Fremont weekly freeman. [volume] (Fremont, Sandusky County, Ohio) 1850-1853, 1851-08-16

vote, either in person or by proxy. in writing,
and majority ofiyoses present shall deter
mine all questions submitted BY the s:ockhol-
ders 81 ia
4 Sec. 4 The annual meeting of the stock
holders shall be held on the first Monday in |
May, at which meeting the directors of the
company shall be elected, and such other law
full business done as the stockholders shall |
deem necessary and proper. and should they
fail of electing directors at the annual meeting
they may hold special meeting at some sub
sequentt time for the purpose, BY giving thirty
days notice thereofi in some newspaper of gem
eral circulation in Sandusky county. The d.
rectors shall hold their Offices until their sue
cessors are chosen and qualified, but no per-
son shall be director after ceasing to be a
stockholder. Immediately after the election
Of the directors Ethey) shall elect one of their
number president ofthe corporation, and may
appoint such other officers and agents as they
may deem proper to transact their business
and prescribe the amount Of compensation TO
be allowed to them for their services and such
officers, when required by the bylaws, shall
| give bonds tothe satisfaction of the directors
IOF vic VI E0c bTuSlS COu1-
mitted to them. The directors may make
their own bylaws for the government of their
board, but subject to the approval of the stock
holders. AL questions in the board OF direc-
tors shall be decided by a majority of the di-H
reetors present. and majority shall constitute
a quorum for the transaction of busines; va
caneies in the board may be filed by the re-
manning directors. The directcfs shall have
the general management of the affairs of the
company, and may dispose of the residue of
the capital stock at any time remaining un-
subscribed in such manner as the stoekhold-
I.ers for the time being may prescribe, andmay
employ the capital ndmeans of the company
in such manufactures as they shall deem best
for the company, and for the erection and
maintainance of such machinery, dams, build
Iings races, water courses, &c. subject always
to the control of the stockholders, as may be
necessary in The business Of manufacturing.
/ but for no other purpose than those connected
with and pertaining to said business They
shall cause record to be kept Of sl stock sub
scribed and transferred, and of al business
transactions, and their books and records shall
at all reasonable times be open to the inspec-
ton of any and every stockholder They shall
also, when required, present to the stockhold-
: ers reports in writing of the situation and
amount Of business Of the company, and de-
clare and make such dividends Of the profits
from the business Of the company, fnos reduc-
: ing the capital stock while they have out
standing liabilities, as they shall deem expe-
! dent
Sec. 5. The persons mentioned in the first
section Of this act or majority of them, shall
: be commissioners to open books forthe sub
scription to the capital stock of said company
at such times and places as they shall deem
proper, and the said company are authorized
to commence operations upon the subscription
? of FIVE thousand dollars of said stock 81
: Sec. 6. The president and directors of said
company shall have power at any of theil
: meetings to require the payment of, the capi-
: tai stock Of said company TO such persons and
at such times as they may deem proper upon
giving thirty days notice Of the amount Of such
installment as may be required, and The time
when the same shall be paid, in some news
: Ipaper published in Sandusky county. And i
; any stockholder or stockholders shall fail t.
i pay up said installments as shall be required
! by the president and directors as aforesaid
: the directors shall have power either to insti
g tu1e suits against said stockhoIder or stock
e holders In any court havidg jurisdiction, to re-
{; cover such instailment or installments, ane
e shall have execution therefor, or to sell suct
d share or shares as shall be delinquent a
t public auction, to the highest bidder, aftel
e giving thirty days dotice in some newspaper
II published and in general circulation in sait
!, Sandusky county. And such stockholder ol
x stockholders shall be liable for the residue o
e any sum upon such share or shares after de
e ducting the proceeds of such sale. ahpga
IS Sec. 7. The object of said corporation is de
IT clared to be the manufacture of lumber, flour
and such other articles and machinery con
nected Herewith as they deem most conduc
live to the interests of the company, in Wood
EVille, Sandusky county, Ohio.
Sec. 8. That for every bebt due by sait
company to laborers employed by them in car
rying on the manufacturing operations of sail
company, each and every siockholder shall b
liable, or may pay the same without such suit
g and upon payment thereof BY one or more G
said stockholders, he or they paying the sam
5. may recover the amount thus paid by judg
r. ment against said company, or may have con
]. tributions for the amount thus paid by judg
" ment against said company, or may have con
d tributions for the amount thus paid by suit o
" otherwise. .y =
r Sec, 9. The corporation established by thi
M act shall not at any time be engaged in banE
,e ing business or suffered to deal in bills of ez
" change, except when the same are given Q
,n received in the transaction of business cor
j. nected with the objects of their creation. a
a. JOHN F. MORSE,
I'd Speaker House of Representatives.
IN CHARLES C. CONVERS
;r ...... Speaker Of the Senate.