PRIVATE ACTS. 1461

SEC. 3. And be it enacted, That the directors shall be
elected annually by the stockholders on the second Tuesday in
May of every year, and the directors shall elect at the first
meeting of the board after their election, as prescribed by the
second section of this Act, and after all subsequent elections, a
president and such vice-president as they may see fit, and shall
also have power to elect a secretary and such assistant secre-
tary, and a treasurer and such assistant treasurer, as they
may see fit, and said secretary and treasurer may be one per-
son, and such assistant secretary and assistant treasurer may
be one person, and to appoint and employ such other officers,
clerks and agents as the business of said company from time
to time requires; all elections shall be by ballot, and at such
annual meetings of the stockholders and all other meetings of
the stockholders every stockholder shall be entitled to one vote
for every share of stock held by him, but no person shall be
eligible as a director who is not a stockholder to the amount of
five shares of stock.

SEC. 4. And be it enacted, That said company shall have
power to receive and hold on deposit, or in trust and as se-
curity, any estate or property, real, personal or mixed, in-
cluding cash, notes, bonds and obligations of.States, compa-
nies, corporations and individuals, and the same to purchase,
collect, adjust, settle, sell and dispose of, and upon such terms
as may be agreed upon between them and the parties contract-
ing with them, and the said company shall have the power to re-
ceive money subject to check, to pay and sell exchange, both
domestic and foreign, stocks, bonds, coin and bullion, and to
lend money on personal or other security and generally to deal
in every and all descriptions of property or properties, per-
sonal effects, securities, mortgages, lands and certificates of
indebtedness.

SEC. 5. And be it enacted, That the said company be and it
is hereby authorized to act as trustee in or under any mort-
gage, bond, instrument or evidence of debt issued by any
municipality, body politic or corporation of the United States
of America or of any State or of any one of the United States,
also to execute all authorities and to attend to and care for
and manage all matters of business of every kind, nature and
description, which may be conferred upon it by any person or
body corporate, including the sale, lease or other disposition
of property, real or personal, and to collect all moneys, with
full power and authority to execute and deliver on behalf of its
principal, deeds, leases or releases, bonds, contracts or other
instruments of writing; to institute suits, actions or other pro-
ceedings in their behalf and to fully attend to any of said