JAMES THOMAS, ESQUIRE, GOVERNOR.

1833,

share of the capital stock standing in his, her or their

name on the books of said corporation; and the judges of

CHAP. 4.

Votes rated

elections shall be appointed in such manner as tje bye
laws shall provide, and until the first annual election of

Judges

directors shall be made; Josiah Bayly, James Pattison,
Thomas White, Thomas Hayward, James Dixon, William
B. Martin, Joseph E. Muse, Joseph Richardson, Jr. and
Brice J. Goldsborough, John A. Sangston, Jo. Richardson,
James Hooper, and John Barber, of John, shall be directors
of said corporation, and have full powers to act as such.

Present directors
named

Sec. 4. And be it enacted, That the President ahd Direc-
tors for the time being, or a majority of them, shall have
power to elect a president from their own body, to fill all
vacancies that may occur in the directory or presidency, to
appoint a treasurer, secretary and all such officers, clerks,
agents, mechanics, engineers, laborers and servants, as
they may deem necessary to conduct or execute the busi-
ness of said corporation, and fix their compensation, and
in their discretion to dismiss them; to take bonds for the
said corporation from all or any of the persons by them so
appointed, with security, conditioned in such form as they
shall approve, for the faithful execution of the duties of
such persons, and to secure the said corporation from loss;

powers of the Di-
rectors to choose
officers, &c.

to contract, agree for, and purchase, rent or hire, all such
lands, chattels, materials, rights, privileges ahd effects
whatever, and to make or repair and cause to be made and
repaired all such roads, wharves, boats, vessels, carriages,
and other conveniences as may be necessary for effecting
the objects of said corporation; and the same or any pari
thereof in their discretion to sell or otherwise dispose of ;
to call for monthly or other instalments of the capital stock
as they shall deem proper and necessary, giving ten days
previous notice in such newspapers as they shall see fit and
proper, to prescribe the form of certificates to be issued to
stockholders, and to regulate the mode of transferring
shares in the capital stock; to apply the funds of said cor-
poration so far as may be necessary to effect the objects
aforesaid, and in payment of the necessary expenses of the

company; to call general meetings of the stockholders
and generally to pass all such bye laws as may be neces-
sary for the exercise of the aforesaid .powers, or the powers
vested in the said corporation, and the same bye laws from

General powers

time to time to alter and repeal: Provided that all such
bye laws may be altered or repealed by a majority, in inter

2

Proviso