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cessors, or a majority of them, shall have full power and
authority to appoint, employ and compensate, and at
their pleasure to remove such officers, agents or
servants as they may deem necessary in the business of
said corporation, also to purchase and hold such real
and personal property, materials, vessels, carriages, ma-
chinery, implements, privileges, easements and franchi-
ses, and to purchase or cause to be made all such ma-
chinery, buildings or other improvements as may be
necessary to carry into effect the objects of the said
corporation, and the same or any part thereof to sell,
lease or otherwise dispose of at their discretion, also to
prescribe the mode of issuing and transferring the stock
in said corporation and the evidences thereof, and gen-
erally to do whatever they may judge expedient for the
interest of said corporation, the same being in conformi-
ty with the objects of this act, and not contrary to the
laws of this State, or of the United States, nor to any
bye-laws adopted at any general meeting of the stock-
holders of said corporation, and a quorum for the trans-
action of business shall consist of two, and in case a
vacancy shall occur in the presidency or directorship of
said corporation, the remaining directors shall have
power to fill such vacancy by appointing some stock-
holder to that office till the next meeting of stockholders
for the choice of directors.
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CHAP. 314.
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SEC. 5. And be it enacted, That a meeting of the
stockholders shall be held annually at such time and
place as shall be established by the bye-laws, and it shall
be the duty of the president and directors at said meet-
ing to make a report of the condition and affairs of said
corporation, and a special meeting of said stockholders
may be called at any time by a majority of the directors
or by one or more stockholders who shall represent
one-fifth part of said capital stock, of which meeting
ten days previous notice, stating the object thereof, shall
be given in some newspaper printed in the town of
Cumberland, and at all meetings of the stockholders
the owners or representatives of a major part of the
capital stock shall constitute a quorum for the transac-
tion of business, and shall have power to pass, amend,
alter or repeal the bye-laws, and to remove from office
any director, officer or agent of said corporation and to
appoint others in their stead.
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Annual and
special meet-
ings.
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SEC. 6. And be it enacted, That for the purpose of
enabling said corporation to transport the produce of
its mines to market and elsewhere in the cheapest
and most expeditious rummer, the said corporation
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To construct
rail road, and
keep the same
in repair.
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