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LEVIN WINDER, ESQUIRE, GOVERNOR.
and conditions, as they shall adjudge most proper, and all proper
and needful conveyances, assurances, contracts and deeds therefor,
to make and execute. Fifthly. 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 managers, 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. Sixthly. 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. Seventhly.
To establish rules and regulations for the transfer of the stock
of the said company, and for the proof of the property and ownership
therein. Eighthly. To call general meetings of the stockholders,
from time to time, and at such times, and for such purposes,
as they shall think proper, giving six weeks notice in one or
more newspapers published in the town of Easton, of the time,
place and purpose, of every such meeting respectively; Provided,
that no such meeting shall be competent to the transaction of any
business whatever unless there be present thereat the holders of
seven hundred and fifty shares at least, or their proxies. Ninthly.
And generally to do, act and transact, in all things for the said
company, relative to the undertaking, common stock, and joint
property aforesaid, in as full and complete manner as the individual
stockholders or subscribers might do, were they personally
present. |
1814.
CHAP. 61.
Proviso. |
9. AND BE IT ENACTED, That the president and
managers, or
a majority of them, so soon as the progress of the work, and the
state of the funds will permit, shall make, declare and pay to the
stockholders, or their legal representatives, half yearly dividends,
at certain stated times, on the stock of the company, out of the
income of the company's property, reserving such sum annually
as they shall judge necessary for repairs, augmentations and contingencies. |
Dividends to be
made half yearly. |
10. AND BE IT ENACTED, That the original subscribers
to this
association, and the assignees, transferrees, and legal representatives
of all such original subscribers, for ever, shall be taken and
deemed, to all intents and purposes, to be members of the company,
and shall be entitled to all the rights, benefits and advantages, to
arise in any manner therefrom, or from the property, books, and
capital stock thereof, in proportion to the amount of their stock and
interest respectively; Provided, that no transfer or assignments
of
the said capital stock shall be valid unless it be made on the books
of the company, and in such manner as the president and managers,
or a majority of them, shall appoint; and every person or persons,
having so transferred or assigned the whole of his, her, or their interest
and stock, in the said company, shall thereafter cease to be |
Subscribers, &c.
deemed members
of company.
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VOL. III.
22
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