566 JOURNAL OF PROCEEDINGS [Mar. 13,

use a common seal, and at pleasure to alter the same, and to
ordain and establish such by-laws and regulations as shall be
necessary and convenient for conducting the affairs of the
corporation not repugnant to law.

Sec. 2. And be it enacted, That the objects of said corpora-
tion are hereby declared to be the manufacture and prepara-
tion of superphosphate of lime and all other fertilizers, the
purchase of machinery and farming implements of all kinds,
and the vending of said articles, for which purpose the said
corporation shall have all necessary power for erecting build-
ings, factories, structures and machinery of every kind which
shall be deemed necessary for the carrying on of such opera-
tions, and for the purchase, holding and sale of real estate in
said county necessary for the operations of said corporation, and
patent-rights, and shall have all the rights and powers which
an individual has by law, to transport the products and pro-
ceeds of its property and operations to market, and shall have
all other rights as to its real estates, live stock and other per-
sonal property, which an individual owner of like property
may lawfully exercise.

Sec. 3. And be it enacted, That the capital stock of said
company shall be divided into shares of fifty dollars each,
and shall at no time exceed two hundred thousand dollars,
and when four hundred shares of said stock have been sub-
scribed, the persons named in the first section of this Act
shall act as a corporate body, and every person who shall be
the proprietor of one or more shares of said stock, shall be a
member of said corporation, and as such shall be entitled at
all elections and meetings of the stockholders to one vote, in
person or by proxy, for each and every share of said capital
stock held by such person, and the said capital stock may in
whole or in part consist of and be vested in lands, buildings,
tools, live-stock and materials, necessary or useful for carry-
ing on the business of said corporation, and the shares of
said capital stock shall be deemed personal estate, and be
transferable in such manner as shall be provided and direct-
ed by the by-laws of said corporation, and subscriptions to
the capital stock shall be made at such places and in such
manner as shall be designated by the President and Mana-
gers of said Company.

Sec. 4. And be it enacted, That the affairs of said company
shall be conducted by a President and three Managers, who
shall be chosen annually by the stockholders to serve one
year, and until their successors shall be elected, and in case
of any vacancy occurring in the President or Managers of
said Company, the remaining Managers shall have power to
fill such vacancy until the next general meeting of the stock-
holders shall be held, and until the first election of President
and Managers shall be, as herein provided; the said persons