The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1859-05-25

authorized tn carry into effect the objects
ramed 10 said certificate, in accordance with
the provisions of this act, and~they and their
ass ciates. SUCCESSORS aud assigns, by the name
and style provided in sid certificate, shall
thereafter be deemed body corporate, with
succession, with power to cue and be sued,
plead and be impleaded defend and be defen-
ded. contract or be CONTRACTED with, acquire
and convey, at plea ure, all snch real and per-
sonal estate as may be necessary and couven
| lent to carry into effect the objects of The liz
| Corporation; to MIKE aud use common seal.
aud the same to alter at pleasure, ana d" all
needful acts to Curry into effect the objects for
which il was created; and such company shall
possess all the powers aud shall be SUBJECT TO
all the rules and restrictions of thIsact-
SEC. 4. Any company association, or
ganizsd for the purposes aforesaid. shall have
power to take by purchase otherwise ard
hold such real aud personal property and es
tate, as may be deemed necessary for success
fully commencing aud conducting he business
of the association. and shall have power to
lease, sell or convey. or mortgage the same, or
part thereof, in su manner. and for such
purposes may be prescribed by the rules and
regulations of the company. and not inconsist-
ent with the laws of this State. And said CON-
pany shall also have power to deal in the trans
pOrtation and sale of the mineral waters yield
ed by their springs, and TO manufacture glass
and other vessels for holding the same; to en-
gage in quarrying stone, marble or slate; min
ing coal, ores and other minerals situated on
their lands, and manufacturing the same, in
whole in part, or both, and to erect and
provide buildings for the accommodation of
visitors and others frequenting said spring or
springs and to demand and receive compensa-
tion from said person or presons
Sec. The annual meeting of the stock
holders of such companies shall be held on the
fist Tuesday of Nay in each year, at which
meeting the directors 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 subsequent time there
after for the purpose, by giving thirty days
notice thereof In some newspaper in general
circulation in such county. The directors
shall hold their Offices until their successors
chosen aud quilted; but no person shall
be director after ceasing to be stockhold-
er. Immediately after the election of direct
ors. they shall elect one of their number pres
ident of the corporation, and may appoint such
other off cers aud ageut as they may deem
proper to transact their business and prescribe
the mount of usa:inn to be allowed
them for their services; aud such officers and
agents, o. either of them, when required by
the by laws. shall give bonds o the satisfaction
of the directors nr president, las tha By laws
may direct for the faithful discharge of the trusts
commit;e TO them; shall have power aud are
hereby authorized to make such rules, regnla,
ton. and bylaws as may be necessary for their
regulations not Inconsistent with the cnnstitu
of this state. The directors sha,l have the
general management OF the AIRS of the onm-
pany. aud may dispose of the residue of the
capital stock at any time remaining unsub-
scribed III such manner the stockholders
for the time being may prescribe, and shall
employ the capital and means of the company
AS they shall deem best for the company, in
carrying on the basiness f,r which it was or
ganiZad, and the erection of proper buildings.
and the i'm orovement of their grounds. aud
other proper purposes connected with aud per
tanning said business of the company, sub
jpct always to the coptrol of the stockholders;
they shall cause a record to be kept of all
stock suscrbed and trans ferred, an dof all bu
siness transactions, aad their poks aud records
shall at all reasonable times be open to the
inspection of any and every stockholdcr; they
shall also. when required present to the stock
bolders, report in writing. of the situation aud
amount OF business of the company, aud de-
clare and make such dividends of the profits
from the business of the company, not reduc
ing the capital stock while they have outstnnd
ing liabilities. as they shall deem expedient
Sec. 6 The persons named in said certi6
cate of Incorporation or majority of them,
shall be commissioners to open books for the
to the pital stock of said com
any, at such times and places they shall
deem proper, and the said company author
ized to commence operation upon the subscrip
tion of ten per cent. of said stock.
Sec. T. An instalneut of twenty dollars
on each share of stock ahall be payable
at the time of making the subscription,
and the residue thereof shall be paid
in such installments aud at such times and
places, and to such persons, as may be requir-
cd by the directors of such company
Sec. s. All stockholders of any such as
sociation or joint stock company shall be deem
ed and held liable to amount equal to their
stock subscribed in addition to said stock for
the purpose of securing the creditors of said
Sec. 9. This act shall take effect from and
after its passage.
WILLIAM B. WOODS,
Speaker of the Hons, of Representatives.
MARTIN WELKER,
President of the Senate.
March l6, 1859.
mo. 50 AN ACT
Amendatory of the twelfth section of the act
to provide for laying out and establishing
Free Turnpike Roads, passed March IL,
1s45.
Section 1. BE it enacted by the General
Assembly of the State of Ohio, That the
twelfth section of the act entitled tan act TO
provide for laying out aud establishing free
turnpike roads," passed March l2. lS45, be
aud the same is hereby amended as to read
as follows: Section 2 The commissioners
of all free turnpikes shall be allowed aud paid
for their services one iollar and ffty cents
per day. each. while actually employed in the
necessary business of such roads; and when any
vacancy shall happen in snch board. by death.
resignation or otherwise. the commissioners
of the county in which soch vacancy may oc-
cur, on being notified thereof. shall fill the
same as often as any sach vancaDcy shall oc-
cur.
Sec g The twelfth section of said act is
hereby repealed This act shall take effect
and be in force from a. d after it's passage