and trading in soap-stone and other minerals, for
which purpose they are hereby authorized and
empowered to purchase, hold and sell land and
other property in fee simple or otherwise, and erect
thereon all needful or convenient buildings.

Capital stock.

Sec. 3. And be it enacted, That the capital stock
of said corporation shall be fifty thousand dollars,
with liberty to increase the amount to one hundred
thousand dollars, to be divided into shares of fifty
dollars each, and every person who shall be a
holder of one or more shares, shall be entitled to
vote either in person or by proxy, having one vote
for each share as aforesaid; and it shall be lawful
for said corporation to grant certificates of full
stock in whole or in part payment for the consid-
eration of quarries, lands, buildings, machinery,
mining rights, or privileges, in place of a money
subscription to said stocks, at such valuation as a
majority of all the subscribers shall fix; said sub-
scription to become void if satisfactory titles or
conveyances to the corporation be not made at
such a period as said corporation may direct after
its organization.

Affairs—how
managed.

Sec. 4. And be it enacted, That the affairs of said
corporation shall be managed by a President, who
shall also be a Director; and not less than four other
Directors to be elected by the stockholders, who
shall remain in office one year, or until successors
shall be elected; the President and Directors being
hereby empowered to pass by-laws fixing the pe-
riod of elections, and to make all regulations in
regard to them, and for any omission to elect at
the time appointed no such omission to operate as
a dissolution of said corporation.

Power and
privileges.

Sec. 5. And the it enacted, That the said President
and Directors, or a majority of them may do all
acts necessary for conducting the business and
carrying out the objects of the corporation, may
appoint and employ any agent or other persons, by
them deemed necessary for accomplishing said ob-
jects; may declare annual or semi-annual divi-
dends of profits as ascertained by them, and direct
the time and manner of all transfers of stock, but
no sale or purchase of real estate shall be made
by them, except by the consent of two-thirds of