OF CORPORATIONS. by the president or vice president, and countersigned by the, secretary, and generally to do all such other acts, matters and things as by this act and by the by-laws and regulations of the company, they are authorized to do. directors stock certifi Transfer of SECTION 7. And be it further enacted, That the president President and directors just chosen, shall procure certificates or evidence and of stock, for all the shares of said company, and shall deliver shall furnish one such certificate signed by the president, and counter-cates to signed by the treasurer, and sealed with the common seal of subscribers. the said company, to each person, for all the shares by him subscribed and held, which certificate or evidence of stock shall be transferable at his pleasure in person or by attorney, certificates. duly authorized in the presence of the president or treasurer, each of whom shall keep a book for that purpose, (subject however to all payments due or to become due thereon) and the assignee holding any certificate having first caused the assign- Rights and ment to be entered in a book of the company to be kept for transferee. the transfer of stock, shall be a member of the said corporation, and for every certificate assigned to him as aforesaid, shall be entitled to such share or shares of the capitol stock represented by said certificate, and to ali estates and emoluments of the company incident to such share or shares, and to vote as aforesaid at the meetings thereof, and subject to all penalties and forfeitures, and to being sued for all the balance and penalty due or to become due on such share or shares, as the original subscriber would have been. liabilities of neglect to ments of per. cent a ditional to SECTION 8. And be it further enacted, That if, after thirty In case of days' notice as aforesaid of the time and place appointed for pay installthe payment of any proportion or installment of the said cap-stock, one ital stock, in order to carry on the work, any stockholder half of one shall neglect to pay such proportion or installment at the month adplace appointed, for the space of thirty days after the time be paid. appointed, every such stockholder or his or her assignee, shall, in addition to the installment so called for, pay at the rate of one-half of one per cent. per month for the delay of such payment; and if the same and the additional penalty shall remain Forfeiture unpaid for such space of time that the accumulated penalty sum paid on shall become equal to the sum before paid in part and on ac- shares of count of such shares, the same shall be forfeited to the said stock: when. company and be sold to any person or persons willing to purchase for such price as can be obtained for the same, or in default of payment by any stockholder of any such installment as aforesaid, the president and directors, at their election, shall when sue and recover the same before any justice of the peace, or in installment any court having competent jurisdiction of the same, together sued for. and sale of account of may be Proviso. in arrears not to vote. * OF CORPORATIONS. with the penalty aforesaid; Provided, that no stockholder, Stockholder whether original subscriber or assignee, shall be entitled to vote a general or special meetings of the said company on whose share or shares any installment or arrearages may be due and payable more than thirty days previously to the said election or meeting. Bond of treasurer and others. Dividends. 4 SECTION 9. And be it further enacted, That the President and Directors of the said Company shall demand and require of, and from, the said treasurer, and all and every other the officers and other persons by them employed, bond in sufficient penalties, and with such sureties as they shall, by their by-laws, rules and regulations, require for the faithful performance of the several duties and trusts to them or any of them respectively committed. SECTION 10. And be it further enacted, That dividends of so much of the profits of the company as shall appear advisable to the directors, shall be declared, at least, once a year, and paid to the stockholders on demand at any time after the Restrictions. expiration of ten days therefrom, but they shall in no case exceed the amount of the net profits actually acquired by the company, so that the capital stock shall never be thereby Liability of impaired. If the said directors shall make any dividends. which shall impair the capital stock of said company, the directors consenting thereto shall be liable in their individual capital stock. Capacities to said company for the amount of the stock so di directors making dividends impairing Directors to furnish statement at annual meeting. Special meetings. divided, and each director present when such dividend shall be SECTION II. And be it further enacted, That at such annual meeting of the stockholders, the directors of the preceding year shall exhibit to them a complete statement of the affairs and proceedings of the company for each year; and that special meetings of the stockholders may be called by order of How called. the directors, or by stockholders holding one-third in amount of the capital stock, on like notice as that required for annual meetings, specifying, moreover, the object of the meeting, but No business. no business shall be transacted at such special meeting unless a majority, in value, of the stockholders shall attend in person or by proxy. Notice. When. Admission fees to exhibition grounds. SECTION 12. And be it further enacted, That on the completion of grounds of exhibition and buildings necessary thereto, *So enrolled. OF CORPORATIONS. it shall and may be lawful, for the said company to demand and receive such sum or sums of money for admission thereto, as they, from time to time, think reasonable and proper. Penalty for company. SECTION 13. And be it further enacted, That if any per- Pery vo son or persons, shall willfully and knowingly injure or de- property of stroy any property purchased or owned in pursuance of this act, he, she, or they, shall forfeit and pay to the said company, three times the actual damages so sustained, to be sued for Suit for. and recovered, with costs of suit, before any justice of the peace, or in any court having cognizance thereof, by action of debt or on the case, in the name and for the use of said company. SECTION. 