it is hereby amended, by adding thereto certain
additional sections, and providing for an increase of
the number of the directors of the said company, and
of its capital stock, and for the appointment of a
Vice President to said company.
SEC. 2. And be it enacted, That the business and
affairs of said company shall be managed, and all its
powers be exercised by a President and ten directors,
who shall be chosen at the time or times, and in the
manner provided for in the Act incorporating the
said company, and the President and existing direc-
tors of said company, shall have the right to fill any
vacancies in the said board of directors, after the
acceptance of this Act, in the same manner as they
would have been authorized to fill such vacancies
had the same occurred in the number of the directors
originally authorized by the Act of which this Act is
amendatory, and the said President and Directors of
the said " Empire Coal Company of Allegany
county," are hereby authorized to appoint a Vice
President of the said company if they shall deem it
necessary so to do.
SEC. 3. And be it enacted That the President and
Directors of the said " Empire Coal Company of
Allegany county," are hereby authorized to increase
from time to time the capital stock of the said corpora-
ration, by such number of shares, not exceeding
twenty-five thousand additional shares, as in their
judgment the increase of the business of the company,
or its accumulation of capital may require or make
advisable; subscription to which increased stock may
be made at such time or times as the President and
Directors of the said company shall appoint, and in
the manner provided for in the original Act of which
this Act is amendatory.
SEC. 4. And be it enacted, That this Act shall take
effect from the date of its passage; and the General
Assembly reserves the right to alter, amend or
repeal this Act at pleasure.
Approved March 28, 1872.
|
Management
of business.
Fill vacancies
Appoint a
Vice-Presid't
Increase capi-
tal stock.
In force.
|
