A. W. BRADFORD, ESQUIRE, GOVERNOR.

J. Jones, James Graham and Samuel B, Foard,
are hereby appointed and authorized to act as Di-
rectors of said company, until the regular annual
election of a Board of Directors by the stockholders
of said company.

207

Sec. 5. And be it enacted, That on the first
Monday of June next, and annually thereafter, the
said stockholders of said company, or as many of
them as shall attend in person or by proxy, at the
place that shall have been appointed by the Di-
rectors for the purpose, shall elect by ballot from
the stockholders of said com-pany, eight Directors,
to serve for the period of one year, and until the
next election; the ballots shall be received and
counted by such Judges of the election as shall
have — — appointed ,by the Board of Directors;
each stockholder shall, be entitled to vote in person
or by proxy, one vote for every share of stock he
shall hold at the time of election, and the eight
stockholders who shall receive the highest number
of votes cast, shall be declared elected Directors ;
notice of the time and place of holding such elec-
tions shall be given in such manner as the by-laws
of the company shall provide; and if from any
cause an election of Directors shall not be held on
the day so appointed, an election may be held on
such subsequent; day, within sixty days, as the
Directors in ofiice shall appoint and notify as
aforesaid, or aforesaid, or at such time as the by-
laws of said company may provide.

Directors to
be elected.

Sec. 6. And be it enacted, That the Directors
hereby appointed, and those who shall hereafter
be elected from time to time, or a majority of them,
shall have power, "and" are hereby authorized to
appoint from among their number a President of
the Company who shall possess such powers, per-
form such duties, and be:entitled to such compen-
sation as the by-laws, made in conformity to this
Charter shall provide, to fill all vacancies which
shall be caused in the Board by death, resignation,
removal from the State or ceasing to be a Stock-
holder, to appoint a Secretary and Treasurer of
the Company, or, to vest both offices in the same
person for such times as they may think proper to
appoint or employ, dismiss or renounce, so many
Agents, Clerks, Factors or other persons as the
affairs of the company may from time to time re-

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