THOMAS SWANN, ESQUIRE, GOVERNOR.

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Sec. 3. And be it enacted, That the capital stock
of said company shall be two hundred thousand
dollars, divided into twenty thousand shares of the
par value each often dollars, and when three hun-
dred shares have been subscribed and paid in, the
persons named in the first section of this bill shall
act as a corporate body.

Capital stock.

Sec. 4. And be it enacted, That for the purpose
of obtaining subscriptions to the capital stock of
the said company, the persons named in the first
section of this bill shall cause books to be opened
at such times and places as the said persons may
direct, and shall continue to receive subscriptions
to the capital stock, and act as the managers of
said company for the space of one year from the
time the first stock is subscribed, when there
shall be a meeting of the Stockholders of said com-
pany.

Hooks to be
opened.

Sec. 5. And be it enacted, That there shall be at
least three weeks notice of all meetings of the
Stockholders, published in one newspaper in Wash-
ington county, and in all such meetings each share
shall entitle the holder thereof to one vote, to be giv-
en by person or by proxy, and each share shall be
deemed personal estate, and shall be transferable
in such manner as may be provided by the by-laws
of said company.

Notice of
meeting.

Sec, 6. And be it enacted, That the first meeting
of the Stockholders of this company shall be held
in Williamsport, and the place of subsequent meet-
ings shall be determined by a majority of the
Stockholders.

First
meeting.

Sec. T. And be it enacted, That the affairs ff said
company shall he managed by a board of five di-
rectors, who shall be chosen by the stockholders at
the time designated in the fourth section of this
act, a majority of whom shall constitute a quorum
for the transaction of all business of the company,
and act as such until their successors are elected;
and for the purpose of keeping up the successive,
election thereafter shall be held at such time and
on such notice as the stockholders of said company
by their by-laws shall determine; in case of va-
cancy the remaining members shall have power to
fill the same; one of the Directors shall be selected
to be the President of said company, and shall pre-

Affairs — how
managed.