DANIEL MARTIN, ESQUIRE, GOVERNOR.

1828

mong their own number; and the directors so elected, shall
be entitled to hold their offices, and a majority of them to
fill all vacancies which shall occur in their own body, or in
the office of president, by death, resignation, or ceasing to
be a stockholder, until the next annual election, but no cap-
tain or agent, while in the employ of the company, shall be
eligible as a director, or capable of continuing to act as such;
and the directors who were elected by the said stockholders
on the first Monday of January in the year eighteen hun-
dred and twenty-nine, now last past, to wit. William Mee-
teer, Thomas L. Murphy, Benjamin Buck, Godfrey Meyer,
Reuben Ross, John M'Lean, William West, John M'Cobb,
John Kurtz and Gotleib C. Grammer, are hereby continu-
ed and constituted directors under this charter, with full
right to act and exercise all the powers of directors of the
said company until the first Monday in January next, and
until a new election of directors, as provided by this act,
shall take place; and the said William Meeteer, chosen by
the said directors, president, is in like manner continued
and vested with all the powers of president of said compa-
ny under this charter, until a new election shall be made as
aforesaid.

CHAP. 183.

Sec. 4. And be it enacted, That the directors of the said
company, or a majority of them, shall have full power to
appoint and employ, and in their discretion to remove or
dismiss, a secretary, treasurer, and all such officers, clerks,
agents, mechanics, labourers and servants, as they shall deem
necessary, from time to time, to attend to, and transact or
execute, all the affairs and business of the company, and fix
their compensation; to contract, agree for and purchase,
rent or hire, all such lands, chattels, rights and privileges,

cause to be made and repaired, all such wharves, boats, ves-
sels, roads, carriages, and other conveniencies, as they shall
deem necessary for effecting the object of the company au-

in their discretion to sell, or otherwise dispose of; to apply
the funds of the company, so far as may be necessary for ef-
fecting the objects aforesaid, and in payment of the neces-
sary expenses of the company; and to pass all such resolu-
tions and by-laws as may be necessary to carry into effect
the powers vested in them by this charter, and the said re-
ject nevertheless to the revision and control of the stock-
holders in the manner hereinafter provided.

Appointment of

officers. Powers

of directors.

Sec. 5. And be it enacted, That the treasurer, before he
proceeds to act, shall give bond to the said corporation, in
such penalty as the directors shall prescribe, and with such
sureties, other than directors, as a majority of the directors

28

Treasurer to give

bond and security