FRANK BROWN, ESQUIRE, GOVERNOR.

William C. Harden, Henry H. Sinclair and Charles W.Robey,
their associates and successors, and all other persons who may

915

be stockholders, as hereinafter provided, shall be and they are
hereby made capable in law of purchasing, holding, leasing,
selling, mortgaging and conveying real estates, real, personal
and mixed, so far as shall be necessary and convenient for the
purpose hereinafter mentioned, and shall have perpetual suc-
cession, and by said corporate name may sue and be sued, and
have and use a common seal, and the power to alter and
renew at pleasure, and also shall and may ordain, establish and
put in execution such by-laws and regulations as shall seem
necessary for the management of said corporation, and alter
and repeal the same at pleasure, and shall have and exercise
all the rights, powers and privileges which corporate bodies
may lawfully possess for the purposes mentioned in this act.

Corporate
powers.

SEC. 2. And be it further enacted, That the capital stock
of said corporation shall be ten thousand dollars, to be divided
into two thousand shares of five dollars each, which said capi-
tal stock shall be personal property and shall be transferable in
such manner as the by-laws of said corporation shall prescribe ;
and the said corporation, whenever it shall seem to the direc-
tors thereof necessary or expedient, shall have power also to
issue and sell on the best terms that can be obtained for the

Capital stock.

same, the bonds of said company, in such sums as may be con-
venient, payable after such a number of years as may be
deemed proper, and bearing in the meantime interest at the
rate of six per centum per annum; provided, the gross amount
of said bonds shall not exceed the sum of ten thousand dollars ;
and for the purpose of receiving the payment of principal
and interest of said bonds, the new company may execute and
deliver a mortgage or mortgages of all its property and fran-
chises, tolls and revenues, after the payment of the expenses of
collecting the same.

May issue
bonds.

SEC. 3. And be it enacted, That the said incorporators
shall be and they are hereby constituted commissioners to
receive subscriptions to the capital stock of said company, and
they or any three of them are hereby authorized to open books
for the purpose of receiving subscriptions to said capital stock
at such time and place, and on such notice as they may deem
proper; and as soon as the sum of $2,500 of said captal shall
have been subscribed, and five per centum on the said sum of
$2,500 shall have been paid in, the said commissioners
shall call a meeting of the stockholders by giving one week's

Subscriptions
to stock.