ODEN BOWIE, ESQUIRE, GOVERNOR. 327

may remove from office the President, or any or all of the Directors, and elect others to serve in the stead of those removed. Sec. 9. And be it enacted, That in all proceed- ings of the President and Directors of said com-	Remove offi- cers.
pany, the President shall have one vote, and all questions shall be decided by a majority of votes; and the said President and Directors may appoint all and any such officer, engineers, agents or ser- vants whatsoever, as they may consider necessary for the transaction of the business and the accomp- lishment of the purposes of said company, and may dismiss or change the same at pleasure, and may	Decided by vote.
fix and determine by general regulations, or by special contract, the compensation of all such offi- cers and others, and may determine by their by- laws and regulations the manner of settling and adjusting all accounts of any of said officers against the said company; and also the manner and evi- dence of transfer of the stock of said company, and	Compensation
they shall have power to pass all by-laws and regulations which they may deem necessary for exercising the power vested in the company hereby incorporated, and from time to time to alter and amend the same at their pleasure; provided, that they shall not have power to pass any by-laws con- trary to the laws of the United States or of this State, or to the provisions of this Act. Sec. 10 And be it enacted, That if the entire stock of the said Company, provided for in the second section of this Act, be not subscribed be- fore the first election of President and Directors, as hereinbefore provided for, the President and Directors for the time being may from time to	By-laws,
time, at their discretion, open books for additional subscriptions to the Stock of said Company of as many shares of said Stock as they may deem ne- cessary, and announce their desire to have sub- scribed and may receive subscriptions for the same, or sell the same at a price not below their par	Open books.
value, after giving at least thirty days' notice of the opening of said books for subscription, or of their intention to sell said shares, as the case may be, provided, that the said President and Directors shall not increase the Capital Stock beyond said sum of six hundred thousand dollars.	Give thirty days notice.