The Highland weekly news. [volume] (Hillsborough [Hillsboro], Highland County, Ohio) 1853-1886, 1859-06-02

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record and carefully preserve the Same
in his Office and a copy thereof duly
certified by the Secretary Of State, un-
der the great senl Of the State Of Ohio,
shall be sent to the President Of such
corporation or company.
Sec. 3. That when the foregoing pro.
visions have been complied with, the
| persons named as corporators In said
! certificate. are hereby authorized to care
/ ry into effect the objects named In said
| certificate, in accordance with tho pro-
visions Of this act, and they and their
associates, successors aud assigns, by
tho name and stylo provided in said
certificate shall thereafter be deemed o
/ body corporate, with succession, with
| power to sue and be sued. plead and DO
Iimploaded, defend and be defended, con-
tract or be contracted with. acquire and
convey, at pleasure, all such real and
/ personal estate as may be necessary
and ooGveuient to carry into effect tho
objects Of the incorporation: to make
and use a common seal and tho same
TO alter at pleasure, and do ell ucedful
acts TO carry inro effect the objects for
/ which it was created; and such company
shall possess all the powers, and shall be
subject to all the rules and restrictions
Of this act
Sec. 4. Any company or association,
organized for the purposes aforesaid
shall have power to take by purchase
or otherwise, and hold such real and
: personal property aud estate, as may DO
j deemed necessary for successfully com
mencing aud conducting the business
Of the association, and shall have pow
er to lease, sell or convey, or mortgage
i the same, or a part thereof, in such
manner and for such purposes as may
, be prescribed by tho rules and regula-
tious Of the company, and not inconsist-
o ent with the laws of this State And
o. said company shall also have power TO
deal in the transportation and sale Of
J the mineral waters yielded by their
springs, and to manufacture glass and
other vessels for holding the same; to
B. engage in Quarrying stone, marble or
slate; mining coal, ores and other min
erals situated on their lands, and man
ufacturing the same, in whole or in
part, or both, and to erect aud provide
buildings for the accommodation of
n visitors aud others frequonting said
f spring or springs, and to demand and
n receive compensation from said person
n or persons.
'' Sec 5. The annual meeting of tho
= stockholders Of such companies shall
" be held on the first Tuesday of May in
% each year, at which meeting the diroc-
" tors of the Company shall be elected,
and such other lawful business done
as the stockholders shall deem ueccs-
sary and proper; and should they fail
% to elect directors at their annual meet
B." ing, they fail to elect directors at their
annual meeting they shall hold spc-
~ cial meeting at some subsequent timo
u thereafter for the purpose, by giving
thirty days notice thereof in some news
paper in general circulation in such
0 county. The directors shall hold their
y Offices until their successors are chosen
~ and qualified; but no person shall be
director after ceosing to be a stockholdor.
~ Immediately after the elections Of di-
rcctors, they shall elect one Of their
&c number president of the corporation,
and may appoint such other officers and
agents as they may deem proper TO
S transact their business, and prescribe
tho amount Of compensation to be al
lowed them for their services; and such
officers and agents, or either Of them,
when required by the bylaws. shall give
N bonds to the satisfaction Of the direc-
tors or president, as the bylaws may
direct, for the faithful discharge of the
II trusts committed to them shall have
a power and are hereby authorized to
nc make such rules, regulations and by.
~ laws, as may be necessary for THEN
regulation, not inconsistent with the
constitution Of this State. The direo,
:" tors shall have the general management
,.I,I of the affairs Of the company, and may
IA dispose Of the capital stock at any time
d remaining uusubscribed, in such man
's ner as the stockholders for the time be-.
>" ing may prescribe, and shall employ
AZ the capital and means Of the company
VI as they shall deem best for the compa-
, nv, in carrying on tho business for
u" which it was organized, aud the erecting
&c. of proper buildings, and the improve
ment of their grounds and other prop
or purposes connected Win Auu NbL
tanning to the said business Of the com
pany, subject always 20 the control Of
the stockholders; they shall cause a rec
ord to be kept Of all stock subscribed
Z. and transferred, and Of all business
i transactions, and their books andrecord
.1' shall at all reasonable times be open Il
'0- the inspection Of any and every stock
holder; they shall also, when required
'"' present to The stockholders, reports il
l"l writing, Of The fituation aud amount Of
5IsS business Of the company. and dcclar
'e' and make such dividends Of tho profit
'%- from the business of the company moi
me reducing the capital stock while the
- have outstanding liabilities, ns they shal
- deem ezpediont.
NO Sec G. The persons named in sal,
ne certificate Of incorporation, on mojori
,n- ty of them, shall be commissioners q
on open books for the subscription 20 th
M capital stock of said company 90 sucI
nd times and places as they shah deem
oIl proper, and tho said company are au
I'D. thorizod to commence operations upo'
on the subscription Of ten per cent Of aai
I.tnrE