THOMAS SWANN, ESQUIRE, GOVERNOR

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eessary materials, goods and chatties, and the
same to use, lease, sell or otherwise dispose of as
fully and freely as any individual may lawfully do.

Sec. 3. And be it enacted, That the capital stock
of the said Corporation shall not exceed five
hundred thousand dollars, and shall be divided
into shares of fifty dollars each, and every person
becoming the proprietor of one or more shares of
the said stock, shall, in virtue thereof, be a mem-
ber of the said corporation, and the said capital
stock may, in whole or in part, consist of or be
vested in lands, buildings, machinery, tools or
materials necessary or useful for carrying on the
business aforesaid,

Capital stock.

Sec. 4. And be it enacted, That the said David
L. Bartlett, German H. Hunt, Horace W. Rob-
bins, Thomas M. Smith and Robert Poole. or any
two of them, be, and they are hereby appointed
Commissioners to receive subscriptions and pay-
ments for shares in the capital stock of the said
corporation, and when, in their opinion, a suffi-
cient amount of the said capital stock shall have
been subscribed to enable the said corporation to
commence operations, they shall convene a general
meeting of the stockholders, who shall, at such
meetings or at such time as they shall then and
there determine, elect by ballot, in person or by
proxy, three Directors, who shall hold their office
tor one year from the day of their election, and
until their successors shall be elected and enter
upon the duties of their office, and the said Di-
rectors shall select from their own number a
President, who shall hold his office for one year
or until the election of a new Board of Directors,
of whom he is not one.

Receive sub-
scriptions.

Sec. 5. And be it enacted, That at such election
and at all meetings of the said Stockholders, each
share of the capital stock of the said corporation
shall entitle the holder of such stock to one Vote.

Vote,

Sec. 6. And be it enacted, That the said Directors
shall manage the business of the said corporation,
and shall have power to prescribe the evidence ot
ownership and transfer of shares of stock in the
said Company, to provide for the appointment,
employment, compensation and dismissal of all

Ownership.