DANIEL MARTIN, ESQUIRE, GOVERNOR.

1828

or servants, as they_may deem necessary, in the business of
the said company; also to contract for and purchase, such.
leges, and cause all such machinery, buildings and improve-
ments or conveniencies to be made, as they shall deem ne-
cessary for effecting the objects of the company, and the
same, or any part thereof, to sell and convey, or otherwise
dispose of, in their discretion; and also to prescribe the
mode of issuing and transferring stock in the said company,
and the evidence thereof; and generally to do all such acts,
and pass all such ordinances and regulations, for the benefit
and well ordering of the business of the said company, as
they shall think proper, the same not being contrary to the
by-laws passed by the stockholders, nor to any law of this
happening in the presidency or directory of this company,
the remaining directors shall fill the same, by choosing from
the stockholders a president or director, as the case may be;
and for the transacting any business of the said company, a
quorum shall consist of the president and a majority of the
directors thereof.

CHAP. 170

Sec. 5. And be it enacted, That general meetings of the
stockholders shall be called at any time by the president
and directors, and at such times as may be appointed in the
by-laws; and that special meetings may be called at any
time by the president, or a director, or by any number of
stockholders who shall be proprietors of not less than one
fourth part of the whole capital stock of the said company,
first giving ten days public notice in the manner herein be-
fore prescribed, of the objects of every such meeting; and
in any meeting of the stockholders, a quorum for the trans-
acting of any business other than the election of the presi-
dent and directors, shall consist of the owners, and the re-
presentatives of the owners of at least the major part of the
said capital stock; and every such meeting shall have full
power and authority to pass, amend, alter and repeal, by-
laws and resolutions, which shall, whilst in force, be bind-
ing on the president and directors thereof, their officers, a-
gents and servants, the same not being contrary to any law
of this state, or of the United States.

Genreal and

special meetings

Sec. 6. And be it enacted, That nothing in this act con-
tained shall be construed to restrict the right of the legisla-
ture, which is hereby expressly reserved in its fullest ex-
tent, to impose and levy, from time to time, and at all times
hereafter, such tax as the general assembly may deem pro-
per, by license, or otherwise, on the estate, funds and pro-
perty, in which the capital stock of the said company, here-
by incorporated, shall be invested, in common with similar
property, funds or estate, of any other company, corporati-
on or individuals of this state.

Legislature not
restrictedin im-
posing tax