The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1859-05-18

make certificate. which shah specify as 90
lows: First. the name assumed hy such C0mpa-
ny or association, and By which II shall be-
known: second the name oi tee county or place
where the principal office Of such company IS
situate: third, the amount OF capital stock, not
10 he less than wo thousand dollars, and the
amount Of each share Such certificate sEall be
ACKNOWLEDGED before Justice Of the peace or
other proper officer. and sha,. he forwarded TO
the secretary OF State, who shall record and
carefully preserve the same in his Office and "a
copy thereof duly certified by the secretary OF
State. unier the great seal of the State oi Ohio,
shal! be evidence Of such corporation OF compa
ny.
Sec 3 That when the foregoing provisions
have been complied with, the persons named as
corporators in said certificate, are hereby au-
thorzed to carry into effect the objects named
in said certificate in accordance with The pro.
visions Of this act and they and their associates,
successors and assigns by the name and style
provided in said certificate, shall thereafter be
deemed body corporate, with succession, with
rover 10 SIZE and he sued, plead and be implea-
ded, defend and he defended, coatract and be
contracted with; to make and use a common
seal, and the same to alter or break at pleasure;
and to do all needml acts to carry into effect
the objects for which it is created.
Sec. 4, ANY company or association, organ
ized for the purpose aforesaid, shall have power
to build purchase and hold such number OF
steamboats, or other vessels, and such other per-
sonal property. as nav be deemed necessary for
commencing and conducting the business Of the
association; and shall have power to sell the
same, or any part thereof in such manner, and
for such purpose, as may he prescribed by the
! rups and regulations of the company, and not
inconsistent with the laws OF this State. And
said company shall have power to carry any ar
tcle Of freight or produce upon any OF the nsyi
gable streams in the state OF Ohio, and on any
of the lakes and nayigable rivers bordering
thereon and shall be governed by the same
laws, not inconsistent with this act, which
govern Individuals in such employment
Sec 5. The annual meeting Of the stock
holders Of such company, after the first election
ofdirectors. shah be held at such time as the
/ directors may prescribe, at which meeting the
directors Of he con pany shall be elected, and
such other lawful business done as the sock
! holders may deem necessary and proper; and
should tkey fail to elect directors at the annual
meeting, they shall hold a special meeting at
/ some subsequent time for that purpose, by Civ
/ ing thirty days notice thereof in some newSpa-
/ per il general circulation in the county where
the principal Gfliee Of such company is situated.
! The directors shall hold their Office unti their
successors are chosen and qualified, and snail
have power to fiji all vacancies in their body;
/ hut no person shall be a director after ceasing
/ to be stakeholder. Immediately after the e.
lection Of directors they shall elect one OF their
number president oi the corporation, and may
appoint such other officers and agents as they
may deem proper to transact their business,
! {
to be allowed for their services, and such Off
GERS and agents, when required by the law by
laws, rules and regulators, shall give bond ~
the satisfaction Of the directors for the faithful
discharge Of the trust committed to them
Said directors Sh,ll have power ard are hereby
authorized TO make such rules, regulations and
by-la rs as may he necessary for their regula-
ton, not inconsistent with the constitution and
law OF this state; they shall have the general
management Of the affairs Of the company and
and may dispose Of the residue of all
all capt. al stock at any time remaining unsub-
scrbed, in such manner as the stockholders for
the time being may prescribe, and shall employ
the capital and means Of the company as they
shall deem best tor carrying on the business for
which it was organized, subject always to the
contr.l of the stockholders; they shall cause a
record to be kept of all stock subscribed or trans
terred and ofall business Transactions and their
books and records shall Mt all reasonable times
be open to the inspection o any and every stock
holder; they shall also, when required, present
to the stockholders reports in writing of the sit
uation and amount Of business Of the company,
and declare and make such dividends oil the
profits Of the company, not reducing the eapi-
talstock while they have outstanding liabilities,
as they shall deem expedlent.