Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-02-26

buch other regulations respecting the
preference to be given to such
stock over the other stock in relation
to future dividends or other
wise. as the stockholders may deem
proper, Or as may be named In the
agreement of Incorporation. Provided,
that the maximum capital OF the cor
poration shall not be exceeded, and
that if the issue he made under au-
thority of a resolution or bylaw, no.
tice shall be first published at least
once a week for TWO weeks successive
" in some newspaper of general circu-
lation published in the county wherein
the principal Office or place of bust
ness of the corporation may be, of the
intention to offer such resolution or
bylaw, or, If the principal Office or
place of business of such corporation
be not in this State, then such notice
may be published at the capital of the
State.
That section eighteen of chapter fif-
ty-three of the Code be and the same
Is hereby amended and re-enacted so as
to read as follows:
share Held by Corporation.
10. IL IHS OiDO dtlOh 1S4oAi Az %
of its own stock. it may either ex-
tinguish or sell the same. If extin-
guished, it shall operate to that extent
as reduction of the amount of its cap
ital stock. No vote shall he given on
any stock while owned by the corpora
ton, nor shall any stock while so held
be entitled to any dividend.
That section twenty-one of chapter
ffty-three Of the Code We and the same
is hereby amended and re-eneacted Sc
as to read as follows:
81. A transfer book shall be kept
by the corporation or by n or nor
transfer agents appointed by it, in
which the shares shall DE transferred
under such regulations as may be pre-
scribed by the Bylaws or vote of the
Board of Directors. Such transfer books
may be closed by order of the direc-
tors for not exceeding thirty days next
preceding any stockholders meet
ing.
That section twenty-four of chapter
fffty-three of the Code be and the same
is hereby amended and re-enacted so
as to read as follows:
"a. In no case shall stock be sold
or disposed of at less than par, ex-
cept by a vote of three-fourths of all
the stock of the corporation outstand-
ing at the time the vote is taken, and
not then until notice of the intention
to present a resolution or motion au-
thorizing the sale of stock below par
at a stockholders meeting. shall first
be published for at least two successive
weeks in some newspaper of general
circulation published in the county
wherein the principal Office of such
corporation may be, or if such princi-
pal Office fbe not in this State, then in
some newspaper of general circulation
published at the capital of the State.
But nothing herein contained shall be
so construed as to prevent any mining
or manufacturing corporation subject
to the provisions of this chapter, from
issuing stock or bonds, and negotiat-
ing the sale Of same, in payment of
real and personal estate for the use
of such corporation, and for its other
corporate purposes and business, at
such price and upon such terms and
conditions as, may be agreed upon by
the wne and the directors or stock
holders of such corporation. And any
subscriber to the capital stock of any
such mining or manufacturing corpora
tion may pay for the same by transfer
and conveyance to such corporation
of real or personal property, or both,
proper or necessary for the uses and
purposes of the corporation, upon such
terms as may be mutually agreed upon.
All stock so issued shall be fully paid
and not liable to any further call for
assessment, and in absence of actual
fraud in the transaction, the valuation
of the property so purchased, shall be
conclusive; but it shall he the duty of
the corporation to have its minutes
or other permanent records to show
with reasonable detail the items of
the property in payment for which
stock or bonds were so issued. Moth
ing in this section shall he construed
as conflicting with section siXty-eight
of chapter fifty-four of the Code.
That section thirty-five of chapter
t~1fty-three of the Code be and the
same is hereby amended and re-enact-
ed so as to read as follows:
35. The Board of Directors of any
company having capitai stock shall
cause to be issued if demanded, to any
person appearing on the books of the
corporation to be lne owner of any
shares of its stock, a certificate there
for, under the corporate seal. to be
signed by the president, or vice presi-
dent. and such other officer, if any,
as the board may direct; which certif-
cate shall show the amount paid on
each share.
That section forIy-one of chapter
f~ifty-three of the Code be and the same
is hereby amended and re-enacted so
as to read as follows:
nnHmI Meetings.
2 Al. An annual meeting of the stock
Ss&cEsI