THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

ny hereby incorporated, and as such shall be entitled to
one vote in person or by proxy at all meetings of the
stockholders for each share of stock so held by him or
them on which all instalments due Khali have been paid;
and until one thousand shares of said said stock shall have
been subscribed and fifty thousand dollars in cash shall
have been paid thereon, the said Robert Howard, Wil-
liam G. Harrison, William Winn, William Knox and
John S. Hayes, or a majority of them, shall have and
may exercise all the corporate rights of the said Great
Falls Iron Company, and on receiving the subscriptions
and payments above provided, they or a majority of them
shall call a meeting of the stockholders, who when

CHAP. 34.

Vote in
person or by
proxy.

so met, in person or by proxy, shall choose from among
themselves by ballot a president and five directors, who

shall serve for one year from their said election or until
others are appointed; and at all such elections the per-
sons being stockholders having a majority of all the
votes cast shall be elected: and the said president and
directors so organized, and their successors shall by
their by-laws regulate the time and manner of hold-

Elect officers.

ing elections, provide for filling vacancies caused by
death, resignation or otherwise: out no omission to elect
at the period appointed shall operate as a dissolution of

Fill vacancies.

this corporation.
SEC. 4. And be it enacted, That the said president and
directors or a majority of them may do all acts necessary
for the conducting of the business, and carrying out the
objects and intentions of this act, may appoint agents or
other persons necessary for accomplishing said objects;
may make all necessary by-laws and regulations; may
revise, alter or annul the same; may declare dividends
as ascertained by them; may fix and regulate the time
or times, manner, terms and conditions of receiving fur-
ther subscriptions (within the limit aforesaid) to the
capital stock, and of all transfers of stock; may call in
all instalments on stock agreeably to the terms of sub-
scription, and enforce payments thereof; may prescribe
the conditions of forfeiture in cases of non-payment, and
dispose of all or any such forfeited stock, as they in their
discretion shall deem proper and expedient, and general
ly may do all things necessary to carry out the object:
and intentions of this act, according to the true intent

General pow-

ers.

and meaning thereof.
SEC. 5. And be it enacted, That the said Great Fall
Iron Company, in order to facilitate the objects of their
incorporation be, and they are hereby invested with all

Make lateral
rail road.