JOSEPH KENT, ESQUIRE, GOVERNOR,

1826.

pany, Roger B. Taney. William M. Medcalf, John R. Kelso,
Leonard J. Wyeth, Nathaniel W. Appleton, William C. Shaw,
Leonard Kimbal, J. J. Hoogewerff, W. W. Taylor, Isaac Hull,
Joseph Cox, Andrew L. Leakin, Andrew Ellicott, William H.
Keating, Robert Gilmer and Richard C. Stockton, their associ-
ates, successors and assigns, be and they are hereby created
corporation and body politic, by the name and style of The Te-
mascaltepec Mining Company of Baltimore, and by that name
may have succession, and shall be able and capable in law to sue
and be sued, implead and be impleaded, answer and be answer-
ed, in any court of equity or law, and to make and use a com-
mon seal, and the same to alter and change at their pleasure, and
to ordain and establish such by-laws and regulations as shall bo
necessary or convenient for conducting the affairs of this corpo-
ration, not contrary to law.

CHAP. 81.

2. And be it enacted, That the objects of the said corpora-
tion are declared to be the purchasing, working and carrying on,
of mines in the republic of Mexico, or elsewhere, and of all
operations growing out of or connected therewith.

Objects of corpo-
ration

3. And be it enacted, That the capital stock of said corpo-
ration shall not exceed three hundred thousand dollars, and to
consist of shares of three hundred dollars each.

Capital not to exc-
eed £300,000

4. And be it enacted, That there shall be a meeting: of the
stockholders of the company on the first Monday of November
annually, or within ten days thereafter, to be called by the di-
rectors for the time being, for the purpose of electing seven di-
rectois, who shall be elected by ballot, in person or by proxy
and each share shall entitle the holder thereof to one vote; other
meetings cf the stockholders may be held, when called by the
directors, or by any number of stockholders who shall be pro-
prietors of not less than fifty shares; and at all such meetings
the members present shall be a quorum.

Election of direc-
tors

5. And be it enacted. That the board of directors, (five of
whom shall be a quorum,) shall appoint one of their number to
be president; and they may fill up all vacancies which may hap-
pen in their body during the year; the said directors are re-
quired, authorised and empowered, to establish regulations for
the transfer of the stock of the company, and for proof of the
ownership therein; to employ and compensate all officers and
agents, mechanics and servants, deemed by them useful or need-
ful, and to dismiss them at pleasure; to enter into contracts on
behalf of the company, and to use therefor the name and seal,
or the name of the corporation; to make by-laws and regulati-
ons, and to repeal the same as they shall see fit; to keep full re-
cords of their proceedings, which shall be open for inspection at
all meetings of the stockholders, and to committees appointed
for that purpose; to report from time to time, and at least an-
nually, to the stockholders, a statement of their affairs; to de-
clare dividends of the profits, or any portion of the profits, in
their discretion; and generally to exercise all the powers and
privileges conferred or appertaining to this corporation.

President— vacan-
cies— powers

6. Provided, and be it enacted, That no power not hereby
expressly given to the directors, shall be exercised by the board,
which is incompatible with ordinances passed at meetings of
stockholders as aforesaid, and that the present trustees shall act

No power not ex-
ceeds given, to
exercuted by
board