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LEVIN WINDER, ESQUIRE, GOVERNOR.
Reed and William Potter, be and they, or any three of them, be
and they are hereby appointed commissioners, with full power and
authority to open, or cause to be opened, books for receiving and
entering subscriptions for raising a capital stock not exceeding one
hundred and twenty thousand dollars, in shares of one hundred
dollars each, for the purpose of manufacturing cotton, woollen and
linen cloths, and flour, and further to employ the surplus funds of
said company in any useful manufacturing establishment; Provided,
that the first object of the said company shall be the procuring of
a seat or seats for the erection and establishment of the necessary
works of said company. |
DEC. 1813.
CHAP. 154.
Proviso. |
2. AND BE IT ENACTED, That the commissioners
aforesaid, or
any three or more of them, shall open said books in some convenient
place in Caroline county, the times and manner of entering
and securing such subscriptions to be fixed upon by the said commissioners,
or any three or more of them, to be advertised by them
at least six weeks before said subscriptions shall be taken in one
or more papers published in the town of Easton. |
Books to be opened
in some convenient
place in Caroline
county. |
3. AND BE IT ENACTED, That whenever two hundred
and fifty
shares of the said stock shall be subscribed for, all persons who
may then be, or thereafter may become, the actual proprietors of
shares in the said capital stock, either as subscribers for the same,
or as the legal representatives, successors or assigns, of such subscribers,
shall be and they are hereby made and created a body
politic and corporate, by the name and style of The Caroline
Manufacturing Company, and by that name may sue and be sued,
plead and be impleaded, and to do and suffer all acts, matters and
things, which a body politic and corporate may lawfully do and
suffer. |
When 250 shares
are subscribed for,
proprietors
incorporated. |
4. AND BE IT ENACTED, That whenever the said
two hundred
and fifty shares shall be subscribed for, that then the commissioners
aforesaid, or any three or more of them, shall, by giving at
least six weeks notice thereof in one or more newspapers published
in the town of Easton, call a meeting of the said stockholders in
the village of Denton, for the purpose of electing from amongst
the stockholders seven directors, residents of Caroline county;
which election shall be by ballot on the day and at the place appointed
therefor by the said commissioners, from the hour of nine
o'clock in the morning until four o'clock in the evening, and the
persons qualified as aforesaid, having a plurality of all the votes
taken, shall be deemed and considered directors of the said company,
until a new election shall take place as hereinafter provided
for; and the said directors, and those from time to time elected,
shall and may appoint by ballot, one of their board president, and
adopt and use a corporate seal of said company, and make and
adopt all by-laws, rules and ordinances, for the government and
direction of said company, and the affairs thereof, as the said board
may judge necessary, for the carrying into effect the provisions of
this law, provided the same be not repugnant to the laws of this
state or those of the United States. |
Election of directors
and president. |
5. AND BE IT ENACTED, That all elections to
be holden in virtue
of this act, every stockholder shall be entitled to vote by himself,
his agent or proxy, appointed for that purpose by writing,
subscribed by such stockholder, and attested by one or more witnesses; |
Number of votes
allowed. |
VOL. III.
16
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