JOHN WALTER SMITH, ESQ., GOVERNOR.

name and behalf of the said company, all the rights and privi-
leges which are intended to be hereby given. The stockhold-
ers shall have the right by vote at a general or special meet-
ing called therefor, to increase the number of directors from
twelve to a number not exceeding twenty-four.

723

SEC. 3. And be it further enacted, That the directors shall
be elected annually by the stockholders on the second Monday
in January, of which meeting ten days' notice shall be given
by publication in some daily newspaper in Baltimore City,
and they shall elect from their number at the first meeting of
the board after their election, as prescribed by the second
section of this Act, and after all subsequent elections, a presi-
dent and one or more vice-presidents; and shall also have
power to elect a secretary and treasurer, who need not be of
their number, and one person may hold, and they also have
power to appoint and employ such other officers, clerks and
agents as the business of said company from time to time
requires. All elections shall be by ballot, and at such elec-
tions and all meetings of stockholders every stockholder shall
be entitled to one vote for every share of stock held by him,
but no person shall be eligible as director who is not a stock-
holder.

Annual elec-
tion of
directors and
officers.

SEC. 4. And be it further enacted, That said company shall
have power to act as agent for the purpose of handling, issu-
ing, registering and countersigning the stock, bonds or other
evidence of debt of any State, corporation, association,
municipality or public authority, on such terms as may be
agreed upon, to buy, sell, mortgage, and deal in every and all
description of properties, personal effects, securities, mort-
gages, land, certificates of indebtedness, stocks of incorporated
companies, loans on bonds of the United States, or of any
city, county or municipality, or of any incorporated company,
or any individual.

Power to act
as agent
for certain
purposes.

SEC. 5. And be it further enacted, That said company be and
is hereby authorized and empowered, in its discretion, to
permit the stockholders of said company to assume a portion
of any business, enterprise, undertaking or underwriting it
may enter upon or assume; provided, that in such case each
stockholder shall be entitled to assume his pro-rata portion of
that part of such business, enterprise, undertaking or under-
writing offered by the company to the stockholders; but the
company may, in its discretion, require of any of its stock-
holders satisfactory security for any obligation so assumed by
them; and each stockholder so assuming a portion of any

Stockholders
may assume
a portion of
business, etc.