elect at the period appointed shall operate as a
dissolution of this corporation.

May make
By-Laws.

Sec. 5. And be it enacted. That the said Presi-
dent and Directors, or a majority of them, may do
all acts necessary for the conducting of the busi-
ness, and carrying out the objects and intentions
of this Act, may appoint agents or other persons
necessary for the accomplishing said objects, may
make all necessary by-laws and regulations, may
revise, alter or annul the same, may declare divi-
dends, as ascertained by them, may fix and regu-
late the time of times, manner, terms, and condi-
tions of receiving farther subscriptions within the
limits aforesaid to the capital stock, and of all
transfers of stock, may call in all instalments on
stock, agreeably to the terms of subscription, and
enforce payments thereof, may prescribe the con-
ditions of forfeiture in cases of non-payment, and
dispose of all or any such forfeited stock as they
in their discretion shall deem proper and expe-
dient, and generally may do all things necessary
to carry out the objects and intentions of this Act
according to the true intent and meaning thereof.

Power to lo-
cate and con-
stract.

Sec. 6. And be it enacted, That the Directors
of said Company shall be and they are hereby in-
vested with all the rights and powers necessary
to the location, construction and repair of the
railroad not exceeding sixty-six feet wide, with
the necessary addition for embankments and ex-
cavations, and with as many sets of tracks as the
said Directors, or a majority of them may deem
necessary, and they, or a majority of them, may
cause to be made, or contract with others for
making said road or any part of it, and their
agents or those with whom they contract for
making any part of the same, or their agents,
may enter upon and use and excavate any land
which may be wanted for the site of said road, or
the erection of warehouses,, or other works neces-
sary to said road, or for any other purpose neces-
sary or useful in the construction or repairs of said
road or its works, and that they may build bridges
and fix scales and weights, may lay rails, may
take and use any earth, gravel, stone, or material
which may be wanted for the construction or re-
pair of any part of said road, or any of its works,