Said directors shall, immediately after appointment, meet and organize by the election of one of their number president, and by the election of such other officers as they may deem necessary. They shall make and adopt such bylaws, rules and regulations for their own guidance and for the management and control of the children's home as may be expedient and not inconsistent with sections 96.300 to 96.380 and to that end may employ such persons as may be necessary for said purpose. They shall have exclusive control of all moneys collected to the credit of the children's home fund and all of the supervision, care and custody of said home; provided, that all moneys received for such home shall be deposited in the treasury of said city to the credit of the children's home fund and shall be kept separate and apart from other moneys of such city and drawn upon by the proper officers of said city upon the properly authenticated vouchers of the children's home board; said board shall have power to appoint a suitable person to take charge of the management and control of said home, and all necessary assistants for such person and fix their compensation and shall have power to remove such appointees and shall in general carry out the spirit and intent of sections 96.300 to 96.380, in establishing and maintaining a home for orphan children and the children of indigent parents.

(RSMo 1939 § 9662)