which shall have been paid shall accrue to the benefit of said corporation.

SEC. 5. Be it further enacted by the authority aforesaid, That for the well ordering of the affairs of said corporation there shall be five Directors elected by the Stockholders of said company, under the superintendence of said Commissioners at Savannah, so soon as ten per cent. of the capital stock of said company shall have been received on account of subscriptions of said stock; of which thirty days' notice shall be given by the above-named Commissioners: and the persons duly chosen shall continue in office until the first Monday in February next ensuing the time of such election; and the same number of Directors shall be elected annually at the city of Savannah on the said first Monday in February in each and every year thereafter by the Stockholders; and the said Directors at their first meeting after such election shall choose one of their number as President, and in case of his death, resignation, or removal from the State or from the Board of Direction, the said Directors shall proceed to fill the vacancy by a new election for the remainder of the year: Provided, that in case it should happen at any time that an election of Directors should not be made at any day when pursuant to this act it ought to have been made, the said corporation shall not for that cause be deemed to be dissolved, but it shall and may be lawful to hold an election of Directors on any other day in such manner as shall have been regulated by the by-laws or ordinances of said corporation.

SEC. 6. Be it further enacted by the authority aforesaid, That the Directors for the time being shall have power to appoint such officers, clerks, and servants as they may deem necessary, and to allow them such compensation for their services respectively as they may deem reasonable.

SEC. 7. Be it further enacted by the authority aforesaid, That in the election for Directors each Stockholder shall be entitled to one vote for each share of the capital stock held by him or them; Provided, that no Stockholder shall be entitled to more than one hundred votes: that the Stockholders may vote by proxy; but no person but a Stockholder shall be eli gible as a Director.

SEC. 8. Be it further enacted by the authority aforesaid, That a majority of the Directors shall constitute a Board for the transaction of business, of whom the President shall be one, except in cases of sickness or necessary absence, in which

case his place may be supplied by any Director, to be elected President pro tem. by a majority of the Board present.

SEC. 9. Be it further enacted by the authority aforesaid, That the Treasurer of said company shall give bond and security to the satisfaction of the Directors, and for such amount as they may deem proper.

SEC. 10. Be it further enacted by the authority aforesaid, That the Directors shall have power to issue to the subscribers their certificates of stock, which shall be transferrable on the books of the Treasurer only by the personal entry of the Stockholder, or his legal representative or attorney, duly authorized by special power for that purpose.

SEC. 11. Be it further enacted by the authority aforesaid, That no contract or engagement whatever shall be binding upon the said corporation, unless the same shall be signed by the President, and countersigned by the Secretary of said corporation.

SEC. 12. Be it further enacted by the authority aforesaid, That dividends of the profits of the corporation, or so much as shall be deemed expedient, shall be declared and paid half yearly, the amount of such dividends to be determined from time to time by a majority of the Directors at a meeting to be held for that purpose, but shall in no case exceed the nett profits actually acquired by said corporation; so that the capital stock shall never be impaired.

SEC. 13. Be it further enacted by the authority aforesaid, That the Directors shall keep fair and regular entries of their proceedings, which shall be produced at any meeting of the Stockholders of said company, which meeting may be called at any time by the persons owning one-third of the capital stock of said company, giving sixty days' notice of the time and place of such meeting in one of the public gazettes of Savannah; and at any such meeting the persons owning a majority of the shares of the capital stock of said company may determine that the business of the said corporation shall be closed and its affairs wound up.

THOMAS GLASCOCK,

Speaker of the House of Representatives.

JACOB WOOD,

President of the Senate.

Assented to, 20th Dec. 1834.

WILSON LUMPKIN, Governor.

AN ACT to incorporate certain persons under the name and style of "The Richmond Factory."

