T. WATKINS L1GON, ESQUIRE, GOVERNOR.

231

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 elec-
tion at least thirty days previous to the expiration of the
time for which they tire 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 shall
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 directed by the by-laws
and ordinances of said corporation, and in case of the
death or resignation or removal of a president or director
the said directors shall elect another person to supply
such vacancy for the remainder of the year.

SEC. 4. And be it enacted, That the said president
and directors shall be authorised to make such by-laws,
rules or orders and regulations, not inconsistent with the
laws of this State, as shall be necessary for the well
ordering and directing the affairs of the sard company,
and also to appoint a secretary, if they shall deem such
an officer to be necessary, and to fix the salaries or com-
pensation of all officers who may be so appointed by
the same.

Authority to
to pass by-
laws, &c.

SEC. 5. And he it enacted, That the said stock-
holders and their successors from the time of the first
meeting before mentioned, shall and they are hereby
declared incorporated by the name of the Great Falls
Bridge company, and by that name may sue and be
sued, plead and be impleaded, answer or be answered
unto any court of law or equity in this Slate.

Declared in-
corporated.

SEC. 6. And be it enacted, That the president and
directors shall meet at such times and place as shall be
agreed on for transacting the business of the company,
and in the absence of the president may choose a chair-

man and they shall keep minutes of all their transac-
tions fairly entered into a book.

Time & place
of meeting.

SEC. 7. And be it enacted, That the president and
directors shall not be authorised to call upon the stock-
holders for a greater sum than ten dollars on each share
at any one time, nor until they shall have given at
least two weeks notice thereof, and in case any stock-
holder shall neglect to pay such portion of his subscrip-
tion at the time so appointed, the president and direc-
tors may proceed to recover the same by due process of
law.

Not authoris-
ed to call for
more than $10
at one time.