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president may choose a chairman, and shall keep minutes of all
their transactions fairly entered in a book kept for that purpose;
and a quorum being met, they shall have full power and authority
to agree with and appoint such engineers. superintendants, artists,
or other officers, as they shall think necessary to carry on the said
bridge, and contract and agree, for materials, and all such articles
as they shall think necessary; to draw orders on the treasurer for
all monies to pay the wages of persons by them employed, and for
the materials and labour done, provided such orders shall be signed
by the president, or in his absence by a majority of the attending
directors; and to do and transact all other such acts, matters and
things, as by this act, or the bylaws, orders and regulations of
the company, shall be committed to them.
8. And be it enacted, That if any stockholder shall refuse or
neglect to pay his said several instalments, or any of them, on each
and every share held by him or her. as is hereafter directed by
this act, at the times and periods respectively limited and appoint-
ed for the payment thereof, and for one month thereafter, every
such stockholder, or his or her assignee, shall forfeit to the said
company every such share on which any instalment may remain
due and unpaid as aforesaid, and to be sold by the president and
directors for the best price that can be obtained therefor, for the
benefit of the said company; nevertheless, the president and direc-
tors, if they believe it more advantageous to the company to com-
pel payment of the same, the amount thereof, with legal interest
thereon, shall and may be recovered by the said president and di-
rectors of and from such stockholder, or his or her assignee, in
the name of the company, in like manner as debts of equal value
or amount are recoverable.
9. And be it enacted, That it shall and may be lawful for the
commissioners appointed by this act, or any three of them, on the
first Monday in May next, to open a book for subscriptions to said
capital stock as aforesaid, and each and every subscriber to said
stock shall pay to the commissioners appointed by this act, or to
any three of them, or to the treasurer hereafter to be appointed by
this act, two dollars on each and every share of said stock at the
time of subscribing, and two dollars on the first Monday in June
next, on each and every share of said stock so held, two dollars on
each and every share of said stock on the first Monday in July
next, the like sum of two dollars to be paid on each and every
share so held of said stock on the first Monday in August next,
two dollars to be paid on each and every share of said stock on the
first Monday in September next, and the like sum of two dollars
On each and every share to be paid on the first Monday in October
next, the remainder of instalments due on each and every share to
be called for and paid in agreeably to the by laws, orders and regu-
lations, for the well directing and governing the affairs of said
company, provided thirty days notice be given to the stock holders.
10. And be it enacted, That the president and directors of said
company shall keep fair and just accounts of all monies received
by them from the commissioners, and from the subscribers to the
said undertaking, and of the amount of the profits or shares that
may be forfeited, and of all monies received by them for the pur-
pose of erecting the said bridge, and also of monies by them ex-
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CHAP. 154.
Penalty for ne-
glecting payment
of any instalment.
Payments, how
and when to be
made.
Accounts of mo-
nies received and
expended to be
kept.
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