A. W. BRADFORD, ESQUIRE, GOVERNOR.

company, such choice of a President, five Direc-
tors', Secretary, Treasurer, and all other officers,
shall be by ballot, each stockholder to have one

571

vote for each share of stock; provided, that no per-
son, or body politic, shall have more than thirty
votes; and provided further, that a majority of
the votes of the stockholders present or represented
at any meeting of the stockholders shall be neces-
sary to determine all questions submitted and all
elections held at such meetings.

Provisos.

Sec. 5. And be it enacted, That the President
and Directors of said company shall procure cer-
tificates for all the shares of the stock of the said
company, and shall deliver such certificate, signed
by the President and countersigned by the Trea-
surer, and sealed with the common seal of the
company, to such person or persons, body or bodies
politic, for every share subscribed and held respec-
tively by such person or persons, body or bodies
politic, which certificate shall be transferable at
the pleasure of such person or persons, body or
bodies politic, upon the books of the company, sub-
ject, however, to all payments due or to become
due thereon, and the assignee holding such certifi-
cate shall be entitled to one share of the capital
stock, and of all the estate and emoluments of said
company, and to vote as aforesaid at all the meet-
ings of the stockholders.

Stocks trans-
ferable.

Sec. 6. And be it enacted, That all subscriptions
to the capital stock of the said company shall be
paid to the President and Directors thereof, elected
agreeably to the provisions of this act, in the fol-
lowing manner, to wit: one-third part thereof at
thirty days after the election first held of such
President and Directors, and the remainder in such
sums and at such times as the President and Direc-
tors shall appoint, they giving at least two weeks
previous notice by publication in at least two
newspapers in said county, of the time and amount
of payment so required, and all subscriptions made
to the capital stock of the said company shall be
binding and of full effect, in law or equity, upon
the parties so making the same.

subscriptions
— how paid.

Sec. 7. And be it enacted, That the stockholders
in said company be and they are hereby incorpo-
rated and constituted a body politic, by the name

May increase
capital stock.