Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1859-06-02
5 AN ACT
1No. 2l5 I


Supplementary TO can act to provide for the
creation and regulation Of Incorporated
Companies in the State of Ohio" passed
May /, 1852.
Sec. 1. Be it enacted by the General As
semb y OF the State Of Ohio, That when.
ever any number of persons, ds required by
the first section of the act to which this is
supplementary, associating to form a com
par.y fer the purpose Of imp-ovin anv stream
OF water, or any part thereof, heretofore de-
clared navigable by any of the laws of the
state of Ohio. they shall, under their hands
and seals, make a certificate which they
shall specify as follows: First. The name
assumed by such company, and by which it
shall be known. Second. Commencement
and termni Of said improvement and the
counties through which the same shall pass.
Third. The amount .. capitol stock neces-
sary to make said improvement, not less
than ten Thousand doll ars, and the amount
oi each share. Such certificates shall be
acknow ledged, certified, and forwarded to
the secretary of state, recorded and copied
in the same manner as is provided in the
second section of The act to which this is
supplementary, and said certificate shall also
be recorded in the recorders office of the
county in which such company shall have
its principal Office for doing business, and
when so Incorporated, are hereby authorized
to make said improvement by the cleaning
out of said stream or streams, erection oi
dams, locks, and all other things necessary
for said improvement, as lay be named in
their Certificate of Incorporation. and by
the name and style provided in said certi6-
cate shall be deemed body corporate, with
succession, and they and their associates to
have the said general powers as is provided
in the third section of the act to which this
is supplementary.
Sec. 9. That the corporators named in
said certificate shall open the books of the
said company for subscription TO the capt :,
stock of said company, and SO soon there
after as fifty per cent. OF the capital shall be
subscribed [audl paid in money, they sAal
call meeting o. the persons who have
subscribed stock as Aforesaid, and shall ther
and there proceed to elect five directors, who
sha II be stockholders IN the said company
who shall hold their Office as such directors
for one year from ana after said election
and until their SUCCESSORS are elected arG
qualified, one OF whom shall be president
and one treasurer and one secretary, to bt
named on the tickets when votod for by the
stockholders as aforesaid. Each stock
| holder shall be emitted 10 one
vote for each and every share of stock tha
stockhoider shall be entitled to greatei
number o. votes than the number of share,
he may have paid iEto the said company.
Sec. 3. That the treasurer OF said com
pany, before entering upon the duties Of hi
office. shall enter into bond with good an,
sufficient security, to be approved Of by sal,
board of directors, pay ab lie 10 the said com
pany, conditioned for .he faithful perform
ance OF all and singular the duties of hi
said office, and that he will well and trul,
account for and pay over to the said com
pdny ali money and property that shall iron
!, tine to time come into his hands by virtu,
of his said office, and that he will use du,
and proper diligence to ollect ali money
and demands that Fl ON time TO time shall [,
due and owing to the said company which
shall be his duty BY law to collect.
Sec. 4 The president shall preside a
all meetings when not otherwise incapaci
taled. in which case, or in case of his ab
sence, the board of directors shall choose ,
president from among their number, VIII,
, shall perform the duties of the president
such meeting, and perform such uther dutie
as may from time to time be pointed out bv
the bylaws and rules of the said COMPANY
Sec. S. The secretary shall keep recor,
of all meetings of the board of directors &
other proceedings of said Company not re
quired to be performed by any othe. OF tn.
officers of said board; ard perfo m such tn
er and further duties as may be assigned
him from time to time by the rules and by
laws o: the said company.
Sec. 6. That the said company shs II have
: power from time 10 time, at any regular
meeting of the board of directors, to ma ke
alter or change such bylaws and rules fol
the government of the SAID company.
Sec. z. That the directors of the saiC
company shall have power TO prescribe the
rates of toll said company shall be entitled
to receive for the passage of any boat OIL
other water craft of any lock or locks upon
said improvement, or the running of any
boat or other water craft between the locks
on said improvement.
Sec. s. That the compensation of the
president and other officers OF such company
shall be regulated and fixed by the rules and
bylaws O. such company from time to time.
| WILLIAM B. WOODS,
Speaker Of the House OF Representatives.
MARTIN WELKER,
Pres,den Of the Senate.
April 6, 1859.