ODEN BOWIE, ESQUIRE, GOVERNOR. 427

scriptions and to receive money payable thereon; may call a meeting of the subscribers at such time and place and with such notice as they shall deem
proper, after the minimum amount of capital aforesaid shall be subscribed, and may do all such other lawful acts as shall be proper to constitute and organize said Corporation until the first Board of Directors, hereinafter provided for, shall be duly elected, including the power in person, or through persons appointed by them, to superin- tend, conduct, scrutinize and certify to that elec- tion.	Minimum cap- ital.
Sec. 4. And be it enacted, That the said Corpora- tion shall have all the powers, qualities, faculties, rights and privileges which lawfully belong to Corporations generally, including perpetual suc- cession, the right to have and use a common seal, and to change the same at pleasure; the power to purchase, receive, acquire, hold, sell, lease, dis- pose of and manage estates, real, personal or mixed; the right to sue and be sued, and to trans- act its business in the said corporate name; the power to appoint officers, agents, engineers and servants, and to make contracts, and the power to make all by-laws, rules and regulations which	Powers.
may be deemed expedient and not contrary to law, but not including any banking privileges. Sec. 5. And be it enacted, That at the meeting of subscribers to be called as aforesaid, or at any meeting held by adjournment thereof from time	Not to issue.
to time, there shall be an election of Directors, and from the time of such election the said Cor- poration shall be deemed to be completely orga- nized and constituted, with all the faculties, rights and privileges hereby granted. Sec. 6. And be it enacted, That there shall not be less than hve or more than twelve Directors of said corporation, who shall be a Board to transact and manage all the affairs of the corporation and exercise all its powers, subject to the control of the stockholders in general meetings; a majority of	Elect Direct'rs
the Board shall form a quorum; they may 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	Quorum.