THOMAS G. PRATT, ENQUIRE, GOVERNOR.

1845.

SEC. 17. And be it enacted, That all the policies,
bonds, notes, obligations and contracts, made or issued
by this company shall be signed by the president, and
countersigned by the secretary; but no sale or transfer
of stock or of property shall be made, nor shall any mort-
gage or bonds he discharged, except in pursuance of a
vote of said board.

CHAP. 192.

Policies, &c.
signed by the

president, &c.

Sec. 18. And be it enacted, That in case any holder
of the policies, or of the dividend bonds of this compa-
ny, should be indebted to said company for sums past,
due and unpaid, the company may at its option withhold
payment of the amount due them respectively, or deduct
such sums from the amount thereof, or reduce or cancel
the same; and lor any debt due or growing due by any
person to said company, it shall have a lien on all the in-
tercst of said debtors in said company and its profits;
but persons insuring in said company, or having merchan-
dise on freight in their vessels, or placing safety notes in
the hands of said company, or in any way entitled to its
dividends, shall be answerable by reason thereof, or
of any thing contained in this act, except for the pay-
ment of their premiums, of freight and passage money,
or of notes given by them as safety notes or premium
notes.

Holder indebt-
ed, company
to withhold
payment.

Lien.

SEC. 19. And be it enacted, That if in the course of
its business and in anticipation of its expected receipts
for freight or otherwise, the said company should, in ful-
filment of any contract entered into relative to the build-
ing or purchase of steamers or otherwise, issue their ob-
ligations in payment of the same, payable in freight or
passage for their steamers, in such manner and amount as
may be agreed upon between the parties, it shall be law-
ful for them to do so; and said obligations from the date
thereof shall operate as liens on the vessels and other
property of this corporation.

Lawful to is-
sue obligations.

SEC. 20. And be it enacted, That it shall be lawful
for said company to enter into and make any contract
with the Government of the United States of America for
carrying the United States mails in their steamers to any
port or ports, on such terms and conditions as may be
agreed upon between them; and also to appropriate sole-
ly and exclusively to their steamers any moneys stipula-
ted to be paid in said contacts, or in other contracts en-
tered into with other and any parties relating to the
building or employment of these packet lines, any thing,
in this act to the contrary notwithstanding.

To contract
with U. States
for carrying U.
S. Mails.