. . .colateral security for debts, due to said Company or which may become the property of said Company by virtue of such indebtedness

Sec.[Section] 6. Said Corporation is authorised and empowered to make, endorse, issue, receive and transfer, promisory notes, Bills of exchange, conveyances of Land, to receive the hypothecation and pledges of the stock of other Companies or Corporations, and any other instruments in writing necessary to the safe transaction of their business, ^but shall be unlawful to issue Bank notes or Bills of Credit^

Sec. 7. All contracts, or other evidences of debt which may be made or entered into ^by^ this Corporation shall be subscribed by the president, and attested by the secretary and being so signed shall be binding on the Corporation and all conveyances made and entered into by said Corporation, conveying real estate, belonging to the said Corporation, when assigned and attested as aforesaid, shall in like manner be binding on said Corporation, according to the tenor effect, and true intent and meaning of the same.

Sec. 8. The President and ^Managers^ directors aforesaid, or a majority of them shall constitute a board, and may from time to time make and prescribe such bye laws, rules and regulations relative to the concerns of the said Corporation, not inconsistent with the Constitution and Laws of the United States, and of this State, as they may deem necessary for the management of the affairs of the concern. And for that purpose, they shall have power to appoint a Treasurer and request of him such bonds as they may deem proper

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and also to appoint a secretary and such other officers as the business of the Company may require.

Sec. 9. The Stock of said Corporation shall be deemed personal property, and assignable and transferable on the Books of the Corporation but said President and managers shall have the power to prevent any stockholder who shall be indebted to said Corporation, from transfering his Stock therein until he shall have paid said debt.

Sec 10. The Company shall at all times keep proper Books in which shall be registered all their transactions and the same shall, at all times, be subject to the inspection of the Stockholders; and it shall be the duty of the Directors to make dividends annually or at such other times as the President and managers shall determine, of so much of the profits of said company as to them shall appear advisable

Sec. 11. As soon as twenty five per cent of the Capital stock shall have been paid in the said Company shall be authorised to proceed to business, and not before.

Sec. 12 This act is hereby declared public and shall be in force from and after its passage and be and remain in force for thirty years