Sect 4, We will immediately upon this signing of these articles
elect a President Vice President Secretary Treasurer and seven directors
who shall hold their office and be directed of said company until
the first day of August 1870 and until their successors are elected
and enter upon the duties of the office and on the first day of
August 1870 and annually their after and election shall be held at
such place in the town of Live Oak County of Suwannee State of
Florida under such regulations as are herein and may be by the
By Laws prescribed for the officers and directors of said 
company
 The President and directors shall elect or appoint such subordi
nate officers Agents and Attorneys as they deem necessary and dismiss
them at pleasure and said President and board of directors and other
officers of the company shall be capable of exercising such other powers
and authorities for the well governing and directing the officers of the com
pany as to them shall appear condusive to the interest of the company
a majority of the board of directors shall constitute a quorum
to do business and the President and in his absence the Vice
President shall preside at all meetings of the directors or company
and in case of a tie shall give the casting vote in case of the absence
of the President or vice President the directors if at a meeting of
their body as the company or if at a meeting of the company
shall elect one of their members to preside Protem the secretary shall
keep the record of the company and board of directors the Treasurer
shall receive and pay out all money of the company and shall
give such Bound as may be prescribed in the By Laws
Art 2, The capital stock of said company shall be one hundred
Thousand dollars to be divided into Shares of one hundred dollars
each an the same may be increased from time as the board
of Directors may deem expedient
Art 3, That in all elections for the officers or directors the share
holders may vote in person or by proxy and shall be entitled
to one vote for each and every share subscribed by them upon
which all assessments have been paid and in case of a vacancy
on the board of directors such board of directors such vacancy
may be filled by remaining members of the board in case of 
a vacancy in either of the officer of said company the board Directors
shall call a special elections of the stock holders for the purpose
of filling said vacancy giving at 40 days notice of said election
Art 4, The President and Directors of said company shall open
books for subscription for the capital stock of said company at
such times and places under the direction of such persons as they may
deem best for the interest of the company and the principle place of
business of said company shall be at the town of Live Oak
Art 5, All things else necessary or proper for the purpose of more
fully carrying out and complying with said act of the