The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1859-05-04

the persons named as corporators in
said certificate, are hereby authorized
to carry into effect the objects named
in said certificate, in accordance with
the provisions of this act, and they and
their associates, successors and assigns
by the name and style provided in said
certificate, shall thereafter be deemed
body corporate, with succession, with
power to sue and be sued, plead and be
impleaded, defend and be defended,
contract or be contracted with, acquire
and convey, at pleasure, all such real
and personal estate as may be neces
sary and convenient to carry into effect
the objects of the incorporation; to
make and use a common seal, and the
same to alter at pleasure, and do all
needful acts to carry into effect the OBJ
jects for which it was created; and such
company shall possess all the powers,
and shall be subject to all the rules and
restrictions of this act.
Sec. 4. Any company or associa-
ton, organized for the purposes afore-
said, shall have power to take by pur-
chase or otherwise, and hold such real
and personal property and estate, as
may be deemed necessary for success
fully commencing and conducting the
business of the association, and shall
have power to lease, sell or convey, Or
mortgage the same, or part thereof,
in such manner and for such purposes
as may be prescribed by the rules and
regulations of the company, and not
inconsistent with the laws of this State.
And said company shall also have pow
er to deal in the transportation and
sale of the mineral waters yielded by
tLeir springs, and to manufacture glass
and other vessels for holding the same;
to engage in quarrying stone, marble
or slate; mining coal, ores and other
minerals situated on their lands, and
manufacturing the same, in whole or
in part, or both, and to erect and pro-
vide buildings for the accommodation
of visitors and others frequenting said
spring or springs, and to demand and
receive compensation from said person
or persons.
Sec. 5. The annual meeting of the
stockholders Of such companies shall
be held on the first Tuesday of May in
each year, at which meeting the direc-
tors of the company shall be elected,
and such other lawful business done as
the stockholders shall deem necessary
and proper; and should they fail to elect
directors at their annual meeting, they
shall hold special meeting at some SUBJ
: sequent time thereafter for the purpose
, by giving thirty days notice thereof in
r some newspaper in general circulation
in such county. The directors shall
. hold their offices until their successors
are chosen and qualified: but no person
: shall be director after ceasing to be
| stockhelder. Immediately after tn,
t elections of directors, they shall elec
a one of their number president of th'
!; corporation, and may appoint such 9th
: er officers and agents as they may deem
o proper to transact their business ant
f prescribe the amount of compensation
: to be allowed them for their services
e and such officers and agents, or eithe
o of them, when requiredby the bylaws
f shall give bonds to the satisfaction o
d the directors Or president, as the by
e laws may direct, for the faithful dis
|; charge of the trusts committed to them
d shall have power and are hereby author
s lied to make such rules, regulation
It and bylaws, as may be necessary fo
# their regulation, not inconsistent wit
h the constitution of this State. The di
n rectors shall have the general manage
is ment of the affairs Of the company
It and may dispose of the residue of tn
: capital stock at any time remainin
unsubscribed, in such manner as th
J. stockholders for the time being ma
1t prescribe, and shall employ the capita
l. and means of the company as the
is shall deem best for the company, i
o carrying on the business for which
s. was organized, and the erecting G
n proper buildings, and the improyemen
: Of their grounds and other proper pul
= poses connected with and pertaining t
h the said business of the company, SUI
ject always to the control of the stock
holders; they shall cause record to b
IS kept of all stock subscribed and trans
ferred, and of all business transaction
and their books and records shall at a
reasonable times be open to the inspee
ton of any and every stockholder; the
shall also, when required, present I
,r the stockholders, reports in writing, (
,r the situation and amount of business
= the company, and declare and max
such dividends of the profits frsm IL
4 business Of the company, not reducin
at the capital stock while they have GU
IS standing liabilities, as they shall dee
te expedient.
" Sec. 6. The persons named in sa
le certificate of incorporation, OR majo
ity of them, shall be commissioners
r open books for the subscription to tt
oe oanita1 stock of said conanapv at suf