THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

be held on the first Monday in January next ensuing, the
first election herein directed, and on the fust Monday of
January, in every year thereafter, that thirty days notice
by advertisement in at least two newspapers, be given
of the time and place of holding each election, and if
the stockholders should fail to elect on the day herein
fixed for that purpose, an election may be held after giv-
ing thirty days notice, at any time within ninety days
thereafter, and if a vacancy occurs in the oflice of presi-
dent or director, the same may be filled by the president
and directors, or the directors, as the case may be.

CHAP. 208.

Fail to elect.

SEC. 4. And be it enacted, That the powers of the
president and directors may be exercised by the majori-
ty of them, that the said company shall have all the pow-
ers and privileges of acquiring property, real or personal,
and of charging tolls, which were conferred upon the
President and Directors of the Susquehanna Bridge
Company, by the act of eighteen hundred and eight,
chapter one hundred and eleven, except the twelfth sec-
tion thereof.

Powers and

privileges.

SEC. 5. And be it enacted, That the said company may
authorise the payment of tolls in the stock of said com-
pany; provided, when payment of tolls is made in stock,
the rate shall not be less than seventy-five cents percentum
of the maximum rate, authorised to be charged by said
company; and further provided, that shares of stock
shall not be divided for the purpose of paying tolls, and
any stockholder using his stock to pay tolls, shall not re-
ceive any dividends, nor shall any stock, a part of which
has been used in paying tolls ever receive any divi-
dends.

Provisoes.

SEC. 6. And be it enacted, That said company is au-
thorised to make dividends half yearly, and is further
authorised to receive transfers of property, rights or
privileges from any corporations or individuals.

Dividends half
yearly.
Issues forbid.

SEC. 7. And be it enacted, That the company here-
by incorporated, shall have no power to issue notes or
evidences of debt for circulation, and that the Legislature
reserves the right to alter, amend or repeal this act of in-
corporation at pleasure.

Right reser-
ved.