The Delaware register, or, Farmers', manufacturers' & mechanics' advocate. [volume] (Wilmington, Del.) 1828-1829, 1829-03-21

ment not repugnant to the constitution and laws of the
u S. of this State, and to enjoy the franchises in
cident to corporation but not to discount notes or
bills, loan money on interest to exercise any
banking powers whatever and the following shall be
the fundamental articles of the constitution of said
corporation
First, the business and concerns of said corpora
ton shall be managed by five directors, who shall be
elected by the stockholders the first election shall be
held hereafter is provided for all the subsequent
elections shall be held at the annual meetings of the
stockholders, the directors shall continue in office
til the annual meeting next succeeding their election
and until successors shall be chosen but vacancy
occasioned by death, resignation otherwise IN the
office of Director may be filled by appointment made
by majority of the board of Directors the direc-
tors must be stockholders and the Office of director
shall be vacated by his ceasing TO be stakeholder
the directors shall choose of their number to be
President they shall meet according to the bylaws
of the corporation and three of them shall form
board do business, and if the President should be
absent, President may be appointed pro tempore:
Second, The Directors shall have power to take
bond from any officer agent as the bylaws shall
require or as may be deemed expedien either with
or without surety and to this end to and employ
the capital stock and funds of said company under
such regulations the bylaws may prescribe and
to bind by their contracts deeds or writings under
seal of the corporation and the hand of the President
all the property and estate, common stock and Joint
funds OF the corporation aforesaid, DuI per-
sons separate property of themselves and further
the Directors shall have power TO make bylaws for
the government of the said corporation and regula-
ting the management of the business and concerns
thereof and to revise, repeal and amend the same,
subject always to the control of the stockholders IN
regular meeting the bylaws, among other things,
shall prescribe the Offices Of the corporation other
than those of President directors and Managers the
bonds to be taken from the officers the place or pla
ces of holding the meetings of the stockholders the
manner of calling occasional meetings, and the mode
and regulations of assigning the capital Stock but the
said Everest Maury shall be manager for directing and
CARRYING on the culture and manufacture of the silk and
shall have power to purchase such lands, erect or pur
chase such buildings, employ such servants, appoint
such officers and agents, procure such materials and
ingredients and generally to do all such matters and
things mot inconsistent with, repugnant to the by
laws of said corporation) necessary for the
production and manufacture of silk to the best advan
taec from the first step toward the production of the
raw silk to the completion of its construction into cloths
or other manufactures, if the said company choose so
far to prosecute their said business and the directors
shall from time to time furnish him with such Of
money as may be necessary to enable him to per-
form the duties assigned him by this act and the said
Everest Maury shall receive of said company as com
pensaton for his services in the premises such salary
may be agreed on by the directors for the time be-
ing PAYABLE quarterly, and in consideration of his skill
in the business of said company, shall be additionally
entitled to and shall receive of all the dividends which
the said company shall make, sum equal to the amount
IL H.