WILLIAM GRASON, ESQUIRE, GOVERNOR.

1839.

and to employ such agents and servants as they may
deem necessary, for the management and conducting of
the concerns of the company, and may require any of
said officers or agents, to give bond to the said com-
pany, with one or more securities, to be approved by
the directors, and under such penalty, and with such
conditions as they may prescribe, and the said compa-

ny may purchase, hold, occupy, possess, lease and

enjoy such land and real estate, and such personal pro-
perty, articles, implements and utensils, as the direc-
tors may deem necessary to carry into full effect the
objects of the company, and the directors shall have
power and authority to make any such purchases.

CHAP. 79.

Take bonds, &c.

Hold property.

Sec. 8. And be it enacted, That the president and
directors may make all such by-laws and regulations
for the government of the said corporation, its officers,
agents and servants, as they or a majority of them,
from time to time shall think fit, not inconsistent with

pleasure reverse, alter and annul the same; provided
always, that any such by-laws and regulations may

Enact By-laws.

Proviso.

Sec. 9. And be it enacted, That the said directors
shall have power to procure such buildings, improve-
ments, machinery, utensils, farm stock and materials,
as they may deem necessary, to carry into full effect,
the object of the company, to enter into all contracts
in behalf, and for the use of said company, and to use
therefor the seal and name of the corporation; they
shall also keep full records of all their proceedings
and accounts, of all purchases, sales and disbursements,
and which records and accounts shall be open to the in-
spection of the stockholders at all meetings of the same,
and to committees appointed for that purpose; and shall
once in every year report generally the condition of
the corporation at an annual meeting, or one called for
that purpose; they shall declare dividends of the pro-
fits, according to the by-laws, and generally use am
exercise all the. powers and privileges conferred on,
or appertaining to this corporation.

Erect buildings.

Make contracts.

Records of proceed-

ings.

Report annually.

Declare dividends.

Sec. 10. And be it enacted, That dividends of so much
of the profits of the said company as shall appear to
the directors advisable, shall be declared annually and

Payment of divi-

dends.