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Dec. Sess.
1815.
Instalments.
Apportion-
ment.
Defaulters.
Election.
Neglect to
elect.
Vacancies.
Books and
money.
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ton, John P. Duffield, Charles Parker, William Quinton,
Samuel Porter, Thomas R. P. Spence, and James Givan or a
majority of them, and at the village of Berlin, in Worcester
county, for the like number of shares, under the direction of
Thomas N. Williams, Peter Whaley, Thomas S. Fossett, Ro-
bert Mitchell, William F. Silby, Edward Briddle, John P.
Marshall, William Purnell, and William Richards or a majo-
rity of them; and if the whole of said stock shall not be sub-
scribed at each of the said places, according to the above allot-
ment, the books at either or both of the said places may be
kept open for ten days longer, or may be opened at any future
time, by the commissioners herein named, or any three of
them, to be nominated by the said commissioners or a majority
of them, or may be opened by the president and managers to
be appointed under the provisions of this act, until the whole
of said stock is taken and subscribed.
4. AND BE IT ENACTED, That each subscriber shall
at the time of subscribing, pay one dollar on each share of stock
subscribed for, and the remaining nine dollars at such time or
times, and in such proportions as the president and managers
or a majority may determine, giving at least thirty days notice
of any instalment, by advertisement in all the news papers
printed in Easton.
5. AND BE IT ENACTED, That if more than the
amount of shares created by this act shall be subscribed on the
day of opening the books, the commissioners at Snow Hill of
a majority of them shall apportion the same amongst the sub-
scribers, according to the number of shares subscribed by
them.
6. AND BE IT ENACTED, That if any subscriber shall
neglect to pay on his stack according to any call made by the
president, he shall forfeit all dividend and profits until each and
every instalment due by him is paid up.
7. AND BE IT ENACTED, That the commissioners
aforesaid appointed for Snow-Hill, or a majority of them, with-
in thirty days after twenty five hundred shares of the said stock
have been subscribed and paid in, shall hold an election at said
place for a president and four directors, to hold the said offi-
ces for two years from the time of said election, at which elec-
tion each stockholder shall have one vote for each share of stock
held by him, and may vole either in person or by proxy, and at
the end of every two years thereafter the stockholders shall
elect a president and four directors, at an election to be held at
the same place, of which any two justices of the peace of Wor-
cester county may be judges,
8. AND BE IT ENACTED, That if at any time by neg-
lect an election shall not be had according to the provisions of
this act, the president and directors last in office shall continue
to act until an election can be had, of which ten days notice at
least shall be given by the clerk of the company.
9. AND BE IT ENACTED, That in case of the death,
resignation, or incpacity of the said president, or any one of
the directors, the remaining directors shall choose a president
or director, as the case may be, from the stockholders, to
supply the vacancy occasioned thereby.
10. AND BE IT ENACTED, That the commissioners at
Berlin, within three days after the subscription is closed, at said
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