THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

stockholders, who shall act as a Secretary to the compa-
ny, and be present at all meetings of the board, and shall,
except in the case of absence, when power is given to

CHAP. 89.

the managers to elect a Secretary pro tempore from their
own number, keep all papers incident to his office, and
shall be liable to removal as in cases of the President and

Secretary pro
tem.

Treasurer; and should it at anytime happen that an
election of managers shall not be made upon the day
when pursuant to this act it ought to have been made,
the said corporation shall not be deemed to be dissolved,
but it shall be lawful on any other day, within sixty days
thereafter, to hold and make an election of managers,
in such manner as shall have been directed by the con-

In case of
no election of
managers.

stitution of said corporation; and in the case of the
death, resignation or disqualification of a manager, the
place of such manager for the remainder of the year shall
be filled by the board of directors for the time being.

In case of
death, &c.

SEC. 6. And be it enacted, That the President and
Directors of said company, or a majority of them, may,
when met and acting as a board, have full power and
authority to appoint and employ servants and laborers,
and pay such compensation to servants as may be deemed
just and proper, and in their discretion to dismiss and re-
move all such laborers and servants as they shall deem
necessary.

Authority to
appoint ser-
vants, &c.

SEC. 7. And be it enacted, That the President and
Managers shall be, and they are hereby allowed to invest
any surplus of funds in Omnibusses and horses; provid-
ed, such sum does not increase the amount originally in-
vested in the company to more than two thousand dol-
lars, or declare, or to provide for declaring and paying
of the stockholders dividends of the profits arising from
the operations of said company, as they in their judg-
ment shall deem best to provide for the manner and evi-
dence of the transfer of the capital stock.

Allowed to in-
vest.

Proviso.

SEC. 8. And be it enacted, That the stock of said
company shall be deemed and considered personal pro-
perty or estate, and all the joint stock property, funds
and effects of said company, shall be liable to, and for
all or any contracts made or authorised by said company
and for all just claims against the same, and the service
of legal process on the President, or any one of the Di-
rectors, shall be a sufficient service on this corporation.

Stock deemed
personal pro-
erty.

SEC. 9. And be it enacted, That the stockholders at a
general or special meeting, called in such manner as the
by-laws shall prescribe, at which the holders of a majo-
rity of the stock shall be present or represented, shall

May alter or

repeal their by
laws.