THOMAS SWANN, ESQUIRE, GOVERNOR.

shares of one hundred dollars each, and shall not
exceed three thousand shares, to bo subscribed for
and disposed of in such manner as the by-laws of
said corporation shall provide, and each subscriber
for one or more shares, who shall pay twenty dol-
lars on every such share to the use of said corpo-
ration shall be deemed a stockholder, and in vir-
tue thereof a member of the corporation hereby
created, and shall continue as such until ho, she or
they shall transfer or assign his, her, or their in-
terest in said share or shares, and his, her or their
assignee or assignees shall be substituted to the
rights of such stockholder or stockholders.

217

Sec. 3. And be it enacted, That there shall be a
general meeting of the stockholders of said cor-
poration on the first Monday of June, in each and
every year, for the purpose of choosing by ballot
or otherwise, five members of said corporation, to
be Directors, to manage the affairs thereof for
twelve months, anil until successors shall by cho-
sen, and in all meetings every stockholder shall bo
entitled to give in person or by proxy one vote for
each share of capital stock, standing in his, her,
or their name, on the books of said corporation;

Meeting for
election of di-
rectors.

and until the first named animal election, the said
John W. Ross, William W. Watkins, Robert
Fowler, Michael H. Hooper and John O. Reid,
shall be Directors of said corporation, and have
full power to act as such.

Director:,

Sec. 4. And be in enacted, That the Directors for
the time being or a majority, shall have power to
elect a President from their own body, to fill all
vacancies that may occur in the directory or presi-
dency, to appoint a treasurer, secretary, and all
such officers and agents as they may deem neces-
sary to conduct or execute the business of said cor-
poration, and fix their compensation, to contract,
agree for, and purchase, rent or hire, all such
lands, chattels, materials, rights, privileges and
effects whatever, and to make or repair, or cause
to be made and repaired, all such wharves, boats,
vessels and other conveniences as maybe necessary
for effecting the objects of said corporation, and
the same or any part 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, giving twenty Jays previous notice in

Power of Di-

rectors.