Whereas, William Schley, Daniel Hook, Philip Thomas Schley, Daniel Hack, and George Schley, Jr. have formed themselves into a company by the name and style of "The Richmond Factory," for the purpose of manufacturing cotton and wool, and making the machinery necessary and proper for the manufacture of those articles; and whereas the said company have invested a large sum of money in prosecution of their design by purchasing a tract of land and water-power on Spirit creek, in the county of Richmond and State of Georgia, and the purchase of machinery which they now have in full operation; and whereas, for the more conveniently carrying on the operations of the said company, the said persons desire an act of incorporation

Be it therefore enacted by the Senate and House of Representatives of the State of Georgia in General Assembly met, and it is hereby enacted by the authority aforesaid, That the said William Schley, Daniel Hook, Philip Thomas Schley, Daniel Hack, and George Schley, Jr., and such persons as may hereafter become subscribers and stockholders in said company, and their successors and assigns, shall be, and they are hereby created and constituted a body politic and corporate, by the name and style of "The Richmond Factory," and by that name shall be, and they are hereby made able and capable in law to have, purchase, receive, possess, enjoy, and retain, to them and their successors and assigns, lands, rents, tenements, hereditaments, goods, chattels, and effects, of whatsoever kind, nature, or quality the same may be, and the same to sell, grant, demise, alien, and dispose of; to sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended, in any court of law or equity, or any other place whatsoever; and also to make and have a common seal, and the same to break, alter, or amend at their pleasure; and also to ordain, establish, and put in execution such by-laws, rules, and regulations as shall be necessary and proper for the government of said corporation, provided they be not repugnant to the laws and constitution of this State or the

United States; and generally to do and perform all and singular such acts, matters, and things as corporations may legally do and perform for the purpose of carrying into effect the objects of the association.

THOMAS GLASCOCK,

Speaker of the House of Representatives.

JACOB WOOD,

Assented to, 19th Dec. 1834.

President of the Senate.

WILSON LUMPKIN, Governor.

AN ACT to amend the fourth section of an act passed the 21st day of December, 1833, entitled "An Act to incorporate Franklin Factory in the county of Upson, and the Camak Manufacturing Company of Clark County," so far as to change the name of the latter to that of Princeton Factory.

Be it enacted by the Senate and House of Representatives of the State of Georgia in General Assembly met, and it is hereby enacted by the authority of the same, That from and immediately after the passage of this act the corporate name and style of the Camak Manufacturing Company of Clark County be changed to that of "Princeton Factory;" and that all the corporate rights and powers granted to the corporation under its former name by the act to which this is amendatory, be, and the same are hereby declared to continue, attach, and belong to the same under its aforesaid latter name.

SEC. 2. And be it further enacted by the authority aforesaid, That all laws and parts of laws militating against this act be, and the same are hereby repealed.

THOMAS GLASCOCK,

Speaker of the House of Representatives.

JACOB WOOD,

President of the Senate.

Assented to, 22d Dec. 1834.

WILSON LUMPKIN, Governor.

AN ACT to incorporate the Skull-shoals Manufacturing Company in the county of Greene.

Be it enacted by the Senate and House of Representatives of the State of Georgia in General Assembly met, and it is hereby enacted by the authority of the same, That Thomas N. Paullain, Stephens Thomas, Thomas Wray, Ephraim S. Hopping, and Albert G. Wray, with all such persons as may hereafter become interested in said company, be, and they are hereby incorporated and made a body politic, by the name and style of the "Skull-shoals Manufacturing Company;" and by that name shall be, and are hereby made able and capable in law to have, purchase, and receive, and retain, to them and their successors, lands, rents, tenements, goods, chattels, and effects of what kind soever, and the same to sell and dispose of; to sue and be sued, plead and be impleaded, answer and be answered, defend and be defended, in courts of record or any other place whatsoever, and to make, have, and use a common seal, and the same to alter at pleasure; the said company may also make such by-laws as they may deem necessary for their interest, provided they are not repugnant to the Constitution or laws of this State; and to select and appoint all such agents, officers, or