234

LAWS OF MARYLAND.

impair the capital stock of said company, the direct-
ors consenting thereto shall be liable, in their indivi-
dual capacities, to the company, for the amount of the
stock so divided; and each director present when
such dividend shall be made, shall be adjudged to be
consenting thereto, unless he forthwith enters his
protest on the minutes of the board, and give public
notice to the stockholders at the declaring of such
dividend.

To report an-
nually to the
stockholders.

SEC. 11. And be it enacted, That at each annual
meeting of the stockholders, the directors of the pre-
ceding year shall exhibit to them a complete state-
ment of the affairs and proceedings of the company
for such year; and special meetings of the stock-
holders may be called by order of the directors or by
stockholders holding one-fifth in amount of the cap-
ital stock, in the like notice, as that required for an-
nual meetings, specifying moreover the object of the
meeting; but no business shall be transacted at such
special meetings, unless a majority in value of the
stockholders shall attend in person or by proxy.

Authorised to
locate and con-
struct railroad.

SEC. 12. And be it enacted, That the said com-
pany be and they are hereby authorized to locate and
construct a railroad, from the waters of the Chesa-
peake bay, in Kent county, or some point on the
Chester river, in said county, to the north side of the
Sassafras river, in Cecil county, (or to some point
on the line of the Queen Ann's and Kent Railroad,)
as may be deemed most advisable; and also to lo-
cale and construct branches, from said road, to any
point or points in Kent county, as may be deemed
advisable.

May make
connexions.

SEC. 13. And be it enacted, That the said com-
pany be and they are hereby authorised, should they
deem it advisable, to connect the said railroad with
the Sassafras River Railroad, at the Sassafras river,
and with any other railroad that may be located in
Queen Anne's county, as may be hereafter determined
upon by the said company; and for all such pur-
poses to enter upon any land necessary for locating,
laying out, or making the said road, branches or ex-
tensions, or any part thereof, or to procure land, gra-
vel, earth, wood or timber, for such use, and to ob-
tain the rights and titles to the same, as hereinafter
provided.

Mode of pro-
ceeding in a
condemnation.

SEC. 14. And be it enacted, That the president
and directors of the said company may agree with the
owner or owners of any lands, earth, gravel, timber, or