ODEN BOWIE, ESQUIRE, GOVERNOR. 359

ments of the Company, with such other informa- tion as may he deemed proper, after which the
annual election for nine Directors to manage the business of the Company for the ensuing year shall be held, in accordance with the by-laws; but the stockholders, at any general meeting, may, however, by a vote of the majority of the stock of the Company, reduce the nurnher of Directors to five or increase the number to not more than fif- teen, as they may deem proper, and may amend or annul any objectionable by-law, rule or regula- tion which in their judgment operates contrary to the interests of the Company, and they may au- thorize the President and Board of Directors to	Directors.
make, issue and dispose of the mortgage bonds of the Company, in such form and time as they may deem proper, but not to exceed in amount more than one-half of the capital stock of the said Com- pany.	Mortgage bonds.
Sec. 4. And be it enacted, That the capital stock of the said Company shall be one million of dol- lars, which may by a majority vote of the stock of the Company, at any general or special stockhold- ers' meeting, be increased to any sum not exceed- ing five millions of dollars; the s;iid capital stock shall be divided into shares of twenty dollars each,	Capital stock.
which shall be deemed personal property, and shall be issued and transferred in such manner as may be hereafter provided in the by-laws of the Company; each share of stock shall entitle the owner thereof to one vote in all meetings of the stockholders, to be given in person or by proxy; it may be lawful for all persons whatsoever, and cor- porate bodies, to become subscribers for and own- ers of the capital stock of the said Company, and the corporators named in this Act, or their succes- sors, are hereby authorized to receive subscriptions for the said stock, and shall have power to collect	Personal pro- perty.
and enforce the payment of all installments on subscribed stock in the manner, time and place, and in such sums as may have been agreed upon at the time of signing the said subscription, and on the refusal or neglect of any stockholder or sub- scriber to make the said payment, then the shares of such delinquent, after ten days notice, may be sold at public auction, and forfeited to the use of	Installments.