PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

ty days public notice thereof, and at such meeting the
said commissioners shall lay the subscription books
before the subscribers then and there present, and
thereupon the said subscribers or a majority of them,
shall elect eight directors, by ballot, to manage the
affairs of said company, which eight directors, or a
majority of them, shall have the power of electing
a president of said company, and on all occasions when-
ever a vote of the stockholder of said company is to be
taken, each stockholder shall be allowed one vole for
every shire owned by him, her, or them.

CHAP. 536.

SEC. 6. And be it enacted, That the stockholders in
said company or a majority of them, in value, shall on
the first Monday of April after the organization of the
company, so directed in the preceding section of this act,
and on the first Monday in April, in ouch succeeding
year, elect by ballot as aforesaid, for the ensuing year,
eight directors as aforesaid, and the directors of said
company or a majority of them, shall have power to ap-
point one or more judges of all elections, and to elect
the president as aforesaid, and to allow him a compen-
sation for his services, if they shall deem proper, and
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
stockholders may be called during the interval between
their stated annual meetings by the president and direc-
tors or a majority of them, or by any number of the
stockholders holding one fourth of the stock of said

Directors—how
and when cho-

sen, &c.

company; provided, that public notice of at least twen-
ty days be first given of the time and place of holding
of such meeting, which said meeting 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.

To make oath.

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
statement 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 presi-
dent and directors, whose duty it shall be to furnish
them when thus required, and that at all general meet-

Annual state-
ment.