A. W. BRADFORD, ESQUIRE, GOVERNOR,

Samuel Jeffries or a majority of them; they or a ma-
jority of them shall have power to receive further
subscriptions from time to time at such other times
and places as they or a majority of them may de-
signate, giving notice thereof as hereinbefore re-
quired; and if a sufficient number of shares shall
not be subscribed to carry on, as fully as desired,
the lawful business of the company, the President
and Directors thereof may receive further subscrip-
tions thereto, at such times and places and in such
manner as they may determine; and there shall be
paid at the time of subscribing the sum of five dol-
lars a share on every share of stock subscribed or
it shall not be deemed a subscription; and the resi-
due of the par value of each share of said stock
shall be paid by the respective subscribers in such
instalments and at such times as the President and
Directors of said company may by general asssess-
ments or calls determine, and said calls shall be a
lien on said stock subscribed which may be forfeited
and sold for the benefit of said company whenever
the subscribers thereto shall fail to pay said calls
or instalments for thirty days after written notice of
said call or assessment; and the subscribers shall
also be liable in a personal action for said calls or
instalments.

78

Sec. 4. And be it enacted, That the business and
affairs of said company shall be managed and con-
trolled by a President and eight Directors, who
shall be chosen annually by the stockholders from
their own number to serve for one year and until
their successors shall be elected; and as often as
for any cause a vacancy may occur in said Presi-
dency or Directorship, the remaining Directors
shall have the power to fill such vacancy until the
next general meeting of the stockholders; and un-
til the first general meeting of the stockholders,
the said George Charles, D. E. Conklin, John
Hitchins, J. P. Roman and Samuel Jeffries or a
majority of them, shall have and may exercise all
the corporate powers of said company; and a ma-
jority of said President and Directors shall consti-
tute a quorum for the transaction of all business of
the company, and said President and Directors shall
have full power to employ and dismiss servants
and agents of said company and fix upon their
compensation and designate the time and place of
10

Affairs of
company, how
managed.