Provisos.

granted to said corporation, provided no pier or
piers, boom or booms shall be so constructed as to
interrupt the navigation of said rivers, water-ways
or courses by steam or sail vessels, and provided
also, that all such logs, boards and other floating
timbers stopped by means of said boom or booms
shall be landed and manufactured within the
bounds and limits of this State.

Capital stock.

Sec. 4. And be it enacted, That the capital stock
of said company, whether the same be real, per-
sonal or both, shall amount to one hundred thou-
sand dollars, which shall be divided into one
thousand shares of one hundred dollars each, and
which said capital stock may be increased at the
discretion of the directors of said company to an
amount not to exceed five hundred thousand dol-
lars, and shall be considered personal property,
and shall be assignable and transferable in such
manner as may be provided by the by-laws of said
company, and shall be in such places and in such
manner as shall be designated by the said E. R.
Brydon, Anthony Kean and Peter Devecmon, or
a majority of them, and which subscription may
be paid either in lands at a valuation to be deter-
mined by those receiving the said subscriptions or
in money, and the stockholders shall be entitled
to one vote for each share of stock, either in per-
son or by proxy, held by them, and if a sufficient
amount for its lawful purposes be not subscribed to
the capital stock of the said company at such time
as designated by B. R. Brydon, Anthony Kean
and Peter Devecmon, or a majority of them, then
further subscriptions may be from time to time re-
ceived to said capital stock at such other times or
places as the president and directors of said com-
pany may appoint.

Officers.

Sec. 6. And be it enacted, That the affairs of
said company shall be managed by a President
and not less than five Directors nor more than ten
Directors, who shall be chosen annually by the
stockholders, to serve for one year and until others
are elected, and in case of any vacancy occurring
in the Presidency or Directors of said company,
the remaining Directors shall have full power to
fill such vacancy until the next general meeting
of the stockholders shall be held, and until the