PRIVATE ACTS. 1381

said president and directors may, in their discretion, remit
such forfeiture or recover in the name of the company such
instalments or parts of subscriptions by suit or action at law,
and upon such terms as they may deem proper, and in the event
that the capital stock issued or subscribed for shall prove insuf-
ficient to purchase, build, furnish and fully equip with automo-
biles, motors and other vehicles, equipments and plant, the
acquisition of which may be by the said directors considered
desirable for the purposes of this corporation, then the direc-
tors may issue from time to time in the name of said company
mortgage bonds to an amount sufficient, in the judgment of
said president and directors, to complete and fully equip said
transportation company, or to pay for any equipment, power
and plant acquired, and secure the payment of such bonds by
mortgage or mortgages of all or any part of the property,
rights, franchises, tolls and revenues of said company.

SEC. 4. And be it enacted, That the affairs of said company
shall be managed by a board of seven directors, one of whom
shall be elected president, and said incorporators shall have
power at any time after the passage of this Act to organize -by
the election of a president and such directors for the proper
management of the affairs of said company; that the president
and directors then appointed and elected shall serve for one
year after the date of their organization, or until the election
and qualification of their successors; and directors shall there-
after be elected by the majority vote of the stockholders an-
nually, and to serve for the term of one year, and each stock-
holder shall have or be allowed one vote for every share owned
by him or her, and may vote either in person or by proxy; such
by-laws as may be found necessary may be made and adopted
by the board of directors; provided, however, that the same are
not contrary to law, nor to the objects of this corporation, in-
cluding in such by-laws and regulations for the affairs of the
company appointments, pay and duties of the president and
necessary subordinate officers, and the time, place and notice
for the holding of the annual meeting of stockholders for the
election of directors, and also for the declaring of such divi-
dends out of the profits of the said company as the board of
directors may deem proper.

SEC. 5. And be it enacted, That the said company shall have
power to construct or acquire, equip and operate a line of auto-
mobiles, motor cars, express wagons, freight wagons, or any
vehicle commonly used on the public roads and propelled by
steam, gasoline, kerosene, electricity, gas or horsepower, using
rubber, steel or other tires, on daily, weekly or monthly sched-
ule time on all the public roads of Dorchester county leading
from Cambridge to and through Straits and Lakes districts of