Dayton daily empire. [volume] (Dayton [Ohio]) 1850-1865, 1859-05-06
AN ACT
.[No 1851
April :, 1859

Section /. Be it enacted by the General Assembly
of the State OF Ohio, That any number OF natural
persons, not less than five, being citizens of and
State OF Ohio, may become a body corporate. with
all the Ights privileges. and powers conferred. aud
subject 10 all the restrictions Of this act.
See. 2. That any number Of persons as aforesaid
assoeiating themselves together for the purppose Of
transporting freight on any Of the navigabe rivers
in the state OF Ohio, and any oil the lakes and NAYS
igabe rivers bordering thereon, shall under their
hands and seals, make certificate, which shall
specify as follows; First the name assumed by such
company or association, aud by which it shall, be
known; second, the name OF the county or place
where the principal office Of such company is stu
ated third the amount Of capital stock not to be
lessthan two thousand dollars, and the amount Of
each share Such eertifcsts shall bs ackno Wedge
before justice Of the peace other proper off GER
and shall be forwarded to the secretary Of State,
who shall record aud earefu preserve the same 10
bis office, and copy thereof duly certified by the
secretary OF state under the crest seal Of the state
OF Ohio. shall be evidence OF such corporation or
company.
Sec. 3. That when the foregoing provisions have
been complied with. the persons nam ed as corpora
tors 10 said certificate, are hereby authorized 10
carry into effect the objects named ia aid ceuifi>
cate, in accordance with the provisions OF this act;
and they and their associates successors aud ass
by the name aud style provided n said certificate
shall thereafter be deemed body corporate, with
suceession with power to sue and be susd plead and
be impeaded, defend and be defended, contract
aud be contracted with; 70 make aud use . common
seal, and the same to alter or break at pleasure;
and to do all needfui acts TO carry Into effect the
bjects for which ii is created.
Sec. 4. Any company or aSsociation, organized
for the purposes aforesaid. shall have power to
build, purchase, aud hold such number OF steam.
boats OF other vesses. and such other personal
property, as may be deemed necessary for commenc.
ing and conducting The business OF the association;
and lhall have power 10 sell the same or any part
thereof, In such. manner, and for such purpose as
may be prescribed BY the rules aud regulations Of
the company, and not inconsistent with the laws Of
hisstale. And said company shall have power to
carry any articles o freight produee upon any Of
the navigabie streams IN ths state Of ohie snd on
any Of the lakes aud naVigable rivers bordering
thereoni aud shall be governed by the same laws
not inconsistent with this act, which govern ndyid.
uals in such en- plOymes.:.
See. 5. The annual meeting Of the stoeiholdsrs Of
sneh company, after the frat election Of directors
shall be held at soeh time the directors may pres
scribe, at "hishmseting the directors Of the
shall be eectedj aud such other lawful business done
Bs the stockholdeFs may deem Necessary Snd proper
and should they fail 70 elect directors Al the annual
meeting, they shall hold special meeting at some
subsequent time tor that purpose By giving thirty
days notice thereof 10 soma Newspaper IN general
cifcq atiOn 10 the county whsTe the principal Office
/ " hhril ouinpAu1 btNat0us AHs ulFtctOfb tuAkl
hold their Office until their successors are chosen
and qualified, and shall have power 10 fill sll Va.
ehneieS 10 their body, but no person shall be a d.
| rector aitsT ceasing TO be a ockhoder.-Imme.
diately after the election Of directors they shall
elect 0l their huulbsF president oi the coFpom.
ton, and may appoint sach other officers aad agents
they may deem proper to transact their business
aud may prescribe the amount ol eompensalion 10
be allowed for their sersieea, sad sneh officers and
agents, when required by the BY laws rules and
regulations shall give bone to the satisfaction Of the
directors Tor the faithful discharge Of The trust con
Initted to them. Said diEestor uhAll have power
and are hereby authorized 10 make such rules, reg
ulatiOnS and by laws may be necessary Tor their
regulation, not inconsistent with the constitution
aud laws Of this state, they shall have the general
management OF the Affairs Of the company. and
may dispose Of the residue Of all capital stock al
any time romaining unsubseribsd, 10 such manner
as the holde lof tbs time being mar pfeseribe
aud shall employ tho capital aud means q the com.
pany aa they shsll deem best foF carrying on the
business Tor which II was organised snbiset slwayi
to the control Of the stock holde lhey shall eause
record 10 be kept Of ell stock subscribed OF lrans
feTred aud Of all basiheH gansaetiGas, and theiI
books and records shall at all reasonable times BE-
open 10 The inspection Of any aud Of every stOckhol
eer, they shall alao wheu required prsseRt 10 tbs
sloekholdeFs reports in writing Of The situation and
| smOunl oi basiness OF the comPeny, and declare
aud make such dividsAds Of the pFalih q The com.
PAny not reducing the saPAi stosk while lbsy have
OnttlaRdsg lisbillss a. they skSll atSn sEPSaisnt