1887 private laws – Ch.87 Sec.4
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CHAPTER 87 An act to incorporate the South Atlantic Telegraph Company. The General Assembly of North Carolina do enact :
Said corporation shall be governed by a board of seven(7) directors chosen from the stockholders at an annual meeting to be held on the first Monday in June in each year, at such place and time as the outgoing board may determine, and of which thirty days notice shall be given ; and said board shall appoint one of its members to act as president and one to act as treasurer and secretary respectively.