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1S71-'72.—Chapter 130. 175
four directors far said company, whose term of office shall President and
1 •> ' Directors
be tor one year, and until others are chosen. In the elcc- Term of officers,
tion of president and directors, and in enacting such laws as
may be necessary, the stockholders may he entitled to vote
as follows, viz: one vote for each share owned not exceeding ^ ^1
1
1
°
e
1
^
cr YOte
rive ; one vote for every two shares above live and not
above ten ; one vote for every lour shares above ten and not
above twenty ; one vote for every ten shares above twenty
and not above fifty; one vote lor every fifty shares above
fifty and not above five hundred ; and one additional vote
for every one hundred shares above live hundred ; no trac-tion
shall be counted making less than half a vote.
Sec. 4. That it shall be the duty of said stockholders at Manner and time
\ ot payment.
their first general meeting to prescribe the manner and time
in which payment of stock on the subscription books shall
be made.
Sec. 5. That it shall be the duty of the president and Treasurer.
directors ol said company to appoint a treasurer, who shall
remain in office such a length of time as the company in
their bv-laws shall determine: the president and directors President and
"
i -.. •
-i
Directors have
shall have a general direction and management of the affairs general manage-of
said company, and shall appoint some suitable person as
engineer, whose duty it shall be to make the necessary Engineer ap-
• pointed.
surveys lor the location of said railroad, and furnish the
president and directors with reports of said surveys and
estimates of cost ; said directors shall have power to fill any Vacancies filled.
vacancy that may occur in their board until their next meet-ing,
and in the absence of the president may elect one for
the time ; they shall also appoint a secretary, whose duty it Secretary ap-
' J ' l " ' J poiuted.
shall be to keep a fair and correct record of the proceedings
ol eaid board and all ol the proceedings ol the stockholders
in general meetings, in a book to be provided lor that
purpose.
Sec. 6. That the president or board of directors shall at Annual report.
least once a year make a full report on the state ot the com-pany
and its affairs to a general meeting of the stockholders,
and oftener if required by any by-law of the company, and
also call a general meeting of the stockholders whenever
Object Description
Description
| Title | Page 223 |
| Full Text | 1S71-'72.—Chapter 130. 175 four directors far said company, whose term of office shall President and 1 •> ' Directors be tor one year, and until others are chosen. In the elcc- Term of officers, tion of president and directors, and in enacting such laws as may be necessary, the stockholders may he entitled to vote as follows, viz: one vote for each share owned not exceeding ^ ^1 1 1 ° e 1 ^ cr YOte rive ; one vote for every two shares above live and not above ten ; one vote for every lour shares above ten and not above twenty ; one vote for every ten shares above twenty and not above fifty; one vote lor every fifty shares above fifty and not above five hundred ; and one additional vote for every one hundred shares above live hundred ; no trac-tion shall be counted making less than half a vote. Sec. 4. That it shall be the duty of said stockholders at Manner and time \ ot payment. their first general meeting to prescribe the manner and time in which payment of stock on the subscription books shall be made. Sec. 5. That it shall be the duty of the president and Treasurer. directors ol said company to appoint a treasurer, who shall remain in office such a length of time as the company in their bv-laws shall determine: the president and directors President and " i -.. • -i Directors have shall have a general direction and management of the affairs general manage-of said company, and shall appoint some suitable person as engineer, whose duty it shall be to make the necessary Engineer ap- • pointed. surveys lor the location of said railroad, and furnish the president and directors with reports of said surveys and estimates of cost ; said directors shall have power to fill any Vacancies filled. vacancy that may occur in their board until their next meet-ing, and in the absence of the president may elect one for the time ; they shall also appoint a secretary, whose duty it Secretary ap- ' J ' l " ' J poiuted. shall be to keep a fair and correct record of the proceedings ol eaid board and all ol the proceedings ol the stockholders in general meetings, in a book to be provided lor that purpose. Sec. 6. That the president or board of directors shall at Annual report. least once a year make a full report on the state ot the com-pany and its affairs to a general meeting of the stockholders, and oftener if required by any by-law of the company, and also call a general meeting of the stockholders whenever |
