T. WATKINS LIGON, ESQUIRE, GOVERNOR.

363

Ohio rail road company and its several supplements,
were for the lawful purposes of said company and the
benefit of its corporators given, granted, authorised and
secured to the said company and to the president and
directors thereof respectively, as fully and perfectly as if
the same were herein repeated; and the said corpora-
tion shall transport on its said rail road or roads which
may be constructed under the provisions of this act, and
also on any rail road or tram road which it may pur-
chase as herein before authorised, all persons and pro-
perty, at the same rales of tolls and prices of transporta-
tion as the Baltimore and Ohio rail road company are
or shall be by law allowed to charge and receive.

SEC. 3. And be it enacted, That the capital stock of
the said company shall be divided into shares of ten.
dollars each, and shall be considered as personal pro-
perty and shall be assignable and transferable in such
manner as may be provided by the by-laws of said cor-
poration, and subscriptions to the said capital stock shall
be made at such places and in such manner as shall be
designated by the said George C. Perry, James D. Arm-
strong and John S. Combs, or a majority of them, and
which subscriptions may be paid either in lands at a
valuation to be determined by those receiving the said
subscriptions or in money, and the stockholders shall
be entitled to one vote in person or by proxy, for each
share of stock held by him; and in case a sufficient
amount is not subscribed to the capital stock of said
company for its lawful purposes at such time as may be
designated by the said George C. Perry, James D. Arm-
strong and John S. Combs, or a majority of them, then
further subscriptions may be from time to time received
to the said capital stock at such other times and places
as the president and directors of said company may ap-
point.

Capital stock.

SEC. 4. And be it enacted, That the affaire of said
company shall be managed by a president and six di-
rectors, who shall be chosen annually by the stockhold-
ers to serve for one year and until others shall be elec-

Management.

ted; and in case of any vacancy occurring in the presi-
dency or directors of said company, the remaining
directors shall have power to fill such vacancy until the
next general meeting of the stockholders shall be held ;
and until the first election of directors shall be held as
herein provided, the said John S. Combs, James D.
Armstrong and George C. Perry, or a majority of them,
shall have full power and authority to exercise all cor-
porate power of said company.

46

Vacancy, how
to be filled.