Evening journal., 1897-05-25
RACE TRACK MEASURE
lcontihued From First Page.l

ates Its race-track mentioned in sec
tion 2 Of this act, and provided, fur
ther, that the provisions of section 3,
chapter 81, Of the Revised Statutes OF
the State OF Delaware OF A. d. 1852, as
amended and published in A. ID. 1893,
against horse-racing or betting there
on. ana chapter Al, volume 90 Laws
OF Delaware, or any or either OF them
shall not apply, and shall not be con
strued to apply to the races, trials orl
contests mentioned and enumerated In
section 2 of this act, nor TO any bets
or wagers mentioned or enumerated in
this section.
Section 4. The said corporation shall
select and submit at least one week be-
fore opening its said race track, to the
associate judge OF the State OF Della
ware. residing in New Castle county, a
list OF the names of at least twenty-five
sober and discreet men, residents OF
the State OF Delaware. from which list
said associate judge shall forthwith APP
pbint at least of the persons therein
named, who shall be special officers on
the premises OF said corporation, and
they shall maintain and preserve order
on and near the premises Of said cor
poratlon, said special officers shall have
power 10 arrest for breaches OF the
peace committed on or near said prem
ises in their presence without warrant
and may serve warrants, on or on said
premises. directed TO them by any JUS
tice OF the peace for any offenses com
mtted on said premises. And said cor
poration shall at all times keep at
least -- of said officers on duty on
their said premises, the said officers
shall be paid for their services by said
corporation. All persons arrested by
said officers for offenses committed IN
their presence without warrant shall
be taken before the nearest justice OF
the peace of the county for trial, who
shall forthwith proceed to hear and de-
termine the matter as in other like
cases as is now provided by law.
Section s. The capital stock of said
company shall consist OF 1000 shares OF
tho par value of $50 eacn, being $50, 900
with the privilege Of increasing the
same by vote OF the holders OF a ma
iority Of the stock present at any an
nuaior special meeting TO an amount not
exceeding $3.50 900, as they may from
time TO time deem needful.
Section 6. The cOrpOrators, or ma
1ority of them, named in the first sec
1ipn cOf this act, shall have power tC
open books for subscriptions to said
stock, at such times and places as they
may deem eXpedient, and when the said
1900 shares shall have been subscribed
for, and $4,000 Shall have been paid
IN (proyided, however that said pay
rnent OF $4,000 for said stock 50 sub.
sGrihed for may be made either whole
or In part by the conveyance OF real es
tato, or the transfer OF goods and chat
tells, or security for the payment o.
money, to said corporation, and If *
made shares OF stock issued in consid
eration thereof shall be as valid as 4
said shares had been paid for il
money!, then the shareholders shal
meet in Wilmington, adopt bylaws
and elect not less than five nor mor'
than nine directors, the number o
whom shall be fixed by the bylaws, Z,
serve until the next annual election o.
until their successors shall be dull
qualified and elected; every directo
shall be a stOckholder in the company
the directors so elected are hereby au
thorized and empowered in the nam,
and in behalf OF the company to exer
roise all rights and privileges which are
or intended to be. hereby given, subjec
only to such liabilities as other share
q. holders are subject to. which liabilitie
are, no more than for the payment o
delivery TO the corporation OF the con
sideratlOn remaining due on the share
OF stock subscribed for or held by then
respectively according to the terms 0
the subscription therefor All such in
pcreases OF the capital stock may be Il
the whole or in part either com
mon or preferred stock, as the corpor
alton may from time to time deter
mine; and the said corporation is here
by authorized and empowered TO issu
any, such increases of stock or any POI
tion thereof in payment OF any debt O
liability and in purchase OF any proT
erty, real or personal. and all stock S
issued shall be considered as full pai
and shall not be liable to any furthe
assessments or calls; and said corpora
ton may generally sell or dispose {
any portions OF said increases of stOc
on such terms.and conditions as IL ma
agree upon with any parties, or corpol
alton, or as il may find advisable in tf
doing Of any. act authorized by the pr
visions of this act. Each and all
said shares Of stock shall be person,
property and shall be transferable @
the book Of the corporation in sue
manner as the bylaws shall provide
and whenever any transfer of share
shaii be made for collateral. security, ,
conditionally. and not absolutely, Il
same shall be so expressed in the entl
Of such transfers.
Section q The principal office
said corporation shall be in the city
wilmington, but it may be subsequen
ly locatedt elsewhere in this state,
may be provided in the bylaws fro
time to time: provided, however, tn
said corporation may have and mail
tain offices elsewhere.
Section 8. The bylaws may
changed, altered and amended by ii
directors at any meeting duly call,
and held for the purpose by an affirm
tive majority vote of a majority
those attending, a quorum. as fixed
the bylaws, being present The loc
tion of the race track OF the corpor
ton may be changed by amendment
the bylaws to any place within Ne
Castle county. The bylaws shall all