THOMAS H. HICKS, ESQUIRE, GOVERNOR

315

elsewhere, to make and use one common seal, and
the same to alter or renew at their pleasure, and
generally to do and perform all things relative to
the objects of this Institution, which now are or
shall be lawful for any individual or body politic
or corporate, to do.

SEC. 2. And be it enacted, That the capital stock
of this Company, shall consist of a sum not ex-
ceeding seventy thousand dollars, divided into
seven thousand shares at ten dollars each, two dol-
lars to be paid at the time of subscribing, two dol-
lars in sixty days after the Company shall have
gone into operation, and notes payable on demand,
with security to be approved of by the President
and Directors for the time being, shall be given
for the remaining six dollars; the said notes shall
be renewed whenever the directors may consider
it proper, and any stockholder neglecting or re-
fusing to renew his note, or neglecting or refusing
to pay an instalment, when required by the direc-
tors, shall forfeit all his interest in this Company,
and be held liable for his proportion of any loss
which may have occurred previous to such ne-
glect or refusal.

Capital taxed.

SEC. 3. And be it enacted, That the President
and Directors, may from time to time, in their
discretion, increase the capital stock to a sum not
exceeding two hundred and fifty thousand dollars,
divided into shares of ten dollars each.

Capital stock
may be aug-
mented.

SEC. 4. And be it enacted, That should any for-
feiture occur, it may be remitted by a majority of
the whole board of directors, present at the meet-
ing at which the motion of said remission shall
be made, upon the payment by the person incur-
ring a forfeiture of the principal of said instal-
ment, and the interest thereon, up to the time of
such payment; as also of his proportion of such
loss, as may have occurred previous to such for-
feiture.

Forfeitures
may be remit-
ted.

SEC. 5. And be it enacted, That the President
and Directors, shall not call on the stockholders
for any part of the remaining six dollars per
share, secured to be paid as before mentioned, un-
less the exigencies of the Company shall require
it, and then only in such proportions as the said
stockholders are severally interested, taking care

Remaining six
dollars not to
be paid unless
the exigencies
require it.