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judgment deem most safe and convenient, and they, or
a majority of them, shall have full power and authority
to agree with and appoint such engineers, superinten-
dents and other officers as they shall think necessary
to construct the said bridge, and to contract and agree
for materials and all such articles as they may deem
necessary, and they, or a majority of them, are hereby
authorised to draw upon the treasurer of the said com-
pany for all money to pay the wages of persons by
them employed, and for the materials and labor done.
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CHAP. 197.
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SEC. 3. And be it enacted, That every person at
the time of subscribing shall pay the attending com-
missioner or commissioners five dollars for every share
by him or her subscribed for, out of which shall be de-
frayed the expenses for taking such subscriptions and
other incidental charges, and the remainder shall be
paid over to the treasurer of the corporation as soon as
the same shall be organised and the officers chosen as
thereinafter mentioned.
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$5 to be paid
on each share
at the time of
subscribing.
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SEC. 4. And be it enacted, That as soon as one
thousand shares shall be subscribed the said commis-
sioners, or a majority of them, shall call a meeting of
the stockholders, who shall proceed in person or by
proxy to the election by ballot of seven directors, who
shall continue in office one year and until a new elec-
tion for directors shall thereafter be made, and said
directors shall have full power and authority to
elect by ballot a president from their body, and shall
hare full power to elect a treasurer for said company,
and the stockholders of said company in one year
after the day on which the election of directors shall be
made, and on the same day in every year thereafter,
except the same shall happen on Sunday, and in that
case the day succeeding, shall elect by ballot from
among the stockholders seven persons as directors, and
the president and directors, for the time being, shall
give public notice for a new election, at least fifteen
days previous to the expiration of the time for which
they are elected, and in every election as aforesaid for
directors each stockholder shall be entitled to one vote
for every share by him or her held, and in case it should
happen that an election of directors should not be made
upon any day when pursuant to this act it ought to have
been made, the said corporation shall not for that cause
be dissolved, but it shall be lawful on any other day to
hold and make an election as aforesaid, in such manner
as shall be regulated by the bye-laws or ordinances of
said corporation, and in case of the death or resigna-
tion or removal of the president or a director, the said
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Directors—
how and when
elected.
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