THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

election should have taken place, shall hold their res-

CHAP. 334.

pective offices, and continue to enjoy and exercise the

same until a new election shall have been made, and in

case of the death or resignation of the president or any

of the directors of said company, the vacancy may be

filled by the board of directors, at some subsequent

meeting.

SEC. 5. And be it enacted. That the said company

Power and rights of company

may have, hold and possess, contract for, and purchase

such lands, chattels, materials, carriages and cars,

rights and privileges, and cause all such machinery,

buildings, improvements, or conveniencies to he made,

as they Shall deem necessary for effecting th.e objects

of the company, and the same or any part thereof to

sell and convey, or otherwise dispose of in their discre-

tion; and also to prescribe the mode of issuing and

Transfers

transferring stock in the said company, and the evi-

dence thereof; to do all such acts, and pass all such or-

By laws

dinances and regulations, for the benefit and well or-

dering of the business of the said company as they shall

think proper, the same not being contrary to the by-

laws of the stockholders, nor the laws of this State,

nor of the United States.

SEC. 6. And be it enacted, That the general meet-

General Meetings

ings of the stockholders shall be called at any time by

the president and directors, and at such times as may

be appointed in the by-laws, and that special meetings

Special meetings

may be called by the president or a majority of the

directors, or by any number of the stockholders who

shall be proprietors of not less than one-fourth part of

the whole capital stock of the said company, first giv-

ing ten days public notice of the objects of such meet-

ing, and in any meeting of the stockholders, a quorum

Quorum

for the transacting of any business other than the

election of the president and directors, shall consist of

the owners and representatives of the owners of at

least the major part of the said capital stock; and

Powers

every such meeting shall have full power and authority

to pass, amend, alter and repeal by-laws and resolu-

tions which shall whilst in force be binding on the

president and directors of said company, their officers,