The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1859-06-29
LA w S OF OHIO:
PUBLISHED BY AUTHORITY.

ILNo-l65J - AN ACT 80
To authorize associations Of persons for carry
/ ing freight on any of the Bavagable waters
] of the State of Ohio, and the lakes and nav
igable rivers bordering thereon. 30 sr5s Al,
1 Sec, I. Be 1T enacted by the General AS.;
senn5lyof the State Of Ohio, That any number Of
natural persous not less than Eve, being citi.f
zens of the State of O hio, may become a bodga
corporate, with all the rights, privileges and
powers conferred and subject TO all the restric-.
tions of this act
! Sec. g. That any number 6f persons as
aforesaid, associatiBg themselves together for
the purpose of transporting freight on any qof.
the pavigable rivers in tho State of Ohio, and
any the lakes and navigable rivers bordering
thereon, shall, VI der their hands and seals make
certificate, which shall specify as foil ws -
First, the name assumed by such co-apanY or
association, and by which it shall be known
second, the name of the county or place where
tie princi pal office of such company is situatS;
third, the amount OF capt. al stock, not to be
less than two thousand dollars, and the amount
of each share Such certificate shall be ac.a
kaawiedged before justice of the peace or
other proper officer. and shall be forwarded td
the secretary of state, who shall record and =
carefully preserve the same in his Office and
copy thereof, duly certified by the secretary,
of state, under the great seal of the state of
Ohio, shall be evidence of such corporation or
company. sL - 4Hi 9Ig -
Sec. 8. That when the foregoing provis.l
ions have been complied with, the persons
named as corporators in said certificate are5
hereby authorized to carry iuto effect the obSi2
ject named in said certificate, ia accordance
with the provisions of this act; and they and 2
their associates, successors and assigns, bysh If
name aud style provided in said certificate
shall thereafter be deemed a body eorporate,soo
with succession, with pow er to and be sued is
plead and be i'm pleaded defend and be defend iAI
ed, contract and be contracted with to make
and common seal, and same to alter or
break at pleasure; and to do all needful acts
to carry into effect the object for which it is =
created. a15 as.-is3l1
Sec Any company or association, orr
ganized for the purposes aforesaid, shall have
power to build, purchase, and hold such num- 20
Der of steamboats, or other Vi s.es, a. such Z
other personal property, as may be deemed
necessary for the commencing and conducting lf
the bushes of the association and shall have
power to sell the same, or any part thereof IN
such manner, and for such purpose as may be
prescribed by the rules and regulations of the,
and not inconsistent with the laws :
of this state. And said company shall hav6
power to carry any articles of freight or pro. 2
duce upon any of the navigable strearns 10 thes5e
state of Ohio, and on any of the lakes and "a
navigable rivers bordering thereon; and shall ia
be governed by the same laws, notinconsstent o
with this act, which govern individuals 10 such 2
employments. sliaa'l -i.a1 ,s.s rea p 1nai .9fit
Sec. S. The annual meeting of the stock. ~
holders of such company, after the FIRST cleo. "A
ion of directors, shall be held at sucb a time Z
rs the directors may prescribe, az which meets q
ng the directors of the company shall be %
elected, and such other lawful business done NJ
IS the stockholders may deem necessary and
'roper; and should they fail to elect directors
C the annual meeting, they shall hold a spe-,ib
ial meeting at some subsequent time for that sd
purpose, by giving thirty days notice thereoflid
q some newspaper in general ciIeniatio1 irlis1
he county where The principal Office of such
ompany is situated. The directors shall hold,
heir Office untin their successors are chosen
nd qualified, and shall have power TO FIJI alr 4,
acancies in their body but no person shall -
e director after ceasing to be a stockholder.
Immediately after the erection of directors.
hey shall elect one of their number presidents
the corporation, and may appoint such otheECS
Ulcers aud agents as they may deem propefr5s
contract their business, and may preseribe 20
De amount of compensation to be allowed for I,
leir services; and such officers aud agents.
hen required by the bylaws, rules and regu-
tious, shall give bond to the satisfaction of
e directors for the faithful discharge of the
ust committed to them. Said directors shall
I'VE power and hereby authorized to make
ch rules, regulations ana by laws as may be 70
cess"ry for their regulation, not inconsistent
it'll the constitution and laws of this state = III
ey shall have general management Of the af- az
irs of the company, and may dispose of the
sidue of all capital stock at any time re- 5)w
aiming unsubscribed, in such manner as the
,ckholders for the time being may prescribe. ''''
d shall employ the capital and means of Tho
mpaDy as they shall deem best for carrying
the business for which it is organized, SUBJ SIR
It always to the control of the stockholders; 'as
~ shall cause record to be kept of all
ck subscribed OF transferred, and all buei.
is trausa ctons, and their books aud records
Ill at all reasonable times be opened to the
pection eff any and every stockbolder; they
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