JAMES THOMAS, ESQUIRE, GOVERNOR.

1834

Other funds of the Company, to effect the objects aforesaid,
and in payment of the necessary expenses of the Company,
to provide for declaring and paying to the stockholders, di-
vidends of profits which shall be made by the said Com-
pany, to prescribe and provide for the manner and evidence
of transfers of the capital stock, arid for the forfeiture and
Sale of any share or shares thereof, in default of payment
of any of the instalments called for, and for the remission
of. such forfeiture, on such terms as they shall deem rea-
sonable, and generally to do, execute, or authorise, all such
acts, deeds, and other writings, and make, revise, alter, or
annul, all such by laws, ordinances, resolutions, rules and
regulations, not inconsistent with the laws of this State, or
of the United States, as the said Board of Directors, or a
majority thereof, may deem necessary, useful, or conve-
nient, and which shall be competent to the full and benefi-
cial exercise of, and carrying into effect the powers above
enumerated, and all other powers, rights, and privileges,
granted to and vested in the Liberty Copper Company, in-
corporated as aforesaid, or in the directors thereof, by this
act, and in general, for the better managing and conducting
the business, and promoting the interests of the said Com-
pany, and tor improving the natural and lawful advantages
of the property, rights, and privileges, vested in or owned
by the said Company, in as full and ample a manner as any
corporate body within this State may lawfully do, Provided,
that the operations of the Company, hereby intended to be
incorporated, shall not be commenced until five thousand
shares shall have been subscribed, and twenty dollars shall
have been paid in the current money of the United States,
on each and every of the said shares

CHAP. 52

Sec 6 And be it enacted, That the shares of stock of
said Company, shall be deemed and considered personal
estate, and till the joint stock, property, funds, and effects
of said Company, shall be answerable for all the contracts
made or authorised by or for the said Company, and for all
just claims against the same, but none of the stockholders

Stock-personal es-

tate

shall be liable, in person or property, for any contracts of,
or claims against the said corporation, and the service of,
legal process on the President or any of the Directors, shall
be a sufficient service on the corporation.

Process

Sec. 7 And be it enacted, That if, at any time, the debts
of said Company, by bond, note, or open contract, shall ex-
ceed the one half of the capital stock paid in, the directors,

Case of excess-

liability