PRIVATE ACTS. 1401

SEC. 2. And be it further enacted. That section two (2),
three (3), and four (4) of chapter 714 of said Act be and the
same are hereby repealed and re-enacted so as to read as
follows:

2. That the capital stock of said company shall be one hun-
dred thousand ($100,000.00) dollars, divided into one thou-
sand (1,000) shares of the par value of one hundred ($100.00)
per share (provided that the shares.of stock heretofore issued
by said corporation shall not be in any manner invalidated or
effected by this amendment) with the privilege of increasing
the same from time to time to the sum of two million ($2,000,-
000) dollars, or twenty thousand (20,000) shares of the par
value of one hundred ($100.00) dollars per share, by a vote of
the stockholders at any general or special meeting called for
that purpose; provided, however, that the capital stock of
said company shall not be increased except by a two-thirds
vote of all the stock theretofore issued, and the board of direc-
tors of said company, or a majority of them, shall have power
to open books for subscriptions to said stock at such times and
places and in such manner as shall be determined and regu-
lated by a resolution of the stockholders of said corporation,
authorizing such increase, and should the capital stock of said
company at any time be increased, the stockholders at the
time of such increase shall be entitled to a pro rata share of
such increase, upon paying the price theretofore determined
upon at such stockholders' meetings at which the issue of said
stock shall be authorized to be issued and sold; provided, how-
ever, that the subscriptions to said increase of the capital stock
may be paid in either in cash or its equivalent by an exchange
of stock for lands and other property for the use of the corpora-
tion, or for services rendered at its request; provided (1) that
the property is suitable for any of the purposes for which the
incorporation was incorporated; (2) that such services were
rendered to said corporation at its request; and (3) that the
value of such property and services, and the propriety of is-
suing stock therefor, shall be agreed upon and the issue author-
ized by the affirmative vote of a majority of all the stock out-
standing and entitled to vote, given at a meeting duly warned
as provided for by sections 8A and 8B of this Act, and when any
stock is issued for services or property in accordance with this
section the books of the company shall be so kept as to show
at all times fully what property was received and what ser-
vices rendered for said stock; at what value, and the number
of shares issued for the same, and the books containing such
information shall always be open to the inspection of any stock-
holder of the company, but the valuation placed by the stock-