A. W. BRADFORD, ESQUIRE, GOVERNOR.

to sell and convey or otherwise dispose of, as they
may deem proper; and generally to do all such
acts, and to pass and enforce such by-laws and
regulations as may be aecessary and proper for con-
ducting the business ;of said corporation; the same
not being contrary to law or the provisions of this
act.

105

Sec. 2. And be it enacted, That the capital stock
of said company shall, be divided into shares of fif-
ty dollars each, and shall at no time exceed one
hundred and fifty thousand dollars; and every
person, who shall be the proprietor of one share or
more of said stock shall be a member of said cor-
poration, and as such shall be entitled, at all elec-
tions and in all meetings of the stockholders to
one vote, in person or by attorney, for each and
every share of said capital stock, which is held by
such person; and the said capital stock may in
whole or in part, consist of and be vested in lands,
buildings, machinery, tools and materials necessa-
ry or useful for carrying on the business of said
corporation, and the shares of said capital stock
shall be deemed personal estate and be transfera-
ble in such manner as shall be provided and direc-
ted by the by-laws.

Capital stock.

Sec. 3. And be it enacted, That the affairs of the
company shall be conducted by a President and
Directors, who shall be chosen by the stockholders
from amongst themselves, in such manner and at
such times as the by-laws may provide, and who
shall act in .their respective offices until successors
shall be chosen; and they or a majority of them
shall have full power and authority to appoint,
compensate and remove such officers, agents and
servants as they may , deem necessary in the busi-
ness of said company; also to contract for and pur-
chase such real and personal .estate, and erect all
such buildings and improvements as they may
think necessary to carry into effect the object of
said company; and the same or any part thereof to
sell, convey or otherwise , dispose of, at their dis-
cretion; also to prescribe, the mode of distributing,
registeing and transferring the capital stock of the
corporation, and the certificates thereof, and to de-
clare and pay dividends of the net profits of said
company, and generally to do all such acts for con-
ducting the business of the said corporation ,as they
14

Affairs of
company— how
conducted.