The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1859-06-10

as corporators in said cert ificaie, are hereby
authorized to carry into effect the object named
in said certificate, in accordance with the pro-
visions of this act; and they and their as
sociates, successors and assigns. by the name
and style provided in said certificate, shall
thereafter he deem d body corporate, with
sue ession, with power to sue and be sued,
plead aud te impleaded, defend nd be de
Tended, contract and be contracted with, to
make and use common seal, and the same
to alter or break al pleasure: aud to DO all
needful acts to carry into effect the objects
ior which it is created. ...-
Sec. 4. any company or association, or
ganized for the purposes aforesaid, shall fave
power to build, purchase, aud hold such
number of steamb ats or other vessels, and
> .ch other personal property las may be deem
ed necessary for commencing aud conducting
| the business ,f the associations; and shall have
powprto sell the same or amy part thereof, in
such manner, aud Tor such purpose, as may
be prescribed by the rules and regulations OF
| the company, aud not inconsistent with the
laws Of This State. And said company shall
have power to carry amy articles of freight Or
produce upon any Of the uavigable streams IN
the State Of Ohio. and on any Of the kes and
navyable rivers bordering 'hereoh; and shall
be governed by the same laws, not lnconSst'
TENT with this act which govern ividualS
in such employm ymenls.,
Sec. 5. The annual meeting of the stock
holders OF such company, after the hrst eltc
ton Of directors, shall be hsl at such time as
the directors ma, prescribe, AT which meeting
the directors OF the company shall be elected
and such other lawful business done as the
stockholders may deem lee ssary and proper;
and should they fail to elect directors at the
4 Il
annual meeting, they shall hod special
meeting at some subsequent time Tor Ihal pur-
pose, by wing thirty days notice therefor ID
some newspaper i'll general circulation III the
county where the rlnclpal office OF sucl com,
pauy is situated. The Iii ectors shal, ho'd
th,ir office until their succ, ssors are chosen
and qualified, nd shall have power TO III Via.
lcapces in their boz, but no person sha Il be q
director utter ceasing to be stakeholder lm
mpdiately after the election OF DIR ctors, they
shall elect one of their number president "l
the corporation, und may appoint such othel
officers and agents as they may deem proper It
transact their business, and may prescribe tht
amount of COMPENSATION to be- allowed for theii
.eryices: and such officers and agents when
reoured by the by laws, rules and regulations
sl,a, give bond to the Satisfaction OF the d,
rect ,rs for the ,ihful discharge of the trust
committed to them. SAID directors shall have
nower and are hereby yuthorized 10 make sucl
rules. regulations and by laws as may be nee
essary for their regulation, not iLcohslsten
With the constitution and laws 1T the State
they shall have he general management o
The affairs of the company, and may disposeo
the residue of all capitol stock az any time r.
; m,ininp unsubsc. ibed in such manner as tn
Stockholders for the time being may prescribe
and shall employ the 'pital and means Of N
company as they shall deem best Tor carryIn!
an the business for which 1T was organized
subject always to the control OF the stockhol
dnrs. thew shall cause record to be kept O
all stock subscribed or transferred, and OF al
bnsine transac. c.ions, and their books and rec
ards shall Mt all rea enable times be open u
the Inspection of any and every stakeholder
thew shall also, when required, present to th
Stockholders reports in writing Of the stua
linn and amount OF business of the company
and declare and make such dividen OF tn
profits of the com pany mot reduclngth he C pita
stock while thee have outstanding Liabilities
as they shall deem expedent.
Sec 6. The persons named in said certifi
cate of incorporation, or a majority VI them
shall be- Commissioners to open books for sut
script,on to the capital stock OF said company
at sucn Times anu places as they shall deel
proper. and sa company are authorized
commence operations upon the suhsc 'iption
eighty Der cent OF said stock. An instaIlmeI
of thirty per cett. on each share OF stock sha
be made in cash at The tire OF making III
subscription, md the residue thereof sha
be paid in such installments, at such times an
places and to such persons as may be require
by the directors Of such company. II an
person or persons subscribing to the capiti
Stock of such company shall fail to make "al
S ment OF such subscription, or any part thereo
i. at the time or times prescribed by the director
the sail company shall have power to procee
lby sui; to coliect the same in an court OF con
: petent jul isdiction.
Sec. 7. Each stakeholder shall be innivi 4
ally liable for all the debts Of TIL. company
= AN amount equal to the amount Of his subscril
lion thereon in addition thereto.
II Sec. 8. This act shall be in force from al
after its passage.
WILLIAM B. WOODS.
Speaker Of the House Of Representative
MARTIN WELKaR,
President Of the Senate.
Alto fosO