tion  to  capital  *  o  ?

stock.  shall  be  open  at  such  times  and  places  under  the

superintendence  of  the  president  and  directors
of  said  company  as  they  may  designate,  giving
at  least,  three  weeks  public  notice  thereof,  in
one  or  more  newspapers  published  in  said  terri-
tory or  state,  and  the  subscription  aforesaid  shall
continue  open  until  the  whole  number  of  shares
are  subscribed,  and  if  the  subscriptions  to  said
capital  stock,  shall,  within  six  days  after  the  same


are  opened,  exceed  the  amount  authorized  by
this  section,  it  shall  be  the  duty  of  the  directors
to  deduct  such  excess  in  a  proportional  manner
from  the  largest  number  of  shares  subscribed,  in
such  a  manner  that  each  person  subscribing
shall  be  entitled  to  at  least  five  shares  if  he  sub-
scribe so  many.
Sec.  22.  One  tenth  part  of  the   amount  of.,.,

*^  When  and  how-

each  share  shall  be  paid  to  the  said  president  instalments  to

.  be  paid.
and  directors  m  specie  at  the  time  of  subscrib-
ing, and  the  balance  shall  be  paid  in  such  instal-
ments and  at  such  time  as  the  directors  for  the
time  being  may  require :  Provided,  That  when-  Notice  to  be
ever  the  payment  of  any  instalment  is  required  ^*^®°'  ^^'
by  the  directors,  they  shall  give  at  least  sixty
days  notice  thereof,  in  a  newspaper  printed  in
this  territory  or  state,  but  no  one  instalment  shall
exceed  five  dollars  on  a  share :  Provided  farther.
