scribed, if within five years from the passage of
this Act, the said Commissioners, or a majority of
them, shall give thirty days previous notice of
the time and place of holding an election for
President and fifteen Directors of said company,
and that in said election the subscribers may vote
in person or by proxy, according to the number of
the shares held, and the said Commissioners, or
three or more of them, shall be judges of the first
election of Directors, and any subscriber shall be
eligible as President or Director, and the said
Commissioners shall deliver over the original sub-
scriptions to the President and Directors imme-
diately after their election.

Succession of
Directors.

Sec. 6. And be it enacted, That to continue
the succession of the President and Directors of
the said company, fifteen Directors shall be cho-
sen annually, after notice aforesaid, on the first
Monday in January of every year, by the stock-
holders of said company, and the Directors, or a
majority of them, shall have the power to appoint
judges of elections, and elect a President of said
company from among the Directors, and allow
him such compensation for his services as they
may deem proper, and if any vacancy shall occur
from death, resignation or refusal to act of the
President or any of the Directors of said company,
the President and Directors, or a majority of
them, shall elect some person or persons to serve
until the next annual election, and the said Pres-
ident and Directors of the company shall hold and
exercise their office until a new election of Presi-
dent and Directors, and that all elections that are
made by this Act or by the laws of said company,
to be made on a particular day; if not made on
such day, may at any time be legally made within
sixty days thereafter, after notice aforesaid.

Notice of
meeting.

Sec. 7. And be it enacted, That a general meeting
of the stockholders may be called at any time upon
giving thirty days previous notice in the manner
described in section three.

Powers of Di-
recton.

Sec. 8. And be it enacted. That the said Presi-
dent and Directors, or a majority of them, may
appoint all such officers, superintendents, agents or
servants whatsoever as they may deem prudent for
the transaction of the business of said company,