for the erection of the necessary works, and for the accomplishment
of their undertaking, as they shall judge proper.  2d.  To
prepare or procure, adopt and execute, such plan or plans, as they
shall think most advantageous and effectual for establishing, carrying
on and encouraging manufactories, agreeably to the provisions
of this act.  3d.  To make all by-laws, rules and regulations, necessary
for the well ordering and conducting of the business of the
company, and such by-laws, rules and regulations, to alter, change
or annul, at their pleasure; but every such by-law, rule or regulation,
may be altered or repealed by the stockholders, at a general
meeting to be called for that purpose, by any forty or more stockholder,
provided that there be present at such general meeting
stockholders holding two hundred and fifty shares in the whole, or
their proxies, and that six weeks notice be given in one or more
newspapers published in the town of Easton, of such meeting, and
of the alteration or repeal intended to be proposed thereto.  4th.  To
appoint and remove at their pleasure, all clerks, superintendants,
agents, or other officers, necessary for carrying on the business of
the said company, to fix the compensations of all such clerks,
superintendants, agents, or other officers.  5th.  To make such
contracts for labour, materials, engines and machines, and all
such purchases of lands, tenements or hereditaments, in fee simple
or otherwise; to contract for and obtain, in behalf of the said company,
all such privileges, permissions, rights and advantages, of
every kind and nature whatever, as they shall judge necessary, for
establishing, carrying on and encouraging manufactories, agreeably
to the first article of this act, and all the necessary conveyances
and assurances of the said lands and tenements, hereditaments,
materials, engines, machines, privileges, permissions, rights and
advantages, to sell again, let, hire, or otherwise dispose of, in
whole or in part, for the benefit of said company, in such manner,
and on such terms and conditions, as they shall judge most proper,
and all proper and needful conveyances, assurances, contracts and
deeds therefor, to make and execute.  6th.  To receive, use, dispose
of and employ, for the purposes aforesaid, or any of them, all
the capital stock, money, property, and funds of the said company,
of every nature and kind whatever, now or at any time hereafter
to be held or claimed, keeping and rendering to the stockholders,
at each annual meeting for the choice of directors, a particular account
of all the stock, property, money and funds, so received, expended
and disposed of, in the course of the year then next preceding;
and of all contracts, purchases, leases, sales and dispositions,
so to be made within the same period, which shall at all times be
subject to the inspection of the stockholders.  7th.  To provide for and
pay, out of the revenues and funds of the company, all such annual
expenses as it may be necessary to incur, for keeping up, carrying
on, and encouraging the said manufactories, or for promoting and
carrying on, in any manner, the business of the company.  8th.  To
bind by their contracts, deeds and writing, under the hand of the
president, and the seal of the company, all the property, estate,
common stock, and joint funds of the said company, but not the
persons or separate property of themselves, or any of the stockholders.
9th.  To establish rules and regulations for the transfer
of the stock of the said company, and for the proof of the property

CHAP. 154.