provided for, and such of them as shall be present
at their first meeting, shall proceed to organize the
company by electing a President and Secretary
thereof, and as soon thereafter as practicable adopt
a form of constitution and by-laws, to provide the
necessary books and otherwise prepare the com-
pany for the transaction of business, and when so
prepared to exercise a general supervision of the
Affairs of the company. And the Board of Direc-
tors above named, and any other Board of Directors
that may be hereafter elected as hereinafter pro-
vided for shall have authority to allow any officers
in the employ of the company such salaries, fees
or compensation as they may deem proper, and all
officers of the company (other than Directors) shall
fee appointed annually by such Directors as shall
be present at the first meeting of the Board after
the annual election of Directors; and in case of
any vacancy occuring in the Board of Directors at
any time, such vacancy shall be filled by the re-
mainder of the Board until the time of holding
the next annual election.

'

Sec. 6. And be it enacted, That it shall be the
duty of the President or Secretary of the said com-
pany annually to give notice of at least two weeks
by advertisement in the county papers or by suit-
able notices of the election, which shall be held on
the first Saturday in January in each and every
year, for thirteen Directors of the company, who
shall be members thereof; but in case such elec-
tion should, from any cause not be held on the same
day, the company shall not in consequence thereof
be dissolved, but such election may be held at such
subsequent time as may be selected by the Board
of Directors or a majority of them; at all such
elections .each member shall have one vote and may
vote either in person or by proxy.

Notice of elec-
tion to be giv-
en.

Sec. 7. And be it enacted, That the constitution
Md by-laws of the said company shall only be
made by the concurrent veto of at least two-thirds
of the whole Board of Directors exclusive of the.
President,, and any amendment or alteration of the
constitution and by-laws shall only be made by a
general meeting of the members of the company,
convened in pursuance of public notice given as
before directed, when each member present shall
90

Two-third
vote required.