“ The business and affairs of the said Company shall be conducted and managed, and its powers exercised by a board of seven directors to be annually elected by the shareholders and who shall severally be shareholders to an amount of four thousand dollars of the said stock, and who shall be elected a the annual general meetings of the said Company by, the shareholders then present, in person or by proxy. ”

“ The Company shall not be bound to see to the execution of any trust, whether express, implied or constructive, to which any of the said shares may be subject, and the receipt of the party, in whose name any such share shall stand in the books of the Company, shall, from time to time, be a discharge to the Company for any dividend or other sum of money payable in respect of such share, notwithstanding any trust to which such share may then be subject, and whether or not the Company have had notice ofsuch trust ”

“ Votes and proxies at this meeting the President of the Company, or, in his absence, the Vice-President, and in the absence of both, then one of the directors, shall take the chair.
Shareholders in arrear not to vote 14. No shareholder shall be entitled to vote at any meeting of the Company, or be capable of election as a director, who shall then be in arrear for the payment of any calls then actually due on his shares. ”