|
attorney duly authorised, in said books, which shall be kept open
for that purpose at least four hours every day, for the space of
three days, if three days be necessary, and if after the expiration
of three days the said books shall not have for said road, the fait
number subscribed, the said commissioners may adjourn from
time to time until the number of shares shall be subscribed, of
which adjournment public notice shall be given in the papers afore-
said, and when the said subscriptions in said books, shall amount
to the said number, the same shall be closed; provided always, that
every person offering to subscribe in the said books in his own
name, or in the name of any other person shall upon subscribing
pay to the attending commissioners the sum of one dollar for every
share to be subscribed, out of which shall be defrayed the expense
attending the taking of said subscriptions, and other incidental
charges, and the remainder shall be deposited in such banks as
may be most convenient to said commissioners for the use of the
company aforesaid, as soon as the same shall be organized, and the
officers chosen as hereinafter mentioned.
3. And be it enacted, That when one thousand shares or more of
the stock in said company shall be subscribed for, the said commis-
sioners heretofore named, or a majority of them shall as soon as
conveniently may be give thirty (lays notice in the papers afore-
said, of the time and place by them appointed for the subscribers
to meet, in order to organize said corporation, and to choose by
ballot nine managers, who, when they shall have been organized by
their electing a president from their own body, shall have full pow-
er and authority to appoint a treasurer and such other officers as
shall be deemed by thorn necessary; to conduct the business of said
company; and the same to remove, reappoint, or their vacancies
to fill at their will and pleasure; and that all persons who shall be-
come subscribers to said road, their successors and assigns shall
be, and are hereby made a corporation and body politic, by the
name and style of "The President and Managers of the Rockrun
Turnpike Road Company," and by the same name the said sub-
scribers and their successors and assigns shall have succession du-
ring the continuance of this corporation; and shall have all the
privileges and franchises of, or incident to a corporation, and shall
be capable of taking and holding the said capital stock, and the in-
crease and profits thereof, and of enlarging the same from time
to time, by new subscriptions on the original terms, in such man-
ner and form as they shall think proper, if such enlargement shall
be found necessary to fulfill the intent of this act, and of purcha-
sing and taking to them and their successors in fee simple, or
for any lesser estate all such lands, tenements, hereditaments
and estates, real and personal as shall be necessary to them in
the prosecution of their works; provided, the said estate shall
not exceed twenty acres in any one lot or parcel, and of suing and
being sued, answering and being answered, and the said cor-
poration shall have power to make a seal, and alter and break and
renew the same, according to their will and pleasure.
4. And be it enacted, That the sum so subscribed shall be paid to
the president and managers elected agreeably to this act, in the
|
Dec. Ses. 1824
First pay-
ment.
Organize—
Officers, &c.
Incorporation.
Privileges.
Payments.
|
