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
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 o’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 members.
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 , 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
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.
Art. 15. 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  dollars and  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]