THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

Senior, Jesse Walter, Robert Dashiell, and Samuel B.
D. Jones, or those of them, and all other persons, who
shall become members of the company hereby incor-
porated, upon the conditions hereinafter prescribed,
their successors and assigns, be, and they are hereby

CHAP. 156.

incorporated into a company, by the. name and style of
the Somerset Silk Company, and by that name shall

Style.

have perpetual succession, and shall have a common
seal, and shall sue and be sued at law or in equity,
and shall have use and exercise, all the rights, pri-
vileges and powers, incident to corporations.

Corporate pow-
ers.

SEC. 2. And be it enacted, That the objects and
purposes of this corporation, are, the cultivation of
mulberry trees, the raising of silk worms, and the
manufacture of silk, but the company shall be au-
thorised to cultivate and grow any other agricultural
products, and for the said objects and purposes, the

Objects specifi-
ed.

said company shall be capable in law to purchase,
hold, lease, sell or convey, in as full and ample a man-
ner as any individual, any real estate, not exceeding

Real estate.

five hundred acres of land, at any one time, and there-
on to erect such buildings, and other improvements,
as they may deem convenient, and to contract for and
procure all kinds of materials, goods and chatties,
which they may deem necessary.

500 acres.

SEC. 3. And be it enacted, That the capital stock
of the said company shall not exceed twenty five thou-
sand dollars, and shall be divided into shares of twen-
ty five dollars each, and every person becoming the
proprietor of one or more shares of the said capital
stock, shall in virtue thereof, be a member of the said
company, so long as he continues to be such propri-
etor; and the said shares of capital stock shall be deem-
ed personal estate.

Capital $25,000.

SEC. 4. And, be it enacted, That the said William
W. Johnston, John S. Crockett and Isaac D. Jones
or any two of them, be. and they are hereby appointed

Books for sub-
scription.

commissioners to receive subscriptions and payments,
for shares in the said capital stock, and upon every
such subscription, there shall bo paid to the commis-
sioners, at the time of subscribing, the sum of one dol-
lar on every share subscribed for, and the residue

Payments.