JOHN WALTER SMITH, ESQ., GOVERNOR.

69

personal and mixed, in any way not inconsistent with law, to
sue and be sued, to plead and be impleaded, to have and use a
common seal, and change, renew and alter the same at its
pleasure, and generally to do every other act or thing neces-
sary or proper to carry into effect the object and purpose of
said corporation.
SEC. 2. And be it further enacted, That the capital stock of

CHAP. 59.

the said corporation shall be five thousand dollars, to be
divided into five hundred shares of the par value of ten dollars
each, to be paid in such manner, on such terms and at such time
as the stockholders, by a resolution, may determine.
SEC. 3. And be it further enacted, That the affairs of said

Capital stock.

corporation shall be managed by five directors, who shall be
elected annually in the month of March by the stockholders,
and that until the first election the persons named in the first
section of this Act shall be the directors of said corporation ;
that the said directors shall annually elect from among their
number a president of said corporation ; they shall also at the
same time elect a secretary and a treasurer and an attorney,
and such other officers as they shall deem proper; a majority
of said directors shall constitute a quorum, and be competent
to transact business; and such directors shall have full power
from time to time to make such by-laws, rules and regulations,
as in their judgment may be necessary and proper for the
welfare of said corporation ; they shall also fix what amount
of bond, if any, shall be given by the several officers of the
corporation for the faithful discharge of their respective duties,
and shall regulate the salaries to be paid to said officers.
Section 4. And be it further enacted, That said corpora-
tion shall have the power, and it is hereby authorized to carry

Managed by
board of
directors.

on the business of obtaining for, and furnishing to such persons
as it may contract with for that purpose, information as to the
financial standing and commercial credit of individuals,
partnerships and corporations, and for that purpose to print
and sell to subscribers and others, from time to time, printed
or written books, bulletins or reports; and to purchase, or in
any other lawful manner, acquire and to use and operate any
patents or copyrights of any form or system which the directors
of said corporation may consider will facilitate the prosecu-
tion of said business, and to sell and dispose of any such
patents or copyrights, or the rights to use and operate the
same; and also to carry on the business of the collection of
bills and debts, and to acquire and hold any property, make
any lawful contract, and to do any lawful act or thing, which
may be necessary or proper for the more advantageous prose-
cution of either branch of said business.

Certain
powers given