privileges incident to a corporation for such pur-
poses, and of enlarging or reducing the capital
stock of said Company, and of holding in fee-sim-
ple such real and personal property as may be
necessary in the prosecution of their works, and
the said Company shall have power to make and
use a common seal and to alter and amend the
same at pleasure.

Sec. 5. And be it enacted. That the sum so sub-
scribed shall be paid to the Directors elected as
hereinbefore-named, as follows: one-fourth part
including the one dollar per share hereinbefore
required, at the end of one month after the elec-
tion of said Directors, and further instalments in
such sums and at such times as said Directors
shall require after four weeks notice being given
by publication in a newspaper published in said
County.

Shares—how
paid.

Sec. 6. And be it enacted. That said Directors
shall elect from among their number a President
and Secretary who shall act as Treasurer, and
said Directors shall fix their compensation, and
in case of a vacancy in said officers or Directors,
the remaining Directors shall fill the places so
vacated until a new election of Directors by the
stockholders, said election for Directors shall be
on the eighth day of January of each year, but if
said election should not take place at the time
stated it shall be competent to make and hold an
election at any time thereafter within ninety days.
General meetings of stockholders may be called at
any time by the holders of not less than one-fourth
of the whole stock of said Company, or by the
President, at any time he may consider the inter-
est of said stockholders requires such meetings, a
majority of the Directors shall constitute a quo-
rum to do business, and the by-laws of said Com-
pany may be changed by a two-thirds vote of the
Directors at a meeting where notice has been given
at a previous meeting.

Officers.

Sec. 7. And be it enacted. That the said Com-
pany are hereby authorized to locate said turnpike
road upon the bed of the County road, now open
and used from Texas to Oregon Furnace, and
thence to the described terminus by way of Scott's
Mills and Davisville to Blackrock Church, and

Condemna-
tion of land.