THOMAS SWANN, ESQUIRE, GOVERNOR. 393

eluding perpetual succession, the right to have and use a common seal, and to change the same at pleasure, the power to purchase, receive, ac- quire, hold, sell, lease, disposs of and manage estates, real, personal or mixed, the right to sue and be sued, and to transact its business in the said corporate name, the power to appoint officers, agents, engineers and servants, the power to make contracts and the power to make all by-laws, rules and regulations which may be deemed expe- dient and not contrary to law, but not including any banking privileges.
Sec. 6. And be it enacted, That there shall be seven Directors of said corporation, who shall be a Board to transact and manage all the affairs of the corporation, and exercise all its powers, sub- ject to the control of the stockholders in general meeting ; a majority of the Board shall be a quorum, they rnay fill vacancies occurring in their own body, they shall be elected annually by the stockholders in general meeting, and shall hold their offices for one year and until their successors shall be elected, they shall be stockholders of the corporation, they shall be elected under regula- tions and supervision, as the Board of Directors or the stockholders shall prescribe after the first election.	Directors.
Sec. 7. And be it enacted, That the Board of Directors shall elect one of their own number as President of the corporation, and his term of office shall be the same as their own, and he shall exer- cise such powers as the Board or the stockholders shall prescribe.	President.
Sec. 8. And be it enacted, That a general meeting of the stockholders shall be held annually at such time and place as the by-laws shall pre- scribe, and a general meeting may also be called at any time and place by the Board of Directors, at least two weeks notice thereof being given by adver- tisement in one or more newspapers published in this State ; in all elections and in the decision of all questions, each stockholder shall be entitled to one vote for every share of stock held by him or her ; a number of stockholders holding a majority of the shares subscribed, and being present in person or represented by proxy, shall be a quorum of a	General meet- ing.