LEVIN WINDER, ESQ. GOVERNOR.

47

place in the town of Snow Hill on some day in June
next, and on someday in the same mouth annually, al-
ter giving ten days notice thereof, by advertisement in
one of the newspapers in Easton, and by advertisements

set up at the most public places in said county.

DEC. SESS.

1814.

when to be e-
lected.

4. AND BE IT ENACTED, That no person shall
be chosen a manager unless he is a stockholder at the time
of his election.

Managers must
be stockhold-

ers.

5. AND BE IT ENACTED, That the president and
managers now acting, and those from time to time elec-
ted, shall and may make and adopt all by laws, rules
and ordinances, for the government and direction of said
company, and the affairs thereof, as the said board may
judge necessary, for the carrying into effect the provisi-

By-laws, &c.

ons of this law; Provided, the same be not repugnant to
the laws of this state, or of the United States.

Proviso.

6. AND BE IT ENACTED, That all contracts
for the purchase or sale of properly, or for the payment
of money, signed by the president and secretary of the
board of managers, shall be obligatory upon the corpora-
tion.

Contracts of
president and

secretary to

the obligatory.

7. AND BE IT ENACTED, That whenever a va-
cancy shall happen in the office of manager, by death, re-
signation, removal from the county or ceasing to be a
stockholder, it shall immediately be filled up, by ballot,
by the directors, from among the stockholders, until the
next election in course.

Directors to
elect manager
in case of death
&c.

8. AND BE IT ENACTED, That the president
and managers shall have power; 1st to purchase and
hold, on behalf of the said company, in fee simple, or
otherwise, lands and real estates, suitable for the erec-
tion of the necessary works, and for the accomplish-
ment of their understaking, as they shall judge proper,
not exceeding five hundred acres
Secondly. To prepare or procure, adopt and execute,
such plan or plans as they shall think most advantageous
and effectual for establishing, carrying on, and encoura-
ging manufactories, agreeably to the provisions of this
act

Thirdly. To appoint and remove at their pleasure, the
secretary, superintendants, agents, or other officers, ne-
cessary for carrying on the business of the said compa-
ny, to fix the compensation of such secretary, superin-
tendants, agents or other officers.
Fourthly. To make such contracts for labor, materi-
als, engines and machines, and all such purchases of
lands, tenements or hereditaments, in fee simple, or
otherwise, to contract for, and obtain, in behalf of the
said company, all such privileges, permissions, rights
and advantages, of every kind and nature whatever,
as they shall judge necessary, for establishing, carrying
on, and encouraging manufactories; and all the necessa-
ry conveyances and assurances of the said lands and te-

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