1860.

LAWS OF MARYLAND.

CHAP. 12.

such election shall be held within six months there-
after, notice of the time and place of every such
election shall be published for one week preceding
the day appointed therefor, in two of the daily
newspapers printed and published in the city of
Baltimore.

Directors.

SEC. 5. And be it enacted, That the first directors
of said corporation shall be Horatio L. Whitridge,
William Chrichton, Charles D. Hinks, George P.
Kane, Samuel S. Levering, Henry M. Warfield,
Thomas R. Matthews, Jr., Benjamin G. Harris and
Franklin F. Pope, who shall continue in office un-
til others shall be chosen in their places, and so
from time to time, the directors who may be duly
elected, shall continue in office and hold over until
others shall be duly elected in their stead.

Appointment.

SEC. 6. And be it enacted, That the directors
aforesaid, or the survivors of them, and those who
may from time to time be duly elected, shall by a
majority vote, as soon as may be after their election,
appoint from among their number a president, vice-
president and treasurer, to serve one year from the
date of their election, and until others are elected
in their stead; and said directors shall have power
to fill vacancies in the board occasioned by death,
resignation, removal from the State, or otherwise,
and to make all such by-laws not inconsistent with
the laws of this State or of the United States, as
they may deem proper for the management of the
affairs of said corporation, the holding of elections,
the transfer of stock, and calling in of subscrip-
tions, and they shall have power to alter or amend
the said by-laws from time to time.

Quorum.

SEC. 7. And be it enacted, That a majority of the
directors for the time being, shall constitute a
quorum for the transaction of business, and all
committees, officers, clerks or servants, authorised
or created by this act, or the by-laws of said cor-
poration, shall be appointed by the directors afore-
said, and said directors may from time to time,
build, reconstruct, repair, alter or remodel any
edifice or edifices standing or to be erected, or any
real or leasehold estate that may be acquired or
held by said corporation, pursuant to the provisions
hereinbefore contained.

Subscriptions.

SEC. 8. And be it enacted, That the persons here-
inbefore named as directors, are hereby authorised