The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1847-02-17
sUMTERVlLIE 1 SOUTH FEBRUARY II 1a47

aJOu' ~ iIolt 5title sAO tine, untt a regular
meeting shalGbs formed. But no stock-
inolsaeI, !, whose shares are in any form pp,lg-
ed lo the Corporation, or.fora lis benefit,
shallbe permitted to vote onp,sucI shares
and no vote shall be given blythe cor nora. !.
llinn, dts olfi GERS. or any other spcrso,,. on
such shares; nor shallanyl vote bes given,
by ny..pers0n for any share actually own.
dd by. such corporations.
IVll. Tint the proprietors OF stock, al
the general meeting above directed ahd al
every annual meeting thereafter, shall elect
President and :sii Directors, three Of
whom shall be chtsen from Stockholders
RESIDENT III South Carolina, and; three (r1m
Stockholders resident in North, Co rolina,
who shall continue in Office, unless sooner
remorsti, until the next annual mi e ling a(:
ter their election. and Il until their success.
Ors shall be elected anl shall enter upon
.heir duties; but the said President and any
Iol Ihe Directors may. at any time, be re-
moved, and at The vacancy thereby occas-
ioned be filled by a majority of The votes
given at any general Or called meeting.
The Pre- sideDi, with any Six ar more of The
Directors, or in the event Of the sickness,
Inability Or absence Of The President, any
seven or more ofthe Directors, who in such
case shall appoint one oflheir body Presi-
dent pro femaPore, shall constitute board
for the transaction og business. In case Of
vacancy in The Office Of President, or any
Director, from death, removal, resignation
or inability. the vucancy may be filed by
The appointment Of the board, until the
next annual meeting.
| VIII. That there shall be annual meet
lngs Of the propric,ors OF stock, al such
times and plnces as the preceding annual
meeting shall have appointed. Al such. "r
any special meeting, proprietors Of stock
m"y attend aud vote by proxy, under such
rrgulat"ns as the bye.laws shall prescribe:
Propidcd TINT in no case shall ,he P,esi.
dent vote under the authority Of another
stakeholder, nor shall any officer or agent
~ Tie company be the proxy of q stock
holder, and all and every proxy made to
.he President, or any officer OF the Com
pnny, Jointly with another or with others,
shall he void.
tx That special meetings OF the COM
phny may be called by the President aud
Directors, or a maturity nf their board, as.
sembled us such, and they shall be called
whenever ten members Of The company, or
more, owning togelher three hundred
shares. shall require it. Propidcd, that
lPnbfo n",ioo oh"ll .Erst bo sivon &c ih O
lime and place Of such meeting, and Of The
object for which it is called, unless The in
,erest OF tue company requires that the
cause Of convening the meeting should M,
be published. and proDidcd also, that ci.
ll,er person or by proxy, there shuli be
present ut the meeting, number Of per
{ sons, owning together a majnri.y Of the
stock.
). x. That the Presdcn, and Directors ol
the said company. shall be, and they arc
hereby vested with all the rights and pow.
ers necessary fnr the construction, repair
and maintaining Of Il Rail Road To be lnca.
led as aforesaid. and prosecute the same
on The route designated in the first clause
"f This Act the intermediate course and di
rccli"n Of The road between the places de
signated. 10 be determined by the stock
h"dcrs. And the said President and Di
rect0rs may cause 10 he constructed, foI
the said company, all works whatever
Which mag be deemed necessary and expc
dicnt for the successful and proper com.
rlelion Of the said Rail Road; they mny
.Inppoint q Secretary, Treasurer and other
officers. and take from them bonds and Sc.
curity for the faithful performance Of lhei,
duty, which said bonds shall be made pav.
nble tn the company; but the salaries, oI
or other compensation, shall be regulated
~ w BShSioi iCctuB
And during the intervals between the gen
, cral meetings Of The stockholders, the Prcsi
| ,loEt and Directors may lransuct all the bu
siness Of the company, under the limila
lions and restrictions herein before express
ed.
XI. The President and Directors shal
have power to make contracts with an,
] person or persons, on behalf Of the sait
J, company, fur making the said road. an,
/. .|Performing all others works connecie.
] with the same, that may be necessary q
u proper in constructing and maintaining lh
Il same. And they shall Lave power 10 re
!, ceiye the cash inslalmen. received hy tn
e commissioners on subscribing for stock
D and their receipt fnr The same being on de
i posilc in bank, shall be legal .lisch.rg,
e md in the event that any Of The said con,
e missioncrs shall have failed to deposit til
i: amount received in the cnst ins,almrn, i
i bank, as required. the said hrraulling com
u tnissi"ners shnll pny over the same To I'll,
s President and Directors; and il, on demand
$ they fail TO do so, The said President aud D
J. rec'ors may commence suit thereon
g against the said defnulling commissioners
:. by petition, in any Of the courts of law, i
h which The defendant or defendants sha
o not be entitled TO any Importance. An
fItS V Z Il