Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1844-02-29


Herald Of the Times. for three successive
weeks next after The rising Of this General
ASsembly at the present session.
True copy-witncss.
HENRY BOWEN, Sec'ry.
j. AN ACT to incorporate The Ocean House
Company in Newport.
II is enacted by The General .4sSembb as
)6HoDS:
Section !. Nathaniel S. RuggIes, Benja.
min Weaver, Joseph Paddock, Jr., Edward
w. Lawt"n, Francis LnwtDn, Edward f.
Newton William Newton, John &. Weaver
Daniel II. SwInburne, Robert !. Tay Tor. 10.
seph Is. Weaver, Christopher J. EIiven. Sam.
uel u Hopkins, Daniel Congdon, John Ro.
gers, Daniel Cbace, aud Others their nssoei-
aies, successors and assigns, proprIeiors otI
The Ocean House in Newport, BE-, and they
are hereby made body polite aud corporate
with perpetual succession, by the name OF
The Ocean House Company: and by that
name may purchase, hold, and possess reaI
and PERSONA estate, not exceeding the value
I IF fifty thousand dollars and the same may
srll. let, dispose of aud lnanage ut pleasure,
f0r The purposes of erecting, establishing and
maintaining the said house may sue and be
sued answer and be answered uaio plead
ana be inpleaded ~ all proper courts; may
use n common soal, and The snIae .I,ay alter,
break aud renew; may enact rules and regu-
lalions for the government OF said corpora
ton, aud the same amend or repeal aud
generally may do, tct nnd transact oil mat
tcrs aud things appertolnlng aud necessary
To the profitable management Of their SAID
property, not repugnont To law.
! Sec. =. For the better management Of the
property OF the company, there shall be an-
nually chosen president, a secretary trea-
surer aud board Of seven directors, Of
whom the president, secretary and treasurer,
ex olclo shall ba three, who shall rcspcc-
lively hold their offices for one year, aud nm
I'll others shall have been chosen ~ their
places The board Of directors shall have
the sole management and disposal ol the
company property and of said cslab bllshnent,
and of all concern. thereof may III their
discretion require satisfactory bond and sc-
curliy from the treasurer aud others entrus-
ted with The same may Gil such vacancies
IN the Offices aforesaid, as shall happen with.
IN The year; employ and pay such agents
aud servants as they may find nccdln! au'
dit and pay accounts muy make from tine
To time such rnteabe dividend, uf profits
among the Stockholders, as they shall deem
IexpedIcnt aud shall IN all matters consult
aud promote to the extent OF their ability,
the interest and prosperity Of the c"rpor".
r"n: Any four directors may form quorum
| for business.
Sec. Z. The meetings Of said company
shall BE- held N Newport, tie annual meet
ing on the first Monday in September III each
| year /; special meetings may b. called 10y
! the hoard pI utTgrIDrs a The f, d,
of Eve members; and ten days notice nt the
time and place OF every meeting shall be
gwen IN one or more of The Newport news
lpapers aud at every such meel;ng cacl
member present or by proxy, shall have one
vote for each share winch he may own ~
the capital stock and seven or more mem
bcrs holding or representing fifteen shares
shall be quorum Tor business aud any
number less than seven may adjourn from
tine 10 time until a quorum be formed.
! Sec. !. The capital stock shall be divided
into shares oi two hundred and fifty dollars
each, aud shall not be assessed or Increased
beyond that sum aud such shares shall be
transferable only al The ONCE OK ihe trcasur-
or, and IN form to be prescribed by the
president and directors.
Sc. 5. No stockhulGer or member o said
corporation shall be amcnable for any loss,
deficiency or failure OF the capital sio OK o
the corporation, for any sum or sums OF mon
ey whatever, other than the amount Of the
sleek or stocks or shares, which shal! appear
/ by the books ol the said corporation 10 bulong
! To hun, her or them al the lnne or times When
such loss or losses shull be sustained.
Sec. g. The first meeting OF The corpora
ton for the choice OF officers shall be cdlet
by the aforesaid Nathaniel 5. Ruggles, II
Ten days after the granting Of tins charter
by u notice 10 a Newport newspaper; ant
lIe officers chosen at SAID meeting, shal
continue III Office until the first Monday u
September, one thousand eight hundred snC
iorly -four, aud unlI olheis shall have beer
chosen ~ thclr places.
Sec. :. This act shall at all times be sub
lee, TO the ac,s OF the General Assembly
whether ~ sm"ndmeut or repeal thereof %
IN any mode affecting the same Prouided
That no future act shall aller or Increase III,
individual liability of SAID stockholders.
True copy-witness,