THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

for effecting the objects of the company sus authorised by

CHAP. 363

this act, and the same to rent or use by their agents, as

they shall deem most convenient for public accommo-

dation and beneficial to the company; to call for month-

Instalments

ly or other instalments from time to time of the capital

stock subscribed, not exceeding ten dollars per share

per month, nor on less than thirty days notice; to ap-

ply the instalments when received, and all other funds

of the company to effect the objects aforesaid, and in

payment of the necessary expenses of the company; to

provide for the subscription of any portion of the capi-

Subscriptions

tal stock not subscribed before the delivery to them of

the subscription hook or books opened by the commis-

sioners, as hereinbefore directed; to provide Cor declar-

ing and paying dividends of the profits made by the

Dividends

company, to prescribe the manner and evidence of

transferring the capital stock, and for the forfeiture.

Transfers

and sale of any share or shares thereof on default of

payment of any of the instalments called for and due,

and for the remission of such forfeiture on such terms

as they shall deem reasonable, and generally to do,

General powers

make execute or authorise all such acts, deeds and

other writings, either with or without the corporate

seal, and make, revise, alter or annul all such by-laws,

ordinances, rules, resolutions and regulations, not in-

consistent with the laws of this State, or of the United

States, or with any by-law or resolution of the stock-

holders adopted at a general meeting, as the said hoard

of directors may deem necessary and useful, and shall

be competent to the full and beneficial exercise of and

carrying into effect the powers above enumerated, and

all other powers granted by this act and vested in the

corporation hereby created.

SEC. 5. And be it enacted, That the stockholders at

Power of general

any annual or other general meeting, held after ten

meeting

days' public notice, as directed in the third section, at

which the owners or a majority of the whole number of

shares of stock shall be present or represented, shall

have power to alter or repeal any by-laws, rules, reso-

lutions or ordinances made by the directors, and make

such new by-laws, rules and ordinances as a majority

of the votes present shall approve of, which shall be

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