PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1847.

may fill all vacancies occurring in their body until the
next annual election, and all elections required by this
act to be made on a particular day, and not made on that
day, may be made on any other day after twenty days
public notice thereof, and general meetings of the stock-
holders may be called during the interval between their
stated annual meetings by the president and directors
or a majority of them, or by any number of the stock-
holders holding one-fourth of the stock of said company;

CHAP. 263.

provided, that public notice of at least twenty days be
first given of the time and place of holding of such
meeting, which said notice shall also state, the object of
the call.

Proviso.

SEC. 7. And be it enacted, That every president and
director of said company before he acts as such, shall
swear or affirm, as the case may be, that he will well and
truly discharge the duties of his office, to the best of his
skill and judgment.

Qualification.

SEC. 8 And be it enacted, That at the regular an-
nual meetings of the stockholders of said company it
shall be the duty of the president and directors in office
for the preceding year to exhibit a clear and distinct state-
ment of the affairs of the company, that at any called
meeting of the stockholders a majority of those present
may require similar statement from the president and
directors whose duty it shall be to furnish them when
thus required, and that at all general meetings of the
stockholders a majority in value of all the stockholders
in said company may remove from office any president
or any of the directors of said company, and may appoint
others in their stead.

Directors to
exhibit annual

statement.

SEC. 9. And be it enacted, That the said president
and directors or a majority of them may appoint all such
officers, engineers, agents or servants whatsoever as they
may deem necessary for the transaction of the business
of the company, and may remove any of them at their
pleasure, that they or a majority of them shall have power
to determine by contract the compensation of all the em
gineers, officers, agents or servants in the employ of said
company, and to determine by their bye-laws the man-
ner, of adjusting and settling all accounts against the
company, and also the manner and evidence of transfers
of stock in said company, and that they or a majority
of them shall have power to pass all bye-laws which
they may deem necessary or proper for exercising all

the powers vested in the company hereby incorporated,

Duty of Di-
rectors.

and for carrying the objects of this act into effect; pro-
vided only, that such bye-laws shall not be contrary to

Proviso.