THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

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

CHAP. 79.

Bonds.

SEC. 5. Be it enacted That the said company may
purchase, hold, occupy, possess, lease and enjoy such
land and real estate, and such personal property, arti-
cles, implements and utensils, as the directors may
deem necessary to carry into full effect objects of the
company, and the directors shall have power and au-
thority to make any such purchases.

Estate.

SEC. 6. And be it enacted, That the president and
directors may purchase any portion of the stock of
said company, to be held for the use of the company,
and may also make sale of the same, if they think
proper.

Purchase or sell
the stock.

SEC. 7. 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
law or the provisions of this act, and may at their
pleasure reverse, alter and annul the same; provided
always, that any such by-laws and regulations may be
revised, altered and annulled by the stockholders at
any general meeting, and the directors shall have the
general management of the concerns of the company,
and their acts if not inconsistent with this act, the
laws of the State, and the by-laws and regulations of
the company shall be binding on the company, and the

By Laws.

directors shall have full power to sell, mortgage or dis-
pose of any part of the personal estate of the company or
the growth or produce of the land, or articles raised,
made or manufactured by the company; and the directors
with the consent of any number of stockholders, bona
fide holding and owning more than one half the capital
stock at the time, may sell, mortgage, convey or dis-
pose of the lands and real estate, or any part thereof,
and again purchase other lands and real estate for the
purpose of carrying on the operations of the company.

Dispose of pro-
perty.