, 1864-10-03

portation Of persons and property on said
road, or any part thereof.
See. IA. And be IL further enacted, That
the directors chosen in pursuance Of the
first section Of this act shall, so soon as may
be after their election, elect from their own
number president and vice president; and
said board Of directors shall, from time to
time, and so soon as may be after their cleo
ton, choose treasurer and secretary, who
shall hold their Offices at the will and plea
sure Of the board Of directors. The trea-
surer and secretary shall give such bonds,
with such security as the said board from
time to time may require. The secretary
shall, before entering upon his duty, be
sworn to the faithful discharge thereof, and
said oath shall be made matter Of record
upon the books of said corporation. No
person shall be director Of said company
unless he shall be stockhOlder, and quail
fed to vote for directors at the election at
which he shall be chosen.
Sec. Is. ARd Be IL further enacted, That
the president, vice president, and directors
shall hold their Offices for the period indi-
Gated in the bylaws Of said company, not
exceeding three years, respectively, and
until others are chosen in their place, and
qualified. In case it shall SO happen that
an election Of directors shall not be made
on any day appointed by the bylaws of said
company, the corporation shall not for that
excuse be deemed to be dissolved, but such
election may be holden on any day which
shall be appointed by the directors. The
directors, Of whom seven, including the
president, shall be quorum for the trans
action Of business, shall have full power to
make and prescribe such bylaws, rules, and
regulations as they shall deem needful and
proper touching the disposition and manage
ment Of the stock, property, estate, and
effects Of the company, the transfer Of shares,
the duties and conduct Of their officers and
servants, touching the election and meeting
Of the directors, and all matters whatsoever
which may appertain to the concerns Of said
company; and the said board of directors
may have full power to gil any vacancy or
vacancies that may occur from any cause or
causes from time TO time in their said board.
And the said board Of directors shall have
power to appoint such engineers, agents,
and subOrdinates as may from time to time
be necessary to carry into effect the object
Of the company, and to do all acts and things
touching the location and construction Of
said road.
Sec. 10. Ard be f further enacted, That
il shall be lawful for the directors Of said
company to require payment Of the sum Of
ten per ceutunI cash assessment upon all
subscriptions received of all subscribers, and
the balance thereof at such times aud in
such proportions aud on such conditions as
they shall deem to be necessary to complete
the said road aud telegraph line within the
time in this act prescribed. Sixty days
previous notice shall be given Of the pay
ments required, aud Of the time and place
OF payment, by publishing notice once a
week in one daily newspaper in each Of the
cities Of Boston, New York, Philadelphia,
and chicago; and in case any stockholder
shall neglect or refuse to pay, in pursuance
of such notice, the stock held by such per-
son shall be forfeited absolutely to the use
Of the company, and also any payment or
payments that shall have been made ON ac-
count thereof, subject to the condition that
the board Of directors may allow the re-
demption on such terms as they may pre-
scribe.
See, IL. And Le IL further enacted, That
the said company is authorized to aceepttO
its own use any grant, donation, loan, power,
franchise, aid, or assistance which may be
granted to or conferred upon said company
by the Congress of the United States, by
the Legislature Of any State, or by any cor
poratiOD, person, or persons; and said cor
poration is authorized to hold and enjoy any
such grant, donation. loan, power, franchise,
aid, or assistance, to its own use, for the
purpose aforesaid.
See. Is. And Be IL further enacted, That
said Northern Pacific Railroad Company
shall obtain the consent Of the Legislature
Of any State through which any portion Of
said railroad line may pass, previous to COM
mencing the construction thereof; but said
company may have the right to put on en-
giueers and survey the route before obtain
lug the consent Of the Legislature.
See. 10. And be IL further enacted, That
unless said Northern Pacific Railroad Com
pany shall obtain bona fide subscriptions to
the stock of said company to the amount Of
two millions Of dollars, with ten per centum
paid within two years after the passage
and approval Of this act, it shall be null
and void. ,
Sec. 20 ARd be IL futker enacted, That
tho hakfer IN uceomnlish tho object Of this