1026

LAWS OF MARYLAND.

as the case may be, at the term next after the return of said
inquisition, and be recorded, and, upon payment or tender of
payment of the damages assessed by said inquisition, said
company shall proceed to occupy and possess the land or
materials so condemned for the purposes aforesaid; but if said
inquisition shall be set aside, the said court may, in its dis-
cretion, as often as may be necessary, direct other inquisi-

Maybe
obtained by
condemnation

tions, in the manner above described; and if said company
shall be unable to procure, by purchase, gift or grant, a right
of way for its tracks from the owners of land needed therefor,
the same may be obtained by condemnation, as is provided in
Section one hundred and sixty -seven of Article 23 of the Code
of Public Laws.

Capital stock,
with privilege
to increase.

SEC. 7. And be it enacted, That the capital stock of said
company shall be fifty thousand ($50,000) dollars, divided
into shares of the par value of fifty ($50) dollars each;
with the privilege to increase the same by a vote of the stock-
holders at a special meeting to be called for that purpose to
three hundred thousand ($300,000) dollars; and the incorpora-
ators, or a majority of them, named in this Act shall have the
power to open books of subscription at such times and places as
they may deem expedient, and when not less than two hundred
shares have been subscribed, the stockholders may organize the

Election for
directors and
officers for first
year, etc.

company, and may elect not less than seven (7) nor more than
twelve (12) directors to serve until the ensuing annual election,
or until their successors shall have been duly elected and quali-
fied; and the said directors shall elect from their number a
president and a vice-president, and shall also have the power
to elect a secretary and treasurer, and to appoint and employ
such other officers, clerks, agents and servants as the business
of the company may demand, and any of the same to remove
for cause, and shall also fix the amount of bond to be given
by the officers and employees for the faithful discharge of
their duties, and to regulate the salaries to be paid to them.

Annual elec-
tion of
directors.

SEC. 8. And be it enacted, That the directors of said com-
pany shall be elected by the stockholders at a general election
to be held on the first Tuesday in March in each and every
year, who shall serve for one year, or until their successors
are elected and qualified. All elections shall be by ballot,
and at such elections and all meetings of stockholders every
stockholder shall be entitled to one vote for each share of
stock held by him or her. Ten days' notice shall be given
by publication in two daily newspapers published in the City
of Baltimore of the time and place of said annual meeting,
and when a meeting shall be held in pursuance of such notice