their successors in office, by the provisions of this bill, are declared to be perpetual.
Sect. 11. Said company have power to make, ordain, and establish all such by-laws, rules, and regulations as may be deemed expedient and necessary to fulfil the purposes and carry into effect the provisions of this act, and for the wellordering and securing the affairs and interests of said company: Provided, That the same be not repugnant to the constitution of the United States and the laws of this territory. This act, and all by-laws that may be adopted by the directors of said company, and all additions thereto and alterations thereof shall, from time to time, be printed in a convenient form, and be distributed among the stockholders of said company.
Sect. 12. The stock of said company shall be deemed personal estate, and shall be transferable in the manner and under such restrictions and conditions as may be provided by the by-laws of said company; and it is hereby further provided that twenty per cent of the original capital stock of said company shall be denominated unassessable stock, which said stock shall not be liable by any by-laws or rules and regulations of said company to be assessed for the construction, equipment, or management of said road, or in any manner taxed by said incorporation. The balance of said original stock, and all other stock created under the privileges of this charter by said company, shall be chargeable and liable to be assessed pro rata for the expenses incurred in the construction and equipment of said road.
Sect. 13. The following-named persons are hereby constituted a body corporate, according to the provisions of this act, to wit: Erastus Corning, R. N. Rice, W. B. Ogden, Elihu Washburn, J. N. Arnold, L. R. Kimball, W. W. Hamilton, James F. Joy, A. W. Hubbard, Isaac Pendleton, John H. Charles, George Jerome, R. B. Mason, Henry Hill, W. F. Shaffer, John J. Bagley, Enos Stutsman, M. K. Armstrong, Austin Cole, John McBride, Christopher Maloney, D. T. Bramble, John Stanage, Jacob Deuel, Lyman Burgess, Jacob A. Jacobson, J. Shaw Gregory, John L. Tiernon, John H. Shober, Reuben Wallace, George M. Pinney, James Tufts, Newton Edmunds, Lyman W. Gilbert, W. W. Brookings,
