Amsterdam,.... 27 Ilercupon it is to be duly considered, that the number of Directors, which with .....". mmz",.'. 17 the Supernumeraries, consists at present of 89 persons, could be diminished at Korth Quarter, .14 Groeningen 14 least one-third, and reduced to two-thirds without prejudice to the business to be ^ transacted by the Company, provided that the Supernumeraries be obliged to remove their domicil to the place where the Chambers are established, and render effectual service like the rest, and this particularly, with a view to furnish their respective superiors and stockholders with information and a knowledge of the Company's condition. And this reduction should be effected, not only because the great number of Directors frequently produces confusion and lack of zeal among themselves, but also to save a portion of the salaries received by the Directors, which, likewise, according to the present condition of the Company, can be lessened, as will hereafter be stated in the section on Retrenchment. It could be gradually

introduced and put into practice according as the Directors retire, on the expiration of their term, or upon their death, provided no new ones be chosen in their places, until reduced to the appointed number. In order to encourage the Directors the more in their duties in this regard, and that the Company may not experience any inconvenience from the too rapid change thereof, the term of their office ought to be extended somewhat longer than by the old charter; or the retiring Directors ought to be at least reeligible after the expiration of their term, the same as if they were nominated anew by the chief stockholders, in addition to those whom they by triple number may put on the ticket; this would have a tendency to excite the vigilance and zeal of the good, which on the other hand oftentimes becomes faint towards the close of their term.