A. W. BRADFORD, ESQUIRE, GOVERNOR.

and merchandise or vessels, shipping in port or in
building, to insure and guarantee against loss on
marine export or other ships of whatsoever kind
or nature, on such terms and rates of premium as
may be agreed upon by the President and Direc-
tors, and shall have the privilege and power to
effect re-assurance on property to any amount that
the. Directors in their wisdom may direct for the
better security of its stockholders and policy
holders, every contract, agreement policy or other
instrument shall be signed by the President and
Secretary and sealed with the company's seal.

147

Sec. 7. And be it enacted, That in case of a
partial destruction by fire of any property insured
by this company, the loss shall be determined by
assessors appointed as follows: the person whose
property is insured shall select one disinterested
person within ten days thereafter, and after such
selection the Board of Directors shall select an-
other; should these two persons disagree in their
valuation of the loss, they shall select another dis-
interested person, and the award of a majority
shall be final, and the Directors shall cause the
same to be paid within sixty days next after such
award.

In case of
partial de-
struction —
award how to
be determined.

Sec. 8. And be it enacted, That the annual
meetings of this company shall be held on the
first Tuesday in January in each year or within
thirty days thereafter, and the President and
Directors shall cause a general statement to be
prepared, exhibiting the amount of business the
previous year, the amount of expenses, the amount
of losses paid and incurred, the balance remaining
and the cash in hand, together with the amount,
nature and condition of the sureties and other pro-
perty belonging to the company.

Annual meet-
ings.

Sec. 9. And be it enacted, That the President
and Directors may declare dividends of the pro-
fits of the company semi-annually, or so much
thereof as to them may seem advisable, and in
case of any loss or losses whereby the capital stock
of the company shall be lessened, no subsequent
dividend shall be made, until a sum equal to such
diminution and arising from the profits of the
company shall have been added to the capital.

Dividends.