7. It shall be lawful for the Lieutenant
Governor or Administrator of the government for the time being, to have
and enjoy at all reasonable and proper times, and in preference to all
others whomsoever, the right and privilege of using the said line of
Electric Telegraph and branches for the transmission of messages relating
to the public service only, whether Imperial or Provincial, from or
to any stations with which the said line or any of its branches shall
connect, and the rate of changes therefore shall not in any one case
or at any one time exceed the ordinary rates of charges made to private
individuals and others for the transmission of like messages; provided
always, that such messages are strictly and solely of a public nature.
8. When and so soon as one half of the
shares of the said capital stock shall have been subscribed for the
said capital stock shall have been subscribed for, a meeting of the
stockholders shall and may be called by any three of the corporators
herein before named and such meetings
shall be held at Chatham, in the County of Northumberland, after ten
days notice in the Gleaner Newspaper published at Miramichi; and at
such meeting, or some adjournment thereof, a President shall be chosen
from among the stockholders, and six Directors shall be chosen for the
current year, of which three shall be resident in the County of Northumberland
and three in the County of Kent; and at such meeting, or some adjournment
thereof, to make by laws, rules, and ordinances for prescribing the
duties, and authorities of the said President, Directors, and officers
of the said Company, and for regulating the transfer, registry, and
forfeiture of shares, the right of voting in respect of the number of
shares help by each shareholder respectively, and for voting either
personally or by proxy, and generally for the good order, and government
of the said Company, its affairs and business, as may be requisite and
necessary.
9. The annual meeting of the said Company
shall take place on the first Tuesday in January in each year, and shall
be held alternately in Chatham and Richibucto; the first annual meeting
to be held at Richibucto on the first Tuesday in January next.
10. The joint stock and property of
the said Corporation shall along be responsible for the debts and engagements
of the said Company.