ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

Cole, Jordan Stabler, Eugene Levering, Edward
Otis Hinkley, Edward C. Robinson, Charles F.
Hanna, William Cunningham, and Charles F.
Pitt, Junior, are the directors for the year
eighteen hundred and eighty-eight, and that at
the first meeting of the directors they shall pro-

347

ceed to divide themselves by lot into three equal
classes : the term of the first class shall be one
year, that of the second class two years, and
that of the third class three years, and until their
successors in each case are elected to fill the
place of those whose terms are to expire at the
end of the term of each class respectively as
aforesaid ; four directors shall be elected by said
corporation, at their annual meeting, who shall
hold their office for the term of three years, or
until their successors are elected, and each suc-
cessive year thereafter one-third of the directors
of said corporation shall be so elected for said
term to fill the class then becoming vacant as
aforesaid ; any director may be eligible for re-
election.
SEC. 6. And be it enacted, That an annual meet-

Three classes.

ing of the corporation shall be held on the sec-
ond Wednesday of December, or within ten
days thereafter, at such time and place as the
directors shall appoint, for the election of di-
rectors and the transaction of other business.

Annual meet-
ing.

SEC. 7. And be it enacted, That the said cor-
poration shall have perpetual existence.
SEC. 8. And be it enacted, That nothing herein

Existence.

contained shall so be construed as to authorize
said corporation to issue any script or other evi-
dence of debt to pass as currency, or to exercise
any banking privileges.
SEC. 9. And be it enacted, That the said cor-

Not issue.

poration shall have the privileges, powers and
franchises, and be subject to all the provisions,
restrictions and limitations concerning corpora-
tions under the laws of this state, except where
the same are inconsistent with this act.

Privileges &c.

SEC. 10. And be it enacted, That this act shall
take effect from the date of its passage.

Approved March 31, 1888.

Effective.