The Delaware register, or, Farmers', manufacturers' & mechanics' advocate. [volume] (Wilmington, Del.) 1828-1829, 1829-03-21
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dissolved but in such case directors may be chosen at
an occasional meeting regularly held the first annual
meeting shall be held the first Monday in June next
Fourth In all meetings of the stockholders regular
ly held, those assembled may proceed to business all
elections for directors shall be by ballot, and shall be
decided by plurality of voes all other questions
majority of votes shall be necessary to determination
In all elections and upon every other subject and ques
ton, every stakeholder shall be entitled to vote and
stockholders holding five or more shares shall be
titled to two for five shares, and to addition
al vote for every five additional shares and stockho
ders absent from any meeting may vote by proxy con-
stituted by note in writing
Fifth, no director shall be entitled to any emolu-
ment except such shall be allowed him by the
stockholders at regular meeting:
Sixth the shares of the capital stock shall be per-
sonal property, and shall be assgnabe, subject to the
regulation of the bylaws the directors shall make
dividends of the clear profits of the business of the
corporation, of such part of said clear profits as
may be deemed ADVISABLE, often as the bylaws
shall prescribe and shall lay before the stockholders
every year, at their annual meetings general account
of the stock funds debts and credits OF the corpora
ton and any bylaws by them made shall be open to
the inspection of every stakeholder:
Seventh the stockholders shall have power at any
annual other regular meeting, to make and ordaln
bylaws for the government of the corporation, and
regulations of the concerns Il ereof which bylaws
shall not be repealed or altered by the directors; and
the directors shall not have power to make any by
laws repugnant to or inconsistent with, bylaw made
by the stockholders nor shall the stockholders di
rectors make any bylaws which shall direct the said
Everest Maury in the method of preparing the ground
or raising the mulberry tree manufacturing the
silk, or choice of the place for the establishment
any other matter exclusively given to his management
by this act, but the same shall be entirely in the drec
ton of the said Everest Mau1y long as lie shall
well and faithfully conduct the said business but if
the said Everest Maury shall die, resign otherwise
vacate the said office of manager successor may be
appointed in such manner the stockholders at any
meeting may direct.
Sec. 4. And be it enacted, That the subscribers
shall respectively pay five dollars upon each share
which they shall respectively subscribe to the capital
stock aforesaid, the day of the first annual meeting
to be held aforesaid, to the directors who shall be
then chosen and the residue of said amount in such
manner and in such instruments at such times the
President and Directors shall appoint, and the Presi
dent and Directors shall give public notice of the
ner and time which they shall appoint for paying said
residue of said capital stock, by advertisements to be
inserted in at least two newspapers published in this
state for three successive weeks, and shall further
cause circular letters, giving the notice, to be
signed by the President and addressed to the subscr
beers respectively and directed to their p ces OF abode
if known, to be put into the post office at least thirty
DAYS before the days of payment and if any subscriber
or subscribers shall refuse neglect to pay the sum
of money which he, she or they ought to pay accor
ding to the aforegong provisions, at the time when
the same, according to such provisions shall be pay
III ,o she on 4hav shall forfeit he rate of ton