E. LOUIS LOWE, ESQUIRE, GOVERNOR.

1852.

road company, and shall have succession during the
continuance of this act, and shall be capable of tak-
ing and holding the capital slock, and the increase
and profits, and declaring dividends thereon; to in-
crease the capital from time to time, by new subscrip-
tions on the terms prescribed, and subject to the limita-
tions of this act, and of suing and being sued, answer
and being answered, and the said company shall have
power to make and use a seal, and the same to alter,

break or renew at pleasure.

CHAP. 318.

SEC. 4. And be it enacted, That subscription books
be opened for a capital stock not to exceed thirty-five
thousand dollars, in shares of twenty-five dollars each,
and that subscriptions be taken at such times and places
as the commissioners named in this act may select and
agree upon, until a sufficient amount of stock shall

Subscription
books.

have been subscribed to complete the said road; Pro-
vided, that due notice shall have been given in one or
more newspapers, published in said county, of the time
and place of opening the subscription books.

Proviso.

SEC. 5. And be it enacted, That George Cushwa,
William B. McLain, John F. Dellinger, John Van
Lear, John Baker, S. S. Cunningham, John Snively,
John Ash, Samuel Strite, Daniel Sprecker, Isaac Sharp-
less, Henry Lefever and John A. K. Brewer, or any
five of them, shall constitute a board of commissioners
to receive subscriptions to the capital stock of said com-
pany, who shall whenever in their judgment a sufficient
amount of slock shall have been subscribed, give notice
to the subscribers, that an election will be held for a
president and five managers, treasurer and such other

officers as may be deemed necessary to conduct the
business of said corporation, and upon such notice, the
aforesaid subscribers shall convene in the town of Wil-
liamsport, or some other convenient place upon the line

of said road, and proceed to organize said corporation,
by the election of the officers aforesaid, a majority of
them present in person or by proxy, shall determine the
election, the same to be expressed by ballot, the afore-
said commissioners or any three of them acting as judges

of said election.

Commission-
ers appointed
to receive sub-
scriptions, &c.

SEC. 6. And be it enacted, That the president and
board of managers elected under the provisions of this
act, shall continue in office one year from the date of
their election, and shall have power to fill any vacancy
or vacancies that may occur for the unexpired term, a
majority of those present determining the same in such
manner as they may deem proper, and shall enact such
by-laws, rules and regulations, not inconsistent with

Powers of pre-
sident and ma-
nagers.