post and all other fertilizers; the grinding of wheat
corn and other grains; the manufacture of flour
and meal, and the cutting and sawing of timber
and lumber, and the vending of said articles; for
which purpose the said Corporation shall have all
necessary power for erecting buildings, factories,
mills, structures and machinery of every kind which
shall be deemed necessary for the carrying on of
such operations, and for the purchase, holding and
sale of real estate and patent rights, and shall have
all the rights and powers, which an individual has
by law to transport the products and proceeds of
its property, and operations to market, and shall
have all other rights as to its real estate, live stock
and other personal property, which an individual
owner of like property may lawfully exercise; pro-
vided nevertheless, that said Corporation shall not
own more than one thousand acres of land at any
one time.

Capital stock.

Sec. 3. And be it enacted, That the capital
stock of said Company shall be divided into shares
of twenty-five dollars each, and shall at no time ex-
ceed two hundred thousand dollars, and when four
hundred shares of said stock have been subscribed the
persons named in the first Section of this Act, shall
act as a corporate body; and every person who
shall be the proprietor of one or more shares of said
stock, shall be a member of said Corporation, and
as such shall be entitled at all elections and meet-
ings of the stockholders, to one vote in person, or
by proxy for each and every share of said capital
stock held by such person; and the said capital
stock may in whole or in part consist of and be
vested in lands, buildings, tools, live stock and
materials necessary, or useful for carrying on the
business of said Corporation, and the shares of
said capital stock shall be deemed personal estate,
and be transferable in such manner as shall be
provided and directed by the by-laws of said Cor-
poration, and subscriptions to the said capital stock
shall be made at such places and in such manner
as shall be designated by the President and Direc-
tors of said Company.

Affairs—how
managed.

Sec. 4. And be it enacted, That the affairs of said
Company shall be managed by apresident and six
Directors, who shall be chosen annually by the