14, And be it further enacted, That the capital Capital stock of the said corporation shall not exceed the sum of twenty thousand dollars, which shall be divided into shares of Shares. five dollars each. The said company shall have power, from time to time, to borrow money for the uses and purposes of the cor- money on poration, and to execute mortgages on all their estate, real mortgage, and personal, and to issue bonds to secure the payment of the same; Provided, that the amount so borrowed shall not ex- Proviso. ceed, in the aggregate, the sum of twenty thousand dollars. stock. May borrow chase real SECTION 15. And be it further enacted, That the said com- May purpany shall have full power to purchase and hold all real estate estate, &c. necessary for the purposes of said company, to buy and build houses and shops for corporate purposes. SECTION 16. And be it further enacted, That this act shall Public act. be a public act, and the power to revoke this charter for the abuse or misuse of the privileges hereby granted, upon the lawful conviction thereof, and to alter or amend this act, is Reservation. hereby reserved to the legislature. Passed at Dover, March 3, 1875. OF CORPORATIONS. CHAPTER 128. CORPORATIONS. Corporators. tion. Name. powers. AN ACT to incorporate the Trustees of the "Riddle Fund" for the benefit of the superannuated preachers of the Wilmington Annual Conference of the Methodist Episcopal Church. SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, That John France, L. C. Matlack, John D. Curtis, Edward Moore and John S. Miller, trustees appointed by the Wilmington annual conference of the Methodist Episcopal Church, for the purpose of receiving from the executors of James Riddle, deceased, the moneys devised by said James Riddle "for the benefit of the worn out preachers of the Wilmington Annual Conference of the Methodist Episcopal church," and their successors in office, to be hereafter elected in conformity with the rules and regulations establisbed by the Wilmington Annual Conference, aforesaid, are hereby created and declared to be a Incorpora- body politic and incorporate under the name of "Trustees of the Riddle Fund for the benefit of the superannuated preachers of the Wilmington Annual Conference of the Methodist Corporate Episcopal Church," and by that name shall have continuance and succession for twenty years; and are hereby empowered to receive from the executors of James Riddle, aforesaid, deceased, all sums of money devised by said James Riddle for the benefit of the worn out preachers of the Wilmington Annual Conference of the Methodist Episcopal church, and they are hereby directed to invest said moneys, when received by them, in good bonds and mortgages, or in bonds of the United States, or the State* Delaware, and change investments from time to time, as they may deem expedient, and collect. the interest and dividends on said investment or investments, and distrib- as the same becomes due and payable, and distribute said interest or dividends, annually, in conformity with the rules and regulations established by "The Wilmington Annual Conference of the Methodist Episcopal church," for the benefit of the superannuated preachers of said annual conference, with power to sue and be sued, to plead and be impleaded in any court of law or equity in this State, to have and to use a corporate seal, and to do and perform all other acts necessary to carry into effect the legitimate business of the corporation hereby created. To receive certain moneys and invest same, &c. To collect ute the interest and dividends on same. * So enrolled. OF CORPORATIONS. SECTION 2. And be it further enacted, That this act shall Public act. be deemed and taken to be a public act. Passed at Dover, March 3, 1875. CHAPTER 129. CORPORATIONS. AN ACT to incorporate the Bridgeville Cemetery Company of Bridgeville, Delaware. name. Powers. Restrictions. SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware (with the concurrence of two-thirds of each branch of the Legislature,) That Daniel F. Ball, David S. Myer, Simeon Penniwill, John Ray. Isaac B. Corporators. Cottrell, Mark A. G. Coates, William T. Sudler, Richard W. Cannon and Henry P. Cannon and their successors, be and Incorporathey are hereby constituted a corporation by the name of the tion. Bridgeville Cemetery company of Bridgeville Delaware, with Corporate capacity and power to take and hold by contract, devise, bequest, gift, assignment or purchase of lands, goods and property, to aliene, transfer, use or dispose of the same, sue and be sued, have a common seal, make by-laws, and with all other franchises incident to a corporation, subject to the following restrictions, viz: The said corporation shall not have nor exercise any banking powers, nor hold property, real and personal of a greater amount than five thousand dollars over and above the lands aforesaid, and the buildings, fixtures and burial lots in said cemetery and belonging to the same. The estate Estate of of the lot holders, respectfully,* or of the persons who may qualified become lot holders, shall be of qualified inheritance, but it shall inheritance. not be levied upon nor taken by execution by any process of, law or equity, and it shall not be aliened or devised so as to execution. vest any right in the alienee or devisee without the approval Alienation. of two-thirds of the board of management of the said corporation, and the lots or burial places in the said cemetery shall be held subject to the by-laws and regulations of the same. SECTION 2. That certificates of burial lots, according to a *So enrolled. lot holders a Exempt from |