American watchman and Delaware advertiser., 1826-04-11
Volume ".

the same any part thereof in their discretion, sell
or otherwise dispose of; call for monthly other III
saents OF the stock, not exceeding ten dollars on each
share, per month"; least two weeks notice having been
gwen; to apply the said nsalments when received and
all oer funds o the company so far may be necessary
70 erect tile objects aforesaid and payment Of the
cessfy expenses OF the company; and to pass all such
resolutions and byehws may be necessary carry into
effect the powers vested in them by this ter and the
said resolutions aid byelaws, alter repeal annu
nevertheless the revision and control of
the stockholders in the manner hereinafter provided.
Sec g. 4ad be ii enacted That the treasurer before he
proceeds to act shall give bond to the said corporation in
such penalty as the directors shall prescribe, and with such
sureties other than directors, maoy of the drec-
tors shall approve conditioned that he shall faithfully
cute the said office of treasurer and for pay and
deliver such time and times, and to such person and
persons the said directors shall require and direct ali
monies, notes and other securities, papers aid effects be-
longing to the said corporation which shall be entrusted
his care, or be in his possession.
Sec. 10. .2nd be enacted, That the directors or ma
oriy OF them shall have power to be laid out,
and with the consent of the of the land t open
and make passable, any road roads from any landing
place, which they shall deem convenient the
Chesapeake bay any Of the nles the
Eastern Shore Of this state, TO the line of the of Del
aware and IT the owners any owner of such lard
may be designated selected laid out by the said drec-
tors for road landing place, shall be Legally capa-
BILE OF consentng, or if the said directors cannot firm any
cause obtain the consent Of any owner of any
land deemed by them necessary for read landing place
as aforesaid; shall be the duty of the sheriff of the
county in which such land be, the application or
request of the said drector TO within days
after he shall receive such application, twelve good and
law tul men eehoders the said county, Interested
nor related to OF the SAID any member of
the SAID coporaon as jury TO meet on, an, xamlne
the land so deemed necessary for road landing. and
on their oahs to be administered by the said sheriff
fully and mpatlay to enquire and ascertain well who
are the owner or owners of the land ired the DANA
yes which will be sustained by each Of any land
and make inquison thereof under their hands and
seals; which nqistion shall be returncdby the said sheriff
to the clerk Of the county of his county, be by him
recorded and the costs Of takns and recording such in
QUESTION: shall be paid by the said corporation, and pay
ment of the damages 50 ascertained rendering the
amount thereof TO the person entitled to receive
the same, in of their refusal to accept, depositrg
the amount In the Franklin Bank OF Baltimore to the credit
OF the person persons entitled the right such
land for road or landing place. shall be vested in the said
company hereby incorporated.
Sec. IL .qnd be enacted That the directors shall de-
clare dividends of the profits realized by the company of
so much thereof from time to time majority of them
shall deem expedient after reserying such sum as they
shall decide 10 be reasonable meet the expense of
pairs and to provide for the building purchase of any
new boat carriage other articles necessary for the
of the company And at the time of each annual election,
and also at the time Of paying each dividend Of profits
statement of the affairs Of the company shall be exhibited
for the inspection of the stockholders.
Sec IL 4ad be IL enacted That the president and drec-
tors majority of them, shall have full power after CIV
ing at least thirty days notice by advertisement inserted
in at least newspaper in Baltimore, and in Phlade
pha to forfeit and dispose Of for the of the company,
any share shares OF stock, upon which
stamens shall be due, unless the instaments due, with
interest thereon from the time when the same shall have
notice. the of such stock, may be compelled by
action, to pay all such instalmens
Sec 49, 4ndd enacted That the directors shall
regular minutes Of their proceedings board be made
and preserved in book and regular books to be opened
and kept containing record of the number of shares q
stock owned by each sockhode and of all ira ses o
stock ard such sers shall only be made the book
provided and kept, by the sockhode or his legal epre
sentatve person. attorney authorized in such man
ner the bye-laws shall provide. Aud certificates of
stock and of transfers, may be issued in such and
form as the board shall from time to time direct
Sec. A. .9nd be il enacted That the sockAder any
general annual meeting Or at any special meet called
such as the byeaws shall provide, al stci the
holders of majority of the whole number of shares took
shall be present, shall have full power alter repeal
any byea~s made by the president and directors and
to make such new byeaws, rules and regulations
ory of the whole number of of the stockholders
shall assent to- which shall be binding the president and
directors, provided that such byeaws shall not be contra
ry any of the provisions of this charter the laws of
this state. or of the United States
Sec. 15 And be enacted, That all the Joint Stock pro-
perty funds and effects of the said company shall be
sweabe for all the contracts made by or fer the said COM
pany, and for all just claims against the but
Of the stockholders shall liable person property
for any contracts Of claims against the said corporation,
and the service of legal process on any of the directors
shall be sufficient service on the corporation
be construed to authorize said company obtain possession
Of or use any private wharf already established without
Sec H. .4nd be tenaced That nothing contained in this
act shall be construed restrict the right of the Legisla
tre, which hereby reserved to its fullest extent 10 inn
pose from time to time and at all times hereafter and levy
such reasonable by license otherwise upon all vessels
or other property, estate and funds in which the capital
stock of the said company hereby Incorporated shall be m
vested in with similar vessels, property
funds of any other company corporation individuals of
this state.
Sec. 1S. find be it enacted That this shall continue
in ce until the expiration of the year eighteen hundred
and fifty and until the end Of the next of the gene
raj assembly, which shall happen thereafter.
/ April 7. 40-St
CHEAP GOODS.
/ WJTLIa1T 2- S4HTJEL ,1PEAULLEY