The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1859-07-08

state VINO shall record and carefully pro- /
servo tho samo in his Office; and n copy
thereof, duly certified by tho secretary of
state, under tho great seal Of :ho state of
Ohio, shalt be evidence Of such corporation /
or company.
SEC g. That whom tho foregoing pro-
visions havc beon complied with, the persons
named as corpOrators in said certificate, are .
hereby authorized to carry into effect tho .
objects named in said certificate. in accor .
dance with the provisions Of this act; and .
they and their associates, successors and
assigns, by tho namo and style provided in .
said certificate, shall thereafter be deemed u
body corporate, With succession, with power
to sue and be sued, plead and be implicated,
defend and be defended, contract aud be
contracted with; to mako aud use a common
seal, and tho same to alter or break at
pleasure and to do all nce1ful acts to car
ry into effect tho objects for which it is
created
SEC. ! Any company or association,
organized for tho purposes aforesaid, shall
have power 20 build, purchase, and hold
such number Of steamboats, or other vessels, /,
and such other personal property, as may
be deemed Rcccssary fog commencing ana
conducting the business Of tho 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 company, and
not inconsistent with tho laws Of this state.
Aud said company shall have power to car
ry any articles OF freight or produce upon
any of tho nayigablc streams in the state of
Ohio, and on any of tho lakes and naviga.
bic rivers bordering thereon and shall be
governed by the same laws, not inconsst-
ent with this act, which govern individuals
in such cmployments.
SEC 5. The annual meeting of the
stockholders of such company, after tho
first election of directors, shall be hold at
such time as tho directors may prescribe,
at which meeting the directors of tho COM
pany shall be elected, and such other lawtnl
business done as the stockholders may deem
necessary and proper: and should they
fail to elect directors at tho annual meet
ing, they shall hold special meeting at
some subsequent timo for that purpose,
by giving thirty days notice thereof in
some newspaper IN general circulation in
the county whero tho principal Office of
such company is situated. The directors
shall hold their Office until their SUCCESSORS
arc chosen and qualified, and shall have
power to fill all vacancies in their body /;
but no person shall be director aftor ceas-
; ing to be stockholder. Immediately after
the election Of directors, they shall elect
ono of their number president of the cor
poration, and may appoint such other off.
GERS aud agents as they may deem proper
to transact thoiI business, and may pre-
scribe the amount OF compensation to bc
allowed for their services and such officers
and agents, when required by tho bylaws
rules and regulations, ,shal! give bonds to tho
-. t.. NnfN hi
discharge Of tho trust committed to them
Said directors shall have power and are
hereby authorized to make such rules, rogu'
lations and bylaws as may be necessary fo'
their regulation, not inconsistent with the
constitution and laws of this state; they shall
have tho general management of the at-
fairs of tho company, and may dispose OF
the residue of all capital stock at any time
remaining unsubscribed. in such manner
as the stockholders for the time being may
prescribe, and shalt employ tho capital and
means of the company as they shall deom
hest for CARRYING on the business Cor W hlch
it was organized. subject always TO the con
troll of tho stockholders (; they shall cause
q record to bo kept OF all stock subscribed
or transferred, and of all business transac.
tions. and their books, and records shall at
all reasonable times be open to the inspec.
ton of any AID cvory stockholder; they
shall also. when required present to the
stockholders reports in writing OF tho siIua-
ton and amount of business OF the company,
Z and declare anG make such dividends OF
u tho profits of the company, not reducing the
capital stock while they have outstanding
Il liabilities, as they shall deem e1pedent.
J. SEC. s. The persons named in said ccr-
= tfcato or incorporation, or a majority oi
y them, shall be commissioners to open books
5 for subscription to the capital stock o: sal,
II company, at such times and places as the!
70 shall deem proper and said company ar
q authorized to commence operations upo
Is the subscription of eighty per cent. Of sat
stock. An installment of thirty per CEN
u /, on each share of stock shall be made in cas-
i at the time of making the subscription, an
y tho residue thereof shall be paid in sucl
G nstallmonts, at such times aud places, an,
J to such persons. as may be required ty tn
u directors of such company. II any person
- or persons subscribing to the capital stool
u of such company, shall fail to make pay
, ment of such subscription, or any par
u thereof, at the time or times prescribed b,
: tho directors, the said company shall have
{ power to proceed by suit to collec: the sam,
J. in any court of competent jurisdiction.
i SEC. 7: Each stockholder shall be in ii
yidraliy Liable for all the debts of tin
= company, in an amount equal 10 tho amour
I of his subscription thereon in addition
! thereto.
SEC. 8. This act shall bo in force from
and after its passage.
WILLIAM B. WOODS,
Speaker Of the House Of Representatives..
MARTIN WELKER,
President Of The Senate.
April ., 1859.
[ No. 1891
AN ACT
# To provide tor the renewal, and TO requisite lH'
e final payment OF the Funded Debt OF 'Ao o'ay''
IS SECTION /. BE il enacted by me Gen
n eraL ASSEMBLY Of the STATE @ ono
p That the commissioners OF the sinking innd To-
# he tims brin1 are hereby auIhonzed, tuIIy EN-
y nnwcreI and required atpcrlods previous TO anJ
IS oo- l,, lime that any portion OF the funded deb
Of f III Sfafs shall become payable according Il
h o trIs expressed upon the face OF the certificate
IHo-,f Ho IN make ont in due form aud manner, ant
,i,b iii the sanctions required by law for the max
- , fcrrtihcates of the Iunded debt OF this State
ma issue such an amount and number OF such Ger
rs ti6cat of tho funded debt of this State as shal
n be sufficient IN amount to redeem 50 much Of sal6
debt then about coming payable, shall not have
# been paid or fully provided for by me application
a OF the sinking fund established ana h&edp ING
.at oil tal