M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1859-06-30

sualS' ouCH CcltluCdlc sudll De dChuOWl
edged, certified, and forwarded to the secre
tary Of state, recorded and copied in the SAINT
manner as is provided in the second section
of the act to which this is supplementary, ,anC
said certificate shall also be recorded in The
recorders Office Of the county in which sucl
company shall have lis principal Office for do,
ing business, and when so Incorporated, ar
hereby authorized to make said improvement
by the cleaning out Of said stream or stream:
erection of dams, Locke, aud all other things
necessary for said Improvement, as may be
named in their certificate of incorporation
and by the name and style provided in said
certificate shall be deemed body Corporate
with succession, and they and their asso.
ciates to have the said general powers as i:
provided in the third section of the act tc
which this is supplementary.
Sec 2. That The corporators named in said
certificate shall open the books of the said
company for subscription to the capita stock
OF said company, and so soon thereafter as
fifty per cent. of the capital shall be SUI
scribed land paid in money, they shall call
a meeting oithe persons who have subscribed
stock as aforesaid, and shall then aud there
proceed to elect five directors, who shall be
stockholders in The said company, who shall
hold their office as such directors for one
year from aud after said election, and until
their successors are elected and qualified, one
of whom shall be president, aud Que treas
urer and one secretary, to be named on the
tickets when voted for by the stockholders as
Aforesaid. Elch stockholder shall be ent.
tied 10 one vote for each and every share Of
stock that he may own, and after the first
election no stockhoider shall be entitled to u
greater number of votes than the number of
shares he may have paid into the said COM
pany.
Sec. 3. That the treasurer of said compa-
NY before entering upon the duties of his
office, shall enter into bond with good and
sufficient security, to be approved of by said
board OF directors, payable to the said COM
pary, conditioned for the faithful perform
ance of all and sngullr the duties ofhis said
Office, and that he wiIlwell and truly ac-
count Tor and pay over to the said COMPANY
all moneys and property thatshal from time
OF time come into his hands by virtue of his
said Office, and that he will use all due and
proper diligence to collect all moneys and
demands that from time to time sha be due
and owing 10 the said company which shall
be his duty By law to collect.
Sec. 4. The president sLaI preside at all
meetings when not otherwise incapacitated,
in which case, or in case of his absence the
board OF directors shall choose a president
from among lheit number, who shall perform
the duties OF the president at such meeting
and perform such other duties as may from
time to time be pointed out by the by laws
and rules of the said company.
Sec, 8. The secretary shall keep a record
Of all meetings Of the bolrd of directors and
other proceedings of said company not re-
qured TO be performed by any other Of the
officers Of said board, and perform such other
and further duties as may be assigned him
from time to time by the rules and bylaws
of the said company.
Sec. 6. That the said company shall have
power from time to time, at any regular
meeting of the board of directors, TO make,
alter or change such bylaws and luIes for
the government of The said company.
Sec. 7. That the directors ol the said COM
pany shall have power TO prescribe the rates
of toll said company shall be entitled to le-
ceive for the passage of any boat or other
water craft of any lock Or LOCKS upon said
Improvement, or for the running of Gny beat
or other water craft between the locks o(said
Sec. s. Tha. the comp2nsalonof the pres
Ident and other officers Of such company
shal! be regulated aud fixed by the rules and
bylaws ofsuch company from time to time.
WILLIAM b. WOODS,
Speaker If the House of representatives..
MARTIN WELHER,
President of the Senate.
April 6. 1859.