Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-04-02
ry matters and things connected with these
objects, or either of them.

| SEC. D. The affairs OF said Corporation
shall be managed by nine Directors, who,
after the first year, shall be elected on the
first Monday in April of each and every
year in the city of Glasgow, as the board of
Directors may designate-frst giving twen-
ty days notice by publication in some news
paper published in each of the counties of
Howard and Cooper Of such election, but
should anything prevent its taking place as
hereby provided, the corporation shall not
for that cause be deemed dissolved but the
election may take place as shall be provided
by the company's bylaws; at every election
oi Directors, each share of stock shall enti-
tie the holder TO one vote, and stockholders
in all elections, may vote by proxy, which
shall be in writing, shall state the name of
the person authorized to cast the votes and
shall be signed by the stockholder from
whom the powers are received, and they
shall not be required to acknowledge the
same before public officer.
Sec. 6. The Directors regularly chosen
by TIE stockholders of this company, shall,
as soon as may be after every annual cleo
tion. choose from their own body one per-
son to act as President, and one as Vice
President; the first shall preside at all meet
inss of the Directory, and in case of the abb
sence or death of the President, the vice
President shall perform his duties, either Of
whom with the Secretary, (who shall also
be chosen BY the Directors from their own
members, or otherwise, as they may elect }
shall sign the policies or contracts made by
order of the board Of Directors, which con-
tract shall be binding with or without the
seal Of tie corporation, and shall do and
perform uch other duties as may be pre-
scribed in the company's bylaws; any Di-
rector ceasing 70 be stockholder shall cease
to be Director and all officers of said cor
pora'ion shall continue in Office until their
successor or successors shall be chosen and
qualified.
Sec. 7. The corporation hereby created
shall have full power and authority TO invest
its capital and surplus funds in any funded
debt created or to be created by or under
any law of the United States Governments,
or any law of the States, in mortgage on real
estate, in Missouri, State, or Rail Road
stocks, promisory notes, bills of exchange,
and on bottomry and respondentia, 10 sell
and transfer. change and reinvest the
same, as the Directors may deem for the
interest of the Corporation, to be made a.
vaiable in the line of its ordinary business;
provided, it shall not receive any greater
rate Of interest on loans than is provided for
by the Statutes of the State.
SEC. 8. The stock of said Company shall
be considered personal property and shall
be transferable according TO such rules and
under such restrictions as the board Of Di-
rec,ors may direct, who by their bylaws
may also prescribe what number Of Drec-
tors shall constitute a board competent 10
transact the business of the company, pre-
scribe what number of clerks and other Off
GERS may be necessary; prescribe their du-
ties titles and salaries, and such other things
as they may deem proper; always, however,
subject TO the laws of this State. The Di-
rectors shall annually or biennially at such
time as the bylaws may provide, require
each stockholder TO execute to the company
new note for whatever balance he may be
arrears on his subscription Of stock, which
shall be secured TO their satisfaction, and
should any stockholder fail TO comply with
in thirty days after he shall have been served
with written notice, deposited inthe post
office, his stock may be declared forfeited,
together with all moneys paid thereon TO the
company, and the Board Of Directors shall
have power TO sell such forfeited stock in
such manner as may be provided for by the
company's bylaws. .. .
SEC. 8. No dividend on the capital stock
Of said Company shall be payable to the
stockholders, until the capital stock shall
either from subscription or accumulation of
profits amount to one hundred thousand
dollars, when the net profits of the business
Of the Company shall be divided by the Di-
rectors as may be provided by the bylaws.
SEC. 10. In addition 10 The powers here
tofore conferred, the said corporation shall
possess, all the powers granted TO the St.
Louis Savings Institution, incorporated by
the General Assembly March the I'd, 1866
to the full extent Of the privileges granted
therein, so far as applicable to this corpora
tion, and not inconsistent with the provis-
ions of this act as set forth above; provided,
said corporation shall not have the right to
issue bills, notes, or other evidence upon
loan or for circulation as money.
Sec. IL. This company shall have power
10 establish such agencies as may be deemed
proper for carrying on its business, within |