Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1897-05-27

Of thom, named in the first section OF
this act, shall have power to open books
for subscriptions TO said stock at such
times and places as they may deem ex-
peoient, and when the said l, 600 shares
sbalI have been subscribed for, and
s25, 900 shall have been paid in (pro-
yjded, however. that said payment OF
s25, 600 for said stock go subscribed for
may be made either in whole or in part
by the conveyance of real estate, or the~
transfer OF goods and chattels, or se-
curjty for the payment of money. to
said corporation. and il SO made shares
Of stock issued 10 consideration thereof
shall be as valid as ii said shares had
bad been paid for in money, then the
share. boluers shall meet at Whining
ton, adopt bylaws, aud erect not less
than five nor more than nine directors, |
The number of whom shall be fixed by |
the by-laws, to serve until the next |
annual election, or until their successors |
shall be duly qualified and elected
every director shall be 6tockholder ID
the company; the directors 30 elected
are hereby authorized and empowered
in the name and in behalf OF the COM
many to exercise all rights and privi-
leges which are, or intended TO be,
hereby given ubiect only to such liza
bilities an ether share holders are sub
| iect to, which liabilities are no more
| than for the payment or delivery to the
corpo, alton of the consideration re-
| naming due on the shares of stock
subscribed for. or held by them re.
spectivey, according to the terms of
| the subscription therefor. All such In
creases of the capital stock may be in
the whole or part either common or
\ preferred stock, as tho corporation may
from time to time determine; and the
said corporation is hereby authorized
and empowered to issue any such in
crease Of stock or any portion thereof in
payment OF amy debt or liability and IN
purchase Of any property, real or per-
sonal, ami all stock SO issued shall be
considered as full paid and shall not be
liable to any further assessments or
calls; and said corporation may gener-
allv sell or dispose of any portions OF
said increas,s ,s of stock on such terms
and conditions as it may agree upon
with any parties, or corporation. or as
IL may find advisable in the doing Of
any act authorized by the provisions OF
this act. Each and all of said shares OF
stock shall be personal property, and
/ shall be transferable on the book OF
the corporation in sucn manner as the
by laws shall provide: and whenever
any transfer OF shares shall be maue for
collateral security, or conditionally, and
! not absolutely, the same shall be SO ex'
, pressed in the entry of such transfers.
Ill Sec. Z. The principal Office of said
corporation shall be in the city OF Will
. mingtou, but it may be subsequently
! located elsewhere in this State, as may
= be provided in the bylaws from time tt
!. time provided, however, that said cor
Il poration may have and maintain oihcet
= elsewhere.
Il Sec, 8. The bylaws may be changed
! alterad and amended by the directors a
: apy meeting duly called and held fol
Z the purpose by an affirmative maiorit.
!, vote Of a majority OF those attending, |
4 quorum, as fixed by the by laws, heint
i present, The location OF the race tract
: Of the corporation may be changed b.
;. | amendment of the by laws to any plac
;. within New Castle county. The by
= laws shall also specify the place a
which the annual and other meetings O
:, the stockholders shall be held, all Q
y which meetings may be held at an
~ place In the State of Delaware, desig
y. mated by the by y-laws
" Sec. 8. Upon every increase OF th
le capital stock of this company, and upo
ID every change of name of this COMPANY
"a certificate of tho fact shall be mad
n out and signed by the president an
NJ secretary of the corporation, and file
rs in the Office OF the secretary OF State, Q
r Dover.
IA Sec. 10. The officers of the corporatio
Of shall be president, vice presldenl
of general manager. secretary and treal
4. urer, and a board OF directors of nj
or esa than five persons nor more tha
ia nine, all of which officers and director
Of shall be elected by the stockholders
of the by laws may presGrIbe. MI election
- shall be by ballot. At all stockholder
ny meetings each share of stock represente
rs in person or by proxy shall be entitle
d to one vote. At all elections of office
on and directors, two stockholders shall
ID. appointed tellers to receive and cou
=. the ballots, anG one stakeholder shall
,ad appointed Judge OF election 10 condu
ha tho same.
~ Sec. II. The directors may, at al
~. meeting caileu for the purpose, chan
.s the name of the corporation, and aft
,si certificate of such change, signed
"a - the president and secretary, has be-
~. filed in the office of the secretary
~ State at Dover, the new name desi
~" ,st mated in said certificate shall theme
nd forth be the name and style of this &C
la. poration.
oil Sec. II. This shall be deemed a
"a taken to be private act.
cts The House passed the House bill
: ; establish a workhouse in and for M
ers Castle county, by a vote of IA to
ee- The House passed the House b
authorizing the insurance commission
,au TO examine the affairs of all insuran
,ek companies chartered by the State wi
TO in a year, and to make examinatio
nf every three years thereafter.
;tle The Senate recently requested I
ast House to return to that body two bi
If in relation to the Newark Building a
ist Loan Association, but it appears as
itb the motions were Irregular, aud all r
ons erence to this action on the bills "
,ial expunged from the journals OF be
,or houses and ths Senate bill relncorpor
and ing the association was read twice
ises the House.
,ers The House passed the Senate bill
hes quiring the clerks of the peace TO set
Aid with the Stats Treasurer in Februa
out April, June. August, October a
on December, instead OF semi annually.
,em Representative Mccoy introduced
any hill in relation to the road comm
ses. siuners of New Castle county. 1t rel
mes as follows:
On Section l. That hereafter no peri
aid shall be eligible to election to the oil
,es of road commissioner of New Gas