Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1852-08-19
CONCLUDED.

CONCLUDED.
% CREATE AND REGULATE MANUFAcTUR-
ING COMPANIES.
Sec 63. That whenever any number
oepersons, as named in the FIRST section
offhis act, associate themselves together
for the purpose of engaging in the busi-
ness of manufacturing, they shall, un-
der their hands and seals, make a GER
tiicate. specifying the amount OF capital
stock pecessary, the amount OF each
share. the name of the place where such
manufacturing establishment shall be To-
Gated. the name and style by which such
Company shall be known; said certih-
cate shall be acknowledged, certified
and forwarded TO the Secretary Of State.
recorded and copied as is provided in
the second section Of this act, and when
so incorporated, they are hereby author
lied TO carry on the manufacturing ope-
rntions named in said certificate of in
corporation, and by the name and style
provided in said certificate, shall be
deemed body corporate, with success
sion, ard they and their associates, Sc
cessors and assigns, shall have the same
general corporate powers as are provi-
ded in the third section of this act, and
subject to all the restrictions hereafter
provided.
Sec. "a. The annual meeting of the
stockholders shall be held en- the first
Monday of January in each year, at
which meeting the directors ofthe COM
pany shall be elected, and such other
lawful business done, as the stockhold-
ers shall deem necessary and proper;
and. should they fail to elect directors
at the annual meeting, they shall hold
special meeting al some subsequent
time, for the purpose, by giving thirty
days notice thereof. in some newspaper
Of general circulation in sucli county
The directors shall hold their Offices un
tit their successors are chosen and quail
flied; but no person shall be director
after ceasing TO be stockholder. In
medately after the election, the direc-
tors shall elect one of their number pres
ident of the corporation, and may ap-
point such other officers and agents as
they may deem proper, to transact their
business, and prescribe the amount OF
compensation TO be allowed 10 them for
their services; and such officers, when
required by the bylaws, shall give
bonds TO the satisfaction Of the directors.
for the faihful discharge Of the trusts
committed to them; shall have power,
and are hereby authorized to make such
rules, regulations and by laws, as may
be necessary for their regulation, not in
consistent with the constitution Of this
state. The directors shall have the gen.
eraI management of the affairs of the
company, and may dispose Of the resi-.
due of the capital stock at any time re
maining unsubscribed, in such manner
as the stockholders for the time being
may prescribe, and may employ the cap
ital and means of the company, in such
as they shall deem best
for the company, and for the erection
and maintenance o. such machinery,
dams, buildings, races, water courses,
&c, subject always TO the control OF the
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
all stock subscribed and transferred, and
of all business transactions, and their
books and records shall at all reasonable
times be open to the inspection 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 declare and make such dividends
of the profits from the business Of the
company, not reducing the capital stock
while they have outstanding liabilities,
as they shall deem expedient.
Sec. IS. The persons named in the
certificate of incorporation, or majOri-
ty of them. shall be commissioners to
open books for the subscription TO the
capital stock of said company, at such
times and places as they shall deem
proper, and the said company are au
ihorized to commence operations upon
the subscription of ten per cent. OF said
stock.
TO PROVIDE FOR THE INCORPORATION OF
RELIGIOUS AND OTHER SOCIETIES.
Sec. Sc. That from and after the pas
sage of this act, il shall be lawful for
any religious sect or denomination fire
company, or any literary, scientific or
benevolent association, (other than COL
leges, universities, academies or semi
naries,) within this stale, 10 elect, at a
meeting OF a majority of the members of
any organized church, fire company,
literary, scientific or benevolent associ-
alton, as aforesaid, called for that pur-
pose, any number of their members, not
less than three, to serve as trustees or
directors, and one member as clerk, who
shall hold their Office during the pleas
ure OF the society or association.
Sec. 81. That the clerk so appointed,
shall make a true record of the proceed
ings of the meeting, provided for bv the
first sectior of this act, certify and de.
liver the same to the recorder Of the
county in which such meeting shall be
held together with the name by which
such church, fire company, or associa-
ton, shall thereafter desire to be known;
ond 20 sbaIi bo fho dnfv of aaoh county