ROYAL GAZETTE 
     
    
   
   
    
     W; 
     
    
   
   
    
     whatsoever, 
     
    
   
   
    
     in all manner of actions, suits, com-l 
     
    
   
   
    
     47|3 
     
    
   
   
    
       
     
    
   
   
    
     ed; and the Directors when chosen shall, at their 
     
    
   
   
    
     Plaints, demandS, pleas, causes and matters whatso- s first [Heeling after their Gleam": Choose 0‘" Grille” 
     
    
   
   
    
     ever, in as full and ample a manner as any other 
     
     person or persons are in law capable of stung and 
     
     being sued, pleading and being impleaded, answer- 
     
     ing and of being answered unto, and also that they 
     
     shall have one common seal, to serve for the enseal— 
     
     ing all and singular their grants, deeds, conveyances, 
     
     contracts, bonds, articles of agreement, assignments, 
     
     powers and warrants ol'attoruey, and all and singu- 
     
     lar their affairs and things touching and concerning 
     
     the said corporation, and shall at all times have full 
     
     poWer, authority and license to constitute, make, 
     
     ordain and establish such by-laws and ordinances as 
     
     .tnay be thought necessary for the good rule and 
     
     govm'nmeut of the said Corporation; provided that 
     
     such by-laws and ordinances be not contradictory 
     
     or repugnant to the laws or statutes ofthis Island. 
     
    
   
   
    
     II. The Capital Stock of the said Corporation 
     
     shall consist of ten thousand pounds, divided into one 
     
     thousand shares of ten pounds each. 
     
    
   
   
    
     III. The said Corporation shall have full power 
     
     and authority to take, receive, hold, possess and 
     
     enjoy, in fee simple or otherwise, any lands, tene— 
     
     ments, real estate and rents to any amount not ex- 
     
     ceeding in value the sum of Four thousand pounds; 
     
     and the said Corporation shall have full power to 
     
     sell, lease, morttratre or otherwise dispose of the 
     
    
   
   
    
     D D ’ 
     
     said property and estate as it may deem proper. 
     
    
   
   
    
     IV. Whenever two hundred and fifty shares ofthe 
     
     said Capital Stock shall have been subscribed, a 
     
     general meeting ofthe shareholders of the said Com- 
     
     pany, or the major part of them, shall take place by 
     
     notice in two newspapers published in Charlottetown, 
     
     fourteen days previous to such meeting, for the pur- 
     
     pose of making, ordaining and establishing such 
     
     by-laws, rules and regulations for the good manage- 
     
     ment of the affairs of the said Corporation as the 
     
     members tlicreofshall deem necessary; and also for 
     
     the purpose of choosing sevcn Directors, being mem- 
     
     bers ofthe said Company, and holding not less than 
     
     five shares in the Capital Stock of the said Corpor- 
     
     ation, which Directors so chosen shall serve until 
     
     the first annual meeting of the said Company, and 
     
     shall have full powm' and authority to manage the 
     
     affairs ofthe said Corporation, and shall commence 
     
     the operations of the said Factory, subject, never- 
     
     theless, to the rules and by—laws ofthe said Com- 
     
     pay, and to the regulations hereinafter made and 
     
     provided; at which general meeting also the mem- 
     
     bers or shareholders ofthe said Corporation, or the 
     
     major part of them, shall determine the amount of 
     
     the first call or instalment to be paid on each share, 
     
     of which call due notice shall be given by the Direc- 
     
     tors as hereinafter provided. 
     
    
   
   
    
     V. fi‘here shall be a general meeting of the mem- 
     
     bers and stockholders of the said Corporation to he 
     
     annually holden on the last "Tuesday in January in 
     
     each and every year, at Charlottetown, at which 
     
     annual meeting there shall be chosen, by a majority 
     
     ofthe said members and stockholders, seven Direc- 
     
     tors, who shall continue in office for one year, or 
     
     until others are chosen in their room; in the choice 
     
     of which Directors, the members and stockholders 
     
     shall vote according to the rules hereinafter mention- 
     
    
   
   
    
       
     
    
   
   
    
     number a President. 
     
    
   
   
    
     VI. Not less than four Directors shall constitute 
     
     a Board for the transaction of business, of which the 
     
     President shall always be one, except in case of 
     
     sickness or necessary absence, in which case the 
     
     Directors present may choose one oftheir Board, as 
     
     Chairman, in his stead; the President, or Chairman 
     
     appointed in his absence, shall vote at the Board as 
     
     a Director; and in case oftheir being an equal num- 
     
     ber of votes, for or against any question before the 
     
     Board, the President or Chairman shall have a 
     
     casting vote. 
     
    
   
   
    
     VII. The Directors for the time being shall have 
     
     power to appoint such officers, clerks and servants 
     
     as they, or the major part ofthem, shall think neces- 
     
     sary for executing the business of the said Corpor- 
     
     ation, and shall allow them such compensation for 
     
     their respective services as to them shall appear 
     
     reasonable; all of which, together with the expense 
     
     ofbuildings, house rent and all other contingencies, 
     
     shall be defrayed out of the funds ofthe Corporation; 
     
     and the said Directors shall likewise exercise such 
     
     other powers for the well regulating the affairs of 
     
     the said Corporation as shall be prescribed by the 
     
     by-laws and rules ofthe same. 
     
    
   
   
    
     VIII. Every Secretary, Treasurer, Clerk or other 
     
     officer of the said Corporation having charge of 
     
     money transactions, before he enters upon the duties 
     
     of his office, shall give bonds, with two or more 
     
     securities to be approved of by the Directors, in 
     
     such sums as the Directors shall deem adequate to 
     
     the trusts respectively reposed in them. 
     
    
   
   
    
     IX. The number of votes which each member and 
     
     stockholder shall be entitled to on every occasion, 
     
     when in conformity to the provisions of this Act the 
     
     Votes of the same are to be given, shall be in the 
     
     following proportion, that is to say, for one share 
     
     one vote, for five shares two votes, for ten shares 
     
     three votes, and for twenty, or a greater number of 
     
     shares, four votes and no more. a 
     
    
   
   
    
     X. All stockholders and members of the said Cor- 
     
     poration may vote by proxy, provided that such 
     
     proxy be a member and do produce sufficient autho- 
     
     rity in writing according to the by-laws and rules of 
     
     said Company, and that such member do not hold 
     
     more than three proxies. " 
     
    
   
   
    
     XI. The Directors may and they are hereby 
     
     authorized to fill up any vacancy that shall be oc— 
     
     casioned in the Board by the death, resignation, or 
     
     absence from the Island tor four months, of any of 
     
     its members; but that in the case ofthe removal of a 
     
     a Director by the members ofthe said Company for 
     
     misconduct or maladministration, his place shall be 
     
     filled up by the said members of the said Company, 
     
     and the person so chosen by the Directors, or the 
     
     members of the said Company, shall serve until the 
     
     next succeeding annual meeting ofthc members and 
     
     stockholders. 
     
    
   
   
    
     XII. Before any Shareholder shall be required to 
     
     make payment of any instalment or call upon the 
     
     amount of his subscription, thirty days previous 
     
     notice shall be given by the Directors in two of the 
     
     newspapers published in Charlottetown, of the time 
     
     and place of paymegt. 
     
    
   
   
    
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