E. LOUIS LOWE, ESQUIRE, GOVERNOR.
435
each stockholder shall be entitled to one vote for
every
share held by said stockholder, not exceeding thirty.
|
|
SEC. 4. And be it enacted,
That the subscribers
for stock of said company shall be, and they are hereby
incorporated and constituted a body politic, by the name
of the Woodsboro' and Frederick turnpike road company,
and by the same name the said stockholders,
their successors and assigns, shall have all the privileges
and franchises of, or incident to a corporation, and shall
be capable of taken and holding the said capital stock,
and the increase and profits thereof, and of enlarging
the same by new subscriptions on the original terms, if
necessary, to fulfil the intent of this act, and of purchasing
and holding to them and to their successors, in
fee simple, or for any less estate, such lands and estate,
real or personal, as shall be necessary to them in the
prosecution of their works; Provided, said lands or
real estates shall not exceed two acres, in any one lot or
parcel, for the use of the gate-keeper; and of sueing
and being sued, answering and being answered in any
court of law or equity in this State; and the said company
shall have power to make a seal, and alter and
break the same, and renew it at their will and pleasure,
and to do all other acts necessary for the purposes for
which they are incorporated, as fully as any other corporation
may do.
|
Incorporated.
Proviso.
|
SEC. 5. And be it enacted,
That the sums so subscribed
shall be paid to the managers in such instalments,
and at such times as they may direct, by giving
one month's notice of the payments required, in one
or more of the newspapers of the county.
|
Instalments.
|
SEC. 6. And be it enacted,
That the stockholders
in said company shall, on the first Monday of August,
eighteen hundred and fifty-four, and on the same day
in each year succeeding, elect by ballot aforesaid, for
the ensuing year, five managers as aforesaid, and the
managers of said company, or a majority of them, shall
have the power to appoint one or more judges of all elections,
and to elect a president of said company from
among the managers or stockholders of said company,
and to allow him a compensation for his services, if
they shall deem proper, and if any vacancy shall occur
by death or resignation, or refusal to act, or removal
from the county of a president or manager, a stockholder
may be elected by the managers to fill the vacancy
until the next annual election; and all elections
required to be made on a particular day, if not made
on that day, may be made on any other day, after
thirty days notice of such election day in some newspaper
|
Election of
managers.
|
55
|
 |
