American watchman and Delaware advertiser., 1826-04-07

scrp,ion books shall be produced the humper oI
subscribed shall exceed thousand, the
shall apporon them among the subscribers, by deducung
from the highest subscriptions until they snai DC %
10 the stipulated number and the commissioner sna ap
nont time and pace for the stockholders to meet to choose
from among themselves seven directors TO manage ,he
business Of the company until the first Thursday OF Decen
Ser eighteen hundred and twentysx, or unu, new ee
tn shall take place; and the commissioners snail cause az
of such appointment and the object 70 DC
published as notice to the stockholders IN such manner
as TO them shall seem proper -
Sec .1nd be enacted, That each SUBSCRIBER ior oe
or more shares of stock before he shall be considered
ockhoder and entitled 20 vote, shall pay 70 the comm
so ers or to such person as they shall appoint me sn
Of five dollars each share Ut s,ock, winch sum shah o
uad over 10 the treasurer when he shall be appointed ana
luly qualified agreeably 10 the charter and pyea~s
Each sockhoder every elections or general meeuhg oi
lers shall be entitled vote IN person OF ol
proxy-one for every share of stock W lch ne sa
"a in the comp,ny, which all tie inst almehts due
snail ave paid and the president and drs ctor may
at any time pres rbe the form of pFoA'es anu he ou
Sec g. And Sc il enacted That the commissioners above
named or majority f hem, shall be JUDGES OF 'he ns,
election of directors and the pres dent an directors sa
point Judges of all subsequent elections ana orec'
uc nuice thereof be given they shal deem proper;
Sec .4nd be ii enacted. That the stockholders shall
meet annually the FIRST Thursday in December, OF ON
~ ii ay within sixty days thereaf er, aud at such place
as the directors shall appoint, for The purpose OF eiecng
from amolg the st ,ckhoders seven directors, VINO sa
choose a presden from among their own number ana
the drrc os so elected shall be entitled to hold their Of
fees and majority othem to fill allvacancles which shall
occur in Their own body the tce ot president ny
death, resignation, or ceaslng q pc stockhooer u.
the annual election.
Sec. 8 And be IL enacted That the directors or ma
iory of them. sa have tu power to appoint and employ,
and in their discretion to remove and smss secreafy
reaslrer and all such other officers clerks. agents. me-
chac aborers and servants as they al deem ut cessay
from time 10 lime, attend to- and transact or execute
all the affairs and business OF the company and nx lher
compe naton to contac agree for and purchase rent
Or hire, AL such lands chaite materials rights, prlvlle
ses and effects whatever to make and repair OF cause 70
made and repaired, all such roads, aharyes boas YES
els carriages and otaer convenences as they sha deem
lnecessay, for eecng the objects Of the company, ah
he same any par, thereof their discretion, to sell
otherwise dispose of to call for monthly or other m
ailments of the stock, not exceeding ten liars on each
shares per month, least two weeks notice having been
given apply the said instalmets when received, and
il other funds Of the company, far may be ecessary
to effect the obecs aforesaid, and in payment OF the ne
cessary expenses of the company and to pass all such
resolutions and byelaws may be necessary to carry to
ect the powe vested in them BY this ater and the
sad resolutions ard bye.aws, alter, repes, annul Or
renewsbiect nevertheless the revision and control OF
the stockholders in the hereinafter provided
Sec find Be IL enacted That the treasurer befre he
proceeds 10 act shall give bond the said corporation in
such penalty the directors shall prescribe and with sch
sureties other than directors, majority OF e drec
tors sha approve conditioned that be shall faithfully exc
cute The said office Of treasurer and account or pay ant
ever at such time and times and 10 such person aud
persons the said directors shall require and hr c all
monies and other securities, papers and effects be
longing the said corporation which shall be entrusted .
his care, be in his possession.
Sec. TO- .4nd Be il enacted Tha, the directors or ma
iory Of them shall have power to 10 be laid oii
and with the consent OF the oa ners of the land T. ope
md make passabe, any road or roads from sns ailig
place, which they all deem convenient to use on the
Chesapeake bay, any Of the rivers or nles th
Eastern Shore Of this ate to the line Of The STA OF Dei
aware aud if the owners any owner OF such la a,
may be designated selected laid out by he sad diree
for road or landing place. shall be lega!s inca
Ole Of censentng, or if the said directors cann tr IN a
cause obtain the consent Of any owner sners af any
land deemed by them necessary for road or landing place
rs aforesaid shall be the duiy of the sheriff If tbs
county which such land may be, on the april cation or
request Of the said dir. or TO summon wihn ten aA
after he shall receive such application, twelve good aud
la ful men, eeoldels the said county, nter sled
related to any OF the sad or 10 any member u
the SAID cmporaton as jury to meet on, an examine
the land deemed necessary FOR road or landing, aud
their oaths to be administered by The said sheriff
fully and mpartially to enquire and ascertain we'll wht
the Of the land req red the dana
ges which wlb sustained by each owner Of any such land
and make an inquiston thereof under their hands arc
seals which nq sion shall be returned by the sa sheriff
the clerk Of the county court of lis county, to be by hin
recorded and the costs Of taking and recording such in
quston shall be paid by the said corpora on and pay
nent OF the damages ascertained, rendering the
amount thereof TO the person entitled to receive
the same, Of their refusal accept depost
the amount IN the Erankln Bank OF Baltimore to the cr-d
OF the person persons entitled, the right to
for road or landing place, shall be vested in the sae
company hereby incorporated
Sec. IL 4a be IL enacted That the directors shall de
clare dividends Of the prof realized by the company
much thereof from time to time majority Of then
shall deem expedient after reseryng such the
shall decide 20 be reasonable, to meet the Of
pairs and TO provide for the building purchase Of an
boat, carriage other articles necessary for the
of the company Aud The time of each annual election
and also the time Of paying each dividend Of profits
statement of the affairs uf company shall be exhibited
n for the inspection of the stockholders.
Sec. IL Ind enacted That the president and direc
ors, or majority of tem, shall have full power after Civ
ing at least thirty days notice. by advertisement
in at least newspaper in Baltimore and Phlade
pha. 10 forfeit and dispose Of for the Of the company
Lhuran char pF
10 sslments shall be due the nsalmens due, will
interest thereon from the time when the shall hav
been payable shall be paid before the day limited in
r. tce, the of such stock, may be compelled,
re action, 10 pay all such instalmens