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ODEN BOWIE, ESQUIRE, GOVERNOR. 389
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Sec. 8. And be it enacted, That at the annual
meetings of the stockholders, the President and
Directors in office for the preceding years shall
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exhibit to the stockholders a clear and distinct
statement of the affairs of said Company; that at
any called meetings of the stockholders, (a major-
ity in value being present,) a majority in value of
those present may require a similar statement from
the President and Directors, whose duty it shall
he to furnish it when thus required, and at all
general meetings of the stockholders, a majority
in value of all the stockholders of said Company
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Annual state-
ment.
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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-
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
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Majority may
remove officers
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all and any such officer, engineers, agents or ser-
vants whatsoever, as they may consider necessary
for the transaction of the business and the accom-
plishment of the purposes of said Company, and
may dismiss or change the same at pleasure, and
may fix and determine, by general regulations or
by special contract, the compensation of all such
officers 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
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Appoint offi-
cers.
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and evidence of transfer of the stock of said Com-
pany, and they shall have power to pass all by-
laws and regulations which they may deem neces-
sary for exercising the power vested in the Com-
pany 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 contrary 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, he not subscribed be-
fore the first election of President and Directors,
as hereinbefore provided for, the President and
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Transfer stock
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