WILLIAM GRASON, ESQUIRE, GOVERNOR.

1839.

machinery for the manufacture of sugar from the cane, and
the products of the same, and steam enginery, boilers, and
apparatus and all machinery connected therewith, to refine
and manufacture sugars and the products of the same.
SEC. 3. And be it enacted, That the capital stock of the
said company shall be one hundred thousand dollars, and
they are hereby authorised to receive in subscription real
or personal estate, to be valued by commissioners, all
rights, immunities and privileges to manufacture the above
named articles, or to such as to them may seem useful and
proper and likely to advance the object of said incorpora-
tion.

CHAP. 272.

Capital stock.

SEC. 4. And be it enacted, That the capital stock of the
said company shall be divided into shares of twenty-five
dollars each, and that all real estate and other property sub-
scribed as part and parcels of the stock of said company,
shall be valued by appraisers duly appointed by the presi-
dent and directors, and the person or persons subscribing
the real and personal estate as aforesaid; and which apprai-
sers so chosen, may in all cases choose an 'umpire, if re-
quisite and necessary, and the amount at which the same
is valued shall be credited to said subscribers, and divided
into the share of twenty-five dollars, in like manner all
other shares of said capital stock; and at all meetings of
the stockholders of said company, each member shall have
a vote in person or by proxy for each share of the capital
stock standing in his or her name.

Shares $25.

Real estate to
be valued.

To choose um-

pire.

Votes rated.

SEC. 5. And be it enacted, That G. L. Thompson shall
be commissioner for the receiving of subscription to the
corporate stock of the said company, and that the book of
subscription shall be opened at a convenient place, to be
advertised three weeks before opening of the same, and
that the sum of one dollar shall then and there be paid as
the first instalment; and that as soon thereafter as may be,
the stockholders shall meet and elect their directors, and
shall possess all the power to make such by-laws and re-
gulations of other incorporate bodies of the State, and
who shall be empowered to manage all the affairs of said
company for the period of twelve months from such elec-
tion, and until their successors shall be duly elected, and
shall have the power to fill all vacancies that may occur in
the directory or presidency, to appoint all officers, engi-
neers, mechanists, agents, clerks, labourers and servants,
as they may deem necessary to execute the business of said
corporation, arid to make such rules and regulations for
the conduct of their officers as they may see proper, and

Commissioner

to receive sub-

scriptions.

First instalm't.
to be paid.

Stockholders to
elect directors,
pass by-laws,

&c.

Vacancy to be
filled.

Elect officers.