The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1859-06-17


body corporate, with succession. with power
to sue snd be sued, plead and be implesded
defend and be defended. conttsct be con
uaeied with, acquire and convey OF pleasure,
all such real and personal estate as may be
necessary and convenient TO carry into effect
the objects Of the incorporation; to make
and use common seal, and the same to al
Ter at pleasure, and do all needlul acts TO
carry into effect the objects for which Vt was
ctestedj ard such company shall possess all
The powers. aud shall be subject to all the
rules and restrictions Of this act.
Sac. 4. ANY company or sssocistionj OF.
esnized for the purposes Aforesaid, shall
have power to take by purchase or other.
wise, and hold such real and personal pro-
eTty and estate. as may be deemed neces-
sary fot successfully commencing and con.
du citing the business OF the association, and
shall have power 10 lease, sell, or convey or
mortgage the same, or q pert thereof, in such
manner aud for such purposes as may be
prescribed by the rules aud regulations OF
the company. aud not inconsistent with the
laws Of this state. And said company shall
also have power TO deal in the transportation n
and sale of the minetal waters Welded by
their springs, and TO manufacture glass and
other vessels for holding the same; to en-
gage in quafrying stone. marble. or slate:
mining coal, ores, and other minerals situ.
ated on their lands, and manufacturing the
same, in whole OF in part, OF both, and to
erect aud provide buildings for the accom-
mediation OF visitors and Others itequenting
said spring or springs, and TO demand and
receive compensation from said person or
petsons.
| SIC. 5. The annual meeting OF the stock
holders Of such companies shall be held on
the first Tuesday OF May in each year, at
which meetin the DiTec tors Of the compan,
shall be elected, and such other lawful bus
mess done as the stock holders shall deem
necessary and proper; and should they fail
/ 10 elect Directors at their annual meeting
they shall hold Q special meeting at come
subsequent time thereafter for the purpose
by giving tnltty days notice thereof IN some
newspaper in general circulation in suct
county. The Directors shall hold their of.
Gees until their successors are chosen and
lQualifed: but no person shall be Director
after ceasing to be a stakeholder. lmmedi.
lattly after the elections Of Directors, they
shall elect one OF their number President OF
, the corporation. and may appointsuch othei
= officers aud agents as they may deem propei
? Ito transact their business, and prescribe the
amount OF compensation 10 be allowed them
! for their services and such officers and
agents, or either OF them, when required by
= the by. laws, shall give bonds to the sails'
faction OF the Directors OF President, ns the
by laws may direct, for the faithful dis
l charge OF the trusts committed 10 them
: snail have power and are hereby authorized
TO make such rules. regulations, and by
laws as NAV be necessary for their iegu latIon
not inconsistent with the Constitution o
this state. The Directors shall have tn,
general management Of the affairs OF The
company, aud may dispose Of tue residue o
the capital stock at any time remaining un'
Subscribed, in such manner as the stock
,holdefs for the time beng may prescribe
aud shall employ the capital and means o
the company as they shall deem best for III,
company, in carrying on the business 70
which 1t was organized, and the erecting o
proper buildings. and the improvement o
) their grounds and other proper purpose
connected with and pertaining to the sal,
> business OF the company, subject always Il
the control Of the stockholders; they shal
cause a record TO be kept Of all stock sub
lscribed aud transferred, aud OF all business
transactions. aud their books and records
shall at all reasonable times be open to th
, inspection OF any anl every stockholler
they shall also, when required, present Il
the Stockholders, reports in writing. OF tn
u situation and amount OF business OF tn
company, and declare and make such divi
dends of the profits from the business of III
i company, not reducing the capital Stoc
while they have outstanding liabilities, a
: they shall deem expedient.
SEC. 6. The persons named in said certi
fcaie Of incorporation, or majority oil them
shall be commissioners to open books 10
0 subscription 10 the capital stock Of sal
a company, at such times aud places as the
shall deem proper; and the said compan
. are authorized to commence operations upo
the subscription OF ten per cent. Of said stock
Sic. 7. Au installment Of twenty dolla,
II on each share Of stock shall be payable {
. the time OF making the subscription, an
the residue thereof shall be paid IN such IN
! Stalments and at such times and places
g and to such persons, as may be required b
/ the Directors Of such company.
(: SEC. 8. All STOCKHOLDERS OF any such as
ISOLATION or joint stock company shall b.
/. deemed and held liable 10 an amount equa
10 their stock subscribed in addition 10 SAT-
stock Tor the purpose OF securing the credit
ors OF SAID company.
SIC. .. This act to take effect from an
after its passage.
WILLIAM d. WOODS,
/. Speaker Of the House OF Representatives
MARTIN WELKER,
President of the Senate
/ M,roh ,e 1870