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Dec. Sess.
1815.
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undertaking, 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 effec-
tual for establishing, carrying on, and encouraging manufacto-
ries, agreeably to the provisions of this act.
Thirdly. To appoint and remove, at their pleasure the secre-
tary, superintendants, agents or other officers, necessary for
carrying on the business of the said company; to fix the com-
pensation of secretary, superintendants, agents or other offi-
cers.
Fourthly. To make such contracts for labour, materials,
engines and machines, and all such purchases of lands, tene-
ments or hereditaments, in fee simple or otherwise; to contract
for and obtain, in behalf of the said company, all such privile-
ges, permissions, rights and advantages of every kind and na-
ture whatever, as they shall judge necessary for establishing,
carrying on, and encouraging manufactories; and all the ne-
cessary conveyances and assurances of the said lands and tene-
ments, hereditaments, materials, engines, machines, privile-
ges, permissions, rights and advantages to sell again, let,
hire, or otherwise dispose of, in whole or in part, for the ben-
efit of said company, in such manner, and on such terms and
conditions as they shall judge most proper; and all proper and
needful conveyances, assurances, contracts and deeds therefor,
to make and execute.
Fifthly. To receive, use, dispose of and employ, for the pur-
poses aforesaid, or any of them, all the capital stock, money,
property and funds of the said company, of every nature and
kind whatever, now or at any time hereafter to be held or claimed,
keeping and rendering to the stockholders, at each annual
meeting for the choice of managers, a particular account of all
the stock, property, money and funds so received, expended
and disposed of in the course of the year then next preceding,
and of all contracts, purchases, leases, sales and dispositions,
so to be made within the same period, which shall at all times be
subject to the inspection of the stockholders.
Sixthly. To provide for and pay out of the revenues and
funds of the company, all such annual expences as it may be
necessary to incur for keeping up, carrying on, and encourag-
ing the said manufactories, or for promoting and carrying on in
any manner the business of the company.
Seventhly. To establish rules and regulations for the transfer
of the stock of the said company, and for the proof of the prop-
erty and ownership therein.
Eighthly. To call general meetings of the stockholders from
time to time, and at such times and for such purposes as they
shall think proper, giving six weeks notice of the time place
and purpose of every such meeting respectively, provided that
no such meeting shall be competent to the transaction of any
business whatever, unless there be present thereat the holders
of seven hundred and fifty shares at least or their proxies.
Ninthly. And generally do and transact, all things for the
said company, relative to the undertaking, common stock and
joint property aforesaid, in as full and complete a manner as
the individual stockholders or subscribers might do were they
personally present.
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