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every person offering to subscribe in the said book in his own
name, or in the name of any other person, shall upon subscribing,
pay to the attending commissioners one dollar for every share to
be subscribed, out of which shall bo defrayed the expense attend-
ing the taking such subscription, and other incidental charges,
and the remainder shall be deposited in such banks as may be
most convenient to the said commissioners, for the use of the
company aforesaid, as soon as the same shall be organized, and
the officers chosen as herein after mentioned.
3. And be it enacted, That when five hundred shares or more
of the stock in the said company shall have been subscribed, the
said commissioners heretofore named, or a majority of them, shall
as soon as conveniently may be, give thirty days notice in the
papers aforesaid, of the time and place by them appointed for
the subscribers to meet in order to organize the said corporation,
and to choose, by ballot, eight managers, who, when they shall
have been organized by their electing a president, cither from
their own body, or the stockholders at large, shall have full pow-
er and authority to appoint a treasurer, and such other officers as
shall be deemed by them necessary, to conduct the business of the
said company, and the same to remove, reappoint, or their vacan-
cies to fill, at their will and pleasure.
4. And be it enacted, That all persons who shall become sub-
scribers to the 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 Elkton and Sus-
quehanna Bridge Turnpike Company, and by the same name the
said subscribers, and their successors and assigns, shall have suc-
ccssion during the continuance of this corporation, and shall have
all the privileges and franchises of. or incident to, a corporation,
and shall he capable of taking and holding the said capital stock,
and the increase and profits thereof, and of enlarging the same
from time to time by new subscriptions, on the original terms,
in such manner and form as they shall think proper, if such en-
largement shall be found necessary to fulfil the intent of this act,
and of purchasing and taking to them, and their successors, in
fee simple, and for any lesser estate, all such lands, tenements,
hereditaments and estate, real and personal, as shall be necessa-
ry to them in the prosecution of their works, provided the said
real estate shall not exceed twenty acres in any one lot or parcel:
and of suing or being sued, answering and being answered, and
the said company shall have power to make, a seal, and alter and
break and renew the same according to their will and pleasure.
5. And he it enacted, That the sum so subscribed shall be paid
to the president and managers elected agreeably to this act. in the
manner following, to wit: One-fifth part thereof, (including the
one dollar paid to the commissioners at the time of subscribing,)
at the end of one month after the election of the managers, and
the remainder in such sums, and at such times and places, as the
president and board of managers shall appoint, they giving at
least thirty days notice of the payments so required in the news-
papers aforesaid.
6. And be it enacted, That the managers first elected as afore-
said, shall hold their seats until the first Monday which shall hap-
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Dec. Ses. 1816
Organization
of company
Company in-
corporated
Payments.
Election of ma-
nagers.
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