|
|
hundred dollars each; and it shall he lawful for
said company hereby created to enlarge the capital
of said company when necessary for the purpose of
increasing the business of said company, so as the
capital of said company shall not exceed five hun-
dred thousand dollars, to be divided into shares of
one hundred dollars each, to be subscribed for or
disposed of from time to time in such manner as
the resolutions or by-laws made in pursuance of
this charter shall provide.
|
|
Affairs — how
managed.
|
Sec. 3. And be it enacted, That the affairs of
said company shall be managed by a president and
board of directors consisting of six persons, the
president and directors to be chosen out of the
stockholders of said company, the president to be
|
|
Election cf
Directors,
|
a member of said board of directors; the said board
of directors shall be elected on the first Monday of
February in each and every year, or within thirty
days thereafter, to continue in office until a new
election; a majority of said directors at all meet-
ings shall have power to act as if all were present;
each stockholder shall vote in person or by proxy,
and shall be entitled to as many votes as the shares
of which he or she shall be the owner.
|
|
Power of
Directors,
|
Sec. 4. And be it enacted, That the board of
directors shall have power and authority to ap-
point and employ all such agents, officers, engi-
neers, laborers and servants whatsoever, as they
may deem necessary for the transaction of the busi-
ness of the company, and may remove any of them
at their pleasure; and to determine and fix their
salaries or wages; that they may contract, agree
to rent, lease, purchase or build, all such lands,
tenements, chattels, boats, vessels, stages, car-
riages, materials, rights, privileges and effects
whatsoever; and to make and repair, or cause to
be made and repaired, all such steamboats, roads,
wharves, buildings, boats, vessels, carriages and
conveniences as they shall deem necessary for effect-
ing the object of the company, and the same or any
part thereof, to sell or otherwise dispose of, win n
in their judgment it will be to the interest of the
company; and that they prescribe the mode of
conducting the elections of said company, the man-
ner and evidence of transfers of stock, the condi-
tion of forfeiture thereof; and are hereby empow-
|
