ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

year, or until a new election for directors shall
thereafter be made ; and the said directors shall
have full power and authority to elect, by ballot,
a president from their body, and shall have full
power to elect a treasurer and secretary for said
company, and such other officers as they may
deem necessary ; and the stockholders of said
company, in one year after the day on which
said election shall take place, or on such other
day as may be designated by by-laws or ordi-
nance, and on the same day in every year there-
after, except the same shall occur on Sunday,
and in that case the day succeeding, shall elect,

359

by ballot, from among the stockholders, seven
persons as directors, who shall have full power
and authority to elect a president, secretary and
treasurer, and other officers, as above set forth ;
and the directors for the time being shall give
public notice for each election at least ten days
previous to the day thereof, and in every said
election each stockholder shall be entitled to
one vote for every share by him or her held ;
and in case it should happen that an election of
directors shall not be made on the day desig-
nated for the same to be held, the said corpora-

Elect direc-
tors.

tion shall not, for that cause, be dissolved, but it
shall be lawful on any other day to hold and
make an election as aforesaid in such manner
as shall be regulated by the by-laws or ordi-
nances of said corporation ; and in case of the
death, resignation or removal of the president
or a director, or any other officer, the remaining
said directors shall elect another person to sup-
ply each vacancy for the remainder of the term.
SEC. 6. And be it further enacted, That the

Lawful.

said directors shall be authorized to make such
by-laws, rules, orders and regulations, not in-
consistent with the laws of this state, as shall be
necessary for the government, well being and
directing the affairs of said company, and also
to appoint such other officers and employees as
they may deem necessary, and to fix the com-
pensation or salaries of all the officers and em-
ployees of said company.
SEC. 7. And be it further enacted, That the
said stockholders and their successors, from the
time of the first meeting before mentioned, shall,

Authority of
directors.