874 
     
    
   
   
    
     VI. Not less than five directors shall con- 
     
     stitute a Board for the transaction of business, 
     
     of which the president shall always be one, 
     
     except in case of sickness or necessary absence, 
     
     in which case the directors present may choose 
     
     one of their board as chairman in his stead. 
     
     The chairman or president so appointed, shall 
     
     vote at the board as a director, and in case of 
     
     their being an equal numberof votes for or against 
     
     any question before the board, the president or 
     
     chairman shall have a casting vote. 
     
    

    
     VII. The directors, for the time being, shall 
     
     have power to appoint such officers, clerks, 
     
     and servants, as they or the major part of them 
     
     shall think necessary for executing the business 
     
     of the said corporation, and shall allow them 
     
     such compensation for their respective services, 
     
     as to them shall appear reasonable, all of which, 
     
     together with the expense of buildings, house- 
     
     rent, and all other contingencies shall be de- 
     
     frayed out of the funds of the corporation, and 
     
     the said directors shall likewise exercise such 
     
     other powers for the well—regulating the affairs 
     
     of the said corporation, as shall be prescribed 
     
     by the by-laws and rules of the same. 
     
    

    
     VIII. Every Secretary, Treasurer, Clerk, or 
     
     other officer of the said corporation having 
     
     charge of money transactions before he enters 
     
     on the duties of his office, shall give bonds with 
     
     one or more securities, to be approved of by the 
     
     directors, in such sum as they shall deem ade- 
     
     quate to the trusts respectively reposed in 
     
     them. 
     
    

    
     IX. The number of votes which each member 
     
     and stockholder shall be entitled to on every 
     
     occasion, when in conformity to the provisions 
     
     of this Act, the votes of the same are to be 
     
     given shall be in the following preportions, that 
     
     is to say: for one share, one vote, for five 
     
     shares, two votes, for ten shares, three votes, 
     
     for twenty shares, four votes, and for forty 
     
     shares, five votes and no more. 
     
    
   
   
    
     X. All stockholders and members of the said 
     
     corporation may vote by proxy : provided that 
     
     such proxy be a member, and do produce suffi- 
     
     cient authority in writing,‘ according to the 
     
     by-laws and rules of the said company, and that 
     
     such member do not hold more than six proxies. 
     
    

    
     XI. The directors may, and they are hereby 
     
     authorized, to fill up any vacancy that shall be 
     
     occasioned in the board of directors, by the 
     
     death, resignation, or absence from the Island, 
     
     for three months, of any of its members; but 
     
     in the case of the removal of a director by the 
     
    
   
   
    
       
     
    
   
   
    
     ROYAL GAZETTE. 
     
    
   
   
    
       
     
    
   
   
    
     members of the said company, for maladminis- 
     
    
   
   
    
     tration or misconduct, his place shall be filled 
     
    
   
   
    
     up by the said members of the said company ; 
     
     and the person so chosen by the directors or 
     
     members of the said company, shall serve until 
     
     the next succeeding annual meeting of the mem- 
     
     bers and stockholders. 
     
    

    
     XII. Before any shareholder shall be re- 
     
     quired to make payment of any instalment, or 
     
     call upon the amount of his subscription twenty 
     
     days previous notice shall be given by the di- 
     
     rectors, either by writing or verbally, of the 
     
     time and place of payment. 
     
    

    
     XIII. The directors may, whenever they 
     
     think fit, and they shall, upon a requisition 
     
     made to them in writing, by not less than ten 
     
     members of the said company, convene an ex- 
     
     traordinary general meeting of the members of 
     
     the said corporation, which requisition shall 
     
     eXpress the object of the meeting proposed to 
     
     be called, and shall be left at the office of the 
     
     company, on the receipt of which, the directors 
     
     shall call the said extraordinary general meet~ 
     
     ing by written notice to each shareholder, in 
     
     not less than ten days,and not more than twenty 
     
     days after the said requisition shall be deposited 
     
     at the office of the said corporation, and in the 
     
     event of the directors refusing to call such ex- 
     
     traordinary general meeting, the requisitionists 
     
     shall then have full authority to notify the 
     
     members of the said company in writing, of said 
     
     refusal, and to convene an extraordinary general 
     
     meeting in not less than six days after such 
     
     refusal shall be signified to said requisitionists.- 
     
    

    
     XIV. At any extraordinary generalmeetinrr 
     
     of the said corporation, whether called by ter 
     
     directors or by not less than ten members as 
     
     hereinbefore provided, it shall be lawful for,the' 
     
     members of said corporation, or major part of 
     
     them, to remove any director, and fill u) the 
     
     vacancy so.occasioned, or any vacancy dtheré 
     
     w1se occasroned, and transact any other busi- 
     
     ness ; always providing that no action shall be 
     
     taketp 1p pny platter not set forth in the state- 
     
     men 0 tie o 'ects for whic " ' 
     
     shall have beeii called. h the send meetmg 
     
    
   
   
    
     XV. The shares of the said corporation, or 
     
     any one of them, may not be transferred or 
     
     assrgned to any person not being a member of 
     
     the said company, without the owner thereof 
     
     has made an offer of it or them to the Board of 
     
     Directors, which Directors, or any other share- 
     
     holder whom they may name for that purpose- 
     
     shall be entitled to receive an assignment of