Any corporation formed in pursuance of this act, may erect and own a suitable edifice, buildings or hall, as to such corporation shall seem proper, with convenient rooms for the meetings of the fraternity of the Knights of the Ancient Essenic Order; and for that purpose may create a capital stock of not more than 50,000 dollars, to be divided into shares of not more than 25 dollars each; and any such corporation may take, purchase, hold and own such suitable lot or parcel of ground as may be convenient for the purpose of a cemetery, and may make all lawful rules and regulations for the disposition of the lots and the burial of the dead therein, as to such corporation may seem proper.