he, she, or they may hold in said company; and said votes may be
given by proxy, or in propria per sona.
Art. 3d. It shall be the duty of said
managers, when chosen, to elect from their number, a Treasurer and
Secre tary. It shall be the further duty of said managers to meet in
the upper room of the office of said company, on the first Mondays of
November and May of each year, at nine 0’clock,
A. M. to inspect the books of said compa ny and transact such other
business as may be deemed necessary.
Art 4th. It shall be the duty of said managers to choose
from among their number, seven men, who shall meet in the upper room
of said office, on Tuesday of each week, at 4 0’clock, P.M. to
inquire into and assist in all matters pertaining to said company.
Art. 5th. Each manager shall
re ceive from the company one dollar per day for his services when
called to gether at the annual and semi-annual meetings. The Treasurer
and Secre tary, and the seven, the committee of the managers, shall
receive a compen sation for their services as shall be agreed by the
managers at their semi- annual meetings.
Art. 6th. The first election of
man agers, as set forth in the second arti cle, shall take place at the
meeting of the members to adopt this agreement, who shall hold their
office until the first Monday of November,
1837, un less removed by death or misdemeanor, and until others
are duly elected. Ev ery annual election of managers shall take place
on the first Monday of No vember, of each year. It shall be the duty
of the Treasurer and Secretary of said company, to receive the votes of
the members by ballot, and declare the election.
Art. 7th. The books of
the compa ny shall be always open for the in spection of the
Art. 8th. It shall be the duty of the managers of the
company, to de clare a dividend once in six months; which dividend
shall be apportioned among the members, according to the installments
by them paid in.
Art. 9. All persons subscribing stock
in said firm, shall pay their first in stallment at the time of
subscribing; and other installments from time to time, as shall be
required by the man agers.
Art. 10. The managers shall give
thirty days notice in some public paper, printed in this county,
previous to an installment being paid in. All subscri bers residing
out of the
, shall be required to pay in half the
amount of their subscriptions at the time of sub scribing, and the
remainder, or such part thereof, as shall be required at any time by
the managers, after thirty days notice.
Art. 11th. The Treasurer shall be empowered to call special
meetings of the managers, whenever he shall deem it necessary;
seperate and aside from the annual and semi-annual meetings.
Two thirds of the mana gers shall form a quorum to act at the
semi-annual meetings, and any number of the seven, the committee of
the man agers, with the Treasurer and Secreta ry, or either of them,
may form a quo rum to transact business at the weekly meetings; and in
case none of the sev en are present at the weekly meetings, the
Treasurer and Secretary must trans act the business.
Art. 13th. The
managers shall have power to enact such by-laws as they may deem
necessary, from time to time, providing they do not infringe upon
these Articles of Agreement.
Art. 14th. All notes given by said society, shall be
signed by the Treas urer and Secretary thereof, and we the individual
members of said firm, here by hold ourselves bound for the redemp tion
of all such notes.
The notes given for the benefit of said society, shall be given to
the Treasurer, in the following form:
“Ninety days after
date, we jointly and severally promise to pay A. B. or order
[blank] dollars and
[blank] cents, value
A record of which shall be made in the
books at the time, of the amount, and by whom given, and when due— and
deposited with the files and papers of said society.
Art. 16. Any
article in this agree ment may be altered at any time, an nulled, added
unto or expunged, by the vote of two-thirds of the members of said
society; except the fourteenth ar ticle, that shall remain unaltered
dur ing the existence of said company. For the true and faithful
fulfillment of the above covenant and agreement, we in [p. 442]