THOMAS H. HICKS, ESQUIRE, GOVERNOR.

91

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 law-
ful 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
exceeding sixty-seven thousand and five hundred
dollars, divided into thirteen thousand and five
hundred shares, at five dollars each, one dollar in
sixty days, after the Company shall have gone
into operation, and notes payable on demand with
security, to be approved by the President and Di-
rectors for the time being, shall be given for the
remaining three dollars, the said notes shall be
renewed whenever the directors may consider it
proper; and any stockholder neglecting or refus-
ing 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 neglect
or refusal.

Capital stock.

SEC. 3. And be it enacted, That the President
and Directors, may from time to time, in their dis-
cretion, increase the capital stock to a sum not
exceeding three hundred thousand dollars, di-
vided into shares of five dollars each.

Capital stock
may be increas-
ed.

SEC. 4. And be it enacted, That should any

forfeiture occur, it may be remitted by a majority
of the whole board of directors, present at the
meeting at which the motion for such remission
shall be made, upon the payment by the person
incurring a forfeiture of the principal of said in-
stalment, 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
forfeiture.

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 three 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
three dollars
not to be called
for unless the
exigencies of
the company
require It.