THOMAS SWANN, ESQUIRE, GOVERNOR.

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and enter upon the duties of the office; and the
said directors shall elect from their own number a
president, who shall hold his office for one year,
or until the election of a new board of directors of
whom he is not one.

Sec. 5. And be it enacted, That at such election,
and at all meetings of the said stockholders, each
share of the capital stock of the said corporation
shall entitle the holder of such share to one vote.

Entitled to
one vote.

Sec. 6. And be it enacted, That the said direc-
tors shall manage the business of the said corpo-
ration, and shall have power to prescribe the evi-
dence of ownership, and transfer of shares of stock
in the said Company, to provide for the appoint-
ment, employment, compensation, and dismissal
of all such officers, agents and laborers as they
shall deem necessary, to provide for making all
contracts, agreements and deeds in the name and
on behalf of the corporation, and forming the cor-
porate seal thereof, and to make all such by-laws,
orders, and regulations as shall be necessary for
the exercise and use of the powers and privileges
hereby given to the said corporation, and the same
from time to time to alter and repeal; the action of
the said board of directors, however, to be under
and subject to the control of the stockholders in
any general meeting annually called at the instance
of the holders of not less than one-third in number
of the shares of said stock, and upon ten days no-
tice thereof.

Management.

Sec. 7. And be it enacted, That the said corpo-
ration shall not exercise banking privilege, or issue
any notes, token, or scrip to circulate as currency.

Banking pri-
vileges pro-
hibited.

Sec. 8. And be it enacted, That this act shall
take effect from the date of its passage.

In force.