THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

tracts, purchases and leases, sales and dispositions so
made within the said period, which account so to be
kept, shall at all times be subject to the inspection and
examination of the stockholders; to provide for and
pay out of the revenues and funds of the company, all
such annual expenses as.it may be necessary to incur,
for keeping, carrying on or promoting in any manner,

CHAP. 33.

the business of the company; to establish rules and re-
gulations for the transfer of the stock of said company,
and for the proof of the property and ownership there-

Rules for trans-
fers.

in; to call meetings of the stockholders from time to time,
and at such times and for such purposes as they shall
think proper, giving three weeks notice of the time,
place and purpose of every such meeting respectively;
provided, that no such meeting shall be competent to the
transaction of any business whatever, unless there be
represented thereat, a majority in value of the existing
stock of said company; and generally to do and tran-
sact all things for said company, relative to the under-
taking, common stock, and joint property aforesaid,
in as full and complete a manner, as the individuals,
stockholders, or subscribers or each or any of them
might do, were the same their individual or separate
property, and they personally present.

Call general
meetings.

SEC. 11. And be it enacted, That the president and
directors, so soon as the progress of the work and the
state of their funds will permit, shall make, declare and
pay to the stockholders, their legal representatives,
half yearly dividends, at certain stated times to be fix-
ed by them, on the stock of the company out of the
increase of the company's property, reserving such
sum annually as they shall judge necessary for repairs,
augmentations and contingencies.

Dividends.

SEC. 12. And be it enacted, That the assignees of any
one or more shares of the capital stock of this com-
pany, shall upon such assignment made, and comple-
ted according to the provisions of this act and the by-
laws of said company, be entitled to all the rights and
privileges, benefits and advantages of original sub-

Stock assigned.

scribers or stockholders in said company: provided, no
assignment or transfer of stock shall be valid, unless
made on the books of said company, and every person

Membership.