THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

also have, use, exercise and enjoy all the powers, pri-

CHAP. 365.

vileges and rights, proper and necessary for carrying

on the manufacture of iron, and of articles of which

iron is a component part, and for opening, working,

transporting to market, and vending the produce of

their lands, mines and manufactories; and shall have

Real estate

power to take, purchase and hold, all such property,

real, personal and mixed, as they may require for the

purposes aforesaid, and shall have power to make and

enter into all manner of contracts in relation to the bu-

siness and property aforesaid; Provided, that the com-

pany shall at no time hold or possess, in this State,

more than five thousand acres of land, exclusive of the

quantity which may he occupied as the bed of any road

or roads which it may he found necessary to construct,

and may, for the purposes aforesaid, have and exer-

By-laws

cise, except as restricted by this act, the right to make

by-laws, rules and regulations, and all the rights and

powers usually incident to corporations, and general-

ly all the rights, privileges and powers necessary to the

objects of this act, and to the use, control and disposi-

tion of the property acquired by them and not repug-

nant to the law of this State, or of the United States.

SEC. 2. And be it enacted, That the capital stock of

Capital stock

said company shall consist of five thousand shares, of

one hundred dollars each, of which the lands and mines

Shares

of the said Moses Rawlings, Daniel Cobb, Solomon

Eiting, Thomas Baltzell and Abraham G. Cole, or any

of them, shall constitute a part, at such price as may

be agreed upon between them on the one part, and those

How constitutes

who may associate with them, and constitute the afore-

said corporation, by subscriptions for stock payable in

money; and the president and directors of the said

Enlarge capital

company shall have power, to increase their capital

stock, from time to time, to such an amount, as may be

found convenient and necessary for the objects of this

act; Provided, the amount of capital stock shall not,

Limit

at any time exceed ten thousand shares or one million

of dollars.

SEC. 3. And. be it enacted, That the subscriptions to

Books of subscrip-tion

the capital stock of said company shall be received un-

der the direction of the said persons, or a majority of