Southern telegraph., 1838-03-27


the same had been issued, signed, accepted,
or endorsed, by such natural person, and
shall be assgnahIe and negotiable in like
manner. 8. The said stockholders who
are qualified 10 vote, as in this section
heretofore prescribed, may at all times veto
l,y proxies, authorized in wiring, ut al!
meetings Of the Stockholders. TO- If any
stakeholder shlll neglect or refuse to pay
the instruments on his stock, as required
from time TO time, by the Board Of Direc-
tors, the stock Of such defauliing stockhpld-
er shall he forfeited TO said Company; and
said stakeholder shall ata!l times continue
liable for the amount Of unpaid aistalment
or instanents, due upon such forfeited
stock. IL. Each stakeholder shall be
separately and personally liable for the
amoanto Of the capital stock subscribed by
him, but 40 further; and all lands, rents,
tenements and Entertainments, steam and
other presses, sea vessels, steam tow-boats,
steam boats. barges, and every other des
criptiah OF boats, slaves, goods, and chattels,
wares and merchandize, produce and other
effects of every kind, all foreign and inland
bills of exchange, promisory notes, money
and effects, belonging to said Company, in
t''-;ir corporate capacity, shall be held liable
10 pay the debts, contracts, and legal or
equitable liabilities of the Company, to an
extent as equal as if the same belonged to
a natural person. II. The President shall
have power to convene special meetings of
the Directors when it shall appear neces-
sarv, and the Board of Directors my con-
vene special meetings Of the stockholders.
IL. Yearly dividends of SO much of the
profits of said Company shall be made, as
shall appear TO the Directors advisable; and
once in every two wears, at least, the Di-
rectors shall lay before the stockholders at
a general meeting, for their information, an
exact statement of the alfairs of said Com
pany. IA. The stockholders shall have
power to appoint a committee of their WISH
ters, to examine all the bonks, accounts.
vouchers, and correspondence, spapers and
affairs, ct said Company, whenever Il ma
Jority at them at any regular meeting, shall
deem it necessary, which committee shall!
he appointed from among the Stockholders
and it shalt be the duty of the Board of BIZ
rectors to exhibit to said committee all the
DO ks, vouchers, correspondence, and pa
pers, belonging to said Company, and to
give them all the information in their power
in relation 10 the aff.,irs of said Company /;
and the said committee shall make report
thereof to said stockholders, at a meeting
for that purpose, to be appointed by said
stockholders. Is. All deeds and convey
anccs, ana other instruments of writing,
signed by the President and co;,ntersigned
by the Secretary, shall be binding and OBJ
| 1lgaIory upon said corporation, acc ordng to
the tenor and meaning thereof, without The
seal OF said corporation.
SEC. 0. Be it further enacted, That this
act shall be deemed pablo act, and notice
shall be taken of it as slch, in all courts of
Justice and elsewhere, and it sh,ll, and
may be given in evidence without being
specially pleaded.
SIC. 10. BE It furtkcr enacted, That the
real and personal estate, and other effects
belonging to said compa ~ which now are,
or may be hereafter subject TO taxation,
shall be subject To the same rate of saxaion
as other property belonging to private indi.
vidl,als; and the tax shall be paid mo, and
constitute part, of the literary fund OF this
State.
SEC. II. Aaa be it further enacted, That
this act shall tai, effect from and after the
passage thereof.