E. LOUIS LOWE, ESQUIRE, GOVERNOR.
473
bridges aforementioned, and are hereby authorised
to
select such site for said bridge or bridges as they, or a
majority of them shall, in their judgment, deem most
safe and convenient, and they, or a majority of them,
shall have full power and authority to agree with and
appoint such engineers, superintendents and other officers
as they shall think necessary to construct the said
bridge or bridges, and to contract and agree for materials
and all such articles as they may deem necessary, and
they, or a majority of them are hereby authorised to
draw upon the treasurer of the said company for all
money to pay the wages of persons by them employed,
and for materials and labor done.
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SEC. 7. And be it enacted,
That the president and
directors shall meet at such times and places and shall be
agreed on, for transacting the business of the company,
and in the absence of the president may choose a chairman;
and they shall keep minutes of all their transactions
fairly entered in a book.
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Meetings.
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SEC. 8. And be it enacted,
That the president and
directors shall not be authorised to call upon the stockholders
for a greater sum than five dollars on each share
at any one time, nor until they shall have given at least
two weeks notice thereof; and in case any stockholder
shall neglect to pay such portion of his subscription at
the time so appointed, the president and directors may
proceed to recover the same by due process of law.
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Stockholders
not required
to pay more
than $5 at one
time.
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SEC. 9. And be it enacted,
That for and in consideration
of the great risk and expenses incurred by the
said company, not only for building the said bridge or
bridges, but for keeping the same in repair, the said
bridges, when built and completed, and all their profits
shall be, and the same are hereby vested in the said
company forever, or to be held as tenants in common
in proportion to their respective shares; and it shall and
may be lawful for the president and directors at all
times hereafter, to demand and receive such reasonable
tax or toll as they may, from time to time, agree on and
require, and may contract with any individuals or corporations
for the use in any manner of said bridge or
bridges.
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Bridge vested
in company
forever.
Tolls.
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SEC. 10. And be it enacted,
That the said president
and directors shall keep a just and true account of all
monies received by their several and respective collectors
of tolls for crossing said bridge or bridges, and shall
make and declare a dividend of the profits and income
thereof among all the stockholders, first deducting therefrom
all proper expenses or incidental costs and charges,
and such proportions of the said income as they may
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To keep a
true account
of all monies.
Dividend.
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