PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

as the case may he, that he will well and truly discharge
the duties of his said office to the beat of his skill and
judgment.

CHAP. 257.

SEC. 4. Be it further enacted, That the stockhold-
ers, or a majority of them in interest, may from time to

time, enlarge the capital stock of, the company, by sell-
ing or ordering their president and directors to sell shares
therein, at such times and in such manner, to such
amount, and at such price or prices as they in general
meeting may direct, until the said capital stock reaches
the amount of one hundred thousand dollars; and upon
such additional stock being taken, the owners thereof
shall to all intents and purposes, be members of the
company hereby incorporated, and have equal privi-
leges and powers with the original stockholders, and any
premium or premiums obtained on such stock shall be
the common properly of all the stockholders, in propor-

tion to the capital slock owned by them respectively.

Capital may be
increased.

SEC. 5. Be it further enacted, That the stock of
the said company shall be deemed personal estate, and
pass as such to the representative or representatives of
each stockholder, and may be transferred, and certifi-
cates thereof issued in such manner as the stockholders in
general meeting, or the president and directors shall from

Stock personal
estate.

time to time direct; provided, that nothing herein con-
tained shall be so construed as to prevent the said com-
pany from selling and conveying any part of such real
estate as they may hold.

Proviso.

SEC. 6. Be it further enacted, That a general
meeting of the stockholders of said company shall be
held annually on the first Monday in July, at such place
as shall be prescribed by the bye-laws, the presence of
a majority of the stockholders in interest, in person or
by proxy, shall be necessary to the transaction of busi-
ness at such meeting, but a smaller number may ad-
journ from time to time, in all general meetings of said
company, the stockholders shall be entitled to one vote
for each and every share owned by them respectively,
and may appear and vote on all questions either in per-
son or by proxy.

General meet-
ings — how an
when called.

SEC. 7. And be it enacted, That if any stockholder
subscriber or owner of capital stock in said company
shall fail to pay the amount which may at any time be
due upon his stock, or any instalment thereof, at the
time and place which shall be prescribed for the pay-
ment thereof, and for the space of sixty days after the
same shall be due and payable, agreeable to the provi-
sions of the charter, the president and directors shall

To pay the
instalments as
demanded, or
forfeit stock.