A. W. BRADFORD, ESQUIRE, GOVERNOR.

sealed with the common seal of said company, to
each person, for every share by him or her sub-
scribed and held; which certificate shall be trans-
ferable at his or her pleasure, in person or by at-
torney legally authorized, in presence of the Presi-
dent or Secretary, subject, however, to all pay-
ments due, or to become due thereon; and the
said assignee holding such certificate, having first
caused the assignment to be entered in a book
of the company to be kept for the transfer of
stock, shall be entitled to all privileges and emol-
uments, and subject to all liabilities and penalties,
as the original subscriber would have been.

189

Sec. 8. And be it enacted, That upon every such
subscription there shall be paid to such person or
persons, as may be appointed to receive such sub-
scription, such instalments as the President and
Directors for said railroad shall require; and
should any subscribers fail or neglect to pay any
instalment for the space of thirty days next after
the time the same shall be due and payable, the
stock on which it is demanded shall be forfeited to
the company.

Instalments.

Sec. 9. And be it enacted, That the President
and Directors of said company shall require and
receive of and from the Treasurer, and every other
person by them employed, bonds in sufficient pen-
alties and with such sureties as they shall by their
by-laws, rules and regulations determine, for the
faithful performance of the several duties to them
committed.

Bonds to be
given.

Sec. 10. And be it enacted, That dividends of
so much of the profits of the said company, as
shall appear advisable to the Directors^ shall be
declared at least twice a year in every year, and
paid to the stockholders on demand at any time
after the expiration of ten days therefrom; but
the dividend shall in no case exceed the net
profits actually acquired by the company

Dividends.

Sec. 11. And be it. enacted, That at each an-
nual meeting of the stockholders, the Directors of
the preceding year shall exhibit to them a com-
plete statement, of the affairs and proceedings of
the company for such year , and special meetings
of the stockholders may he called by order of the
Directors, or by stockholders holding- one-fifth in

Statement of
affairs to be
exhibited.