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EDWARD LLOYD, ESQUIRE, GOVERNOR.
subscribed, of which adjournment public notice shall be given in the
papers aforesaid, and when the said subscriptions in the said books
shall amount to the said respective numbers aforesaid, the same
shall be closed; Provided always, that every person offering to
subscribe in the said books in his own name, or in the name of
any other person, shall, upon subscribing, pay to the attending
commissioners one dollar for every share to be subscribed, out
of which shall be defrayed the expense attending the taking such
subscription, and other incidental charges, and the remainder shall
be deposited in such banks as may be most convenient to the said
commissioners, for the use of the company aforesaid, as soon as the
same shall be organized, and the officers chosen as hereinafter mentioned.
By 1810, ch. 97, the commissioners
to open subscription books at such times
and places as they may think proper. |
NOV. 1809.
CHAP. 128. |
3. AND BE IT ENACTED, That when two thousand
five hundred
shares (a) or more of the said stock in the said company shall have
been subscribed, the said commissioners heretofore named shall, as
soon as conveniently may be, give thirty days notice in the papers
aforesaid of the time and pace by them appointed for the subscribers
to meet, in order to organize the said corporation, and to
choose, by a majority of votes of the said subscribers, by ballot, to
be delivered in person, or by proxy duly authorised, a president,
eight managers, a treasurer, and such other officers as shall be deemed
necessary to conduct the business of the said company, until the
first day of May, eighteen hundred and eleven, and until like officers
shall be thereafter chosen, and make such by-laws, rules, orders
and regulations, as do not contravene the constitution and laws
of this state, and may be necessary for the well governing the affairs
of the said company; Provided always, that no person shall
have more than twenty-five votes in any election, or in determining
any question arising at such meeting, whatever number of shares
he, she or they, may be entitled to notwithstanding, and that each
person be entitled to one vote for every share so held under the said
number of twenty-five shares.
(a) When five hundred shares
are subscribed, the commissioners, by 1810, ch.
97, to call a meeting of the subscribers. |
A president,
eight managers, &c. to
be chosen. |
4. AND BE IT ENACTED, That the stockholders
in the said company
shall be and they are hereby incorporated and constituted a
body politic, by the name of The President, Managers and Company,
of the Columbia Turnpike Road, and by the same name, the
said subscribers, and their successors, shall have succession during
the continuance of this corporation, and shall have all the privileges
and franchises of, or incident to, a corporation, and shall be capable
of taking and holding the said capital stock, and the increase
and profits thereof, and of enlarging the same from time to time by
new subscriptions, on the original terms, in such manner and form
as they shall think proper, if such enlargement shall be found necessary
to fulfil the intent of this act, and of purchasing and taking,
to them and their successors, in fee simple, and for any lesser estate,
all such lands, tenements, hereditaments and estate, real and personal,
as shall be necessary to them in the prosecution of their
works, provided the said real estate shall not exceed twenty acres
in any one lot or parcel, and of suing and being sued, answering |
Stockholders incorporated. |
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