DANIEL MARTIN, ESQUIRE, GOVERNOR.
to sue and be sued, to plead and be impleaded, to answer
and be answered, in any court of law or equity, to make
and use a common seal, and the same to alter and renew at
pleasure, to purchase, hold, improve and use, estate, real,
personal and mixed, to the extent, and for the purposes
mentioned in this act; and to do and perform all such other
acts in relation to the objects and purpose of their incorpo-
ration, hereinafter declared, and necessary to the exercise
of the rights and powers granted to the said corporation by
this act, which any other corporate body may lawfully do;
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19
1830.
CHAP. 23
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Provided, that the same shall not be repugnant to any law
of this state, or of the United States.
Sec. 2. And be it enacted, That the Objects and pur-
pose of the said corporation are declared to be, the procur*
ing of slate from any mine or mines which the said com-
pany shall own, and the sale or other disposition provided
for their benefit, and the carrying on of all operations con-
nected therewith; and for those objects and purposes the
said company are hereby authorised and empowered to
purchase, or lease and hold, one or more wharves or
quays, and lands in fee simple, or for any other estate, and
to erect buildings, slate yards, storehouses, offices, and
other improvements, on such lands, as may be deemed con-
venient and necessary to the prosecution of their business,
and to procure by purchase, or other lawful means, all
kinds of necessary implements, boats, wagons, vessels,
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Proviso
Objects of cor-
poration
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goods and chattels, and use the same; Provided, that the
entire real estate of the said company shall at no time ex-
ceed five hundred acres of land.
Sec. 3. And be it enacted, That the capital stock of the
said company shall be twenty thousand dollars, or any less
amount, which may be increased from time to time, and
at such times as the wants of the said company may re-
quire, by a majority of the directors, for the time being,
and in such manner as they shall think fit, to any amount,
not exceeding one hundred thousand dollars; and the said
stock shall be divided into shares of fifty dollars each, and
every person who is or shall become a proprietor of one or
more shares of the said stock, shall, in virtue thereof, be a
member of the said corporation, and shall be entitled, at
all meetings of the stockholders for the election of officers,
or other purposes, to one vote in person, or by proxy, for
every share of the said capital stock which shall be held by
him; and the said capital stock may in whole or in part
consist of, and he vested in, lands, buildings, boats or ves-
sels, for the conveyance of slate, wagons, machinery, tools
or materials, necessary or useful, for promoting or carrying
on the objects and purposes of the said corporation.
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Proviso
Capital
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