Sec. 8. And be it enacted, That the Board of
Directors shall have power and authority to ap-
point, and employ all officers, engineers and agents
as may be necessary to transact the business of the
Company; that they may purchase or lease lands
necessary for the business of the Company, hire
or build boats or vessels to be employed by them,
make and build such wharfs and houses as may be
necessary for their business, and that they pre-
scribe the mode of conducting the elections of said
Company, the manner and evidences of transfer of
stock and the condition of forfeitures thereof,
and are hereby empowered to pass all by-laws and
resolutions requisite for the welfare of the Com-
pany, provided such by-laws shall not be contrary
to the laws of Maryland or inconsistent with the
provisions of this charter; to determine the man-
ner of employment, to establish the route or routes,
the price of transportation of freight, and the
same to alter and change, and in all respects to
conduct the business of the Company in the best
manner for the interest and advantage of the par-
ties concerned; that the said Board of Directors
shall keep a record of their proceedings, which
shall be subject to the inspection of the majority
of the stockholders, duly represented.

Authority to
appoint Offi-
cers, Agents,
&c.

Sec. 5. And be it enacted, That the President
and Board of Directors shall from time to time de-
clare dividends of the profits realized, if any, by
the Company, or so much thereof as a majority of
them shall deem expedient.

President to
declare divi-
dends.

Sec 6. And be it enacted, That the shares of
stock aforesaid, may be transferred by the owner
or owners thereof, their executors or administra-
tor, or attorney, duly and lawfully authorized,
in a book to be provided for that purpose, and in
such manner as the Directors shall direct.

Stock trans-
ferable.

Sec. 7. And be it enacted, That all the joint
stock property, money and effects of said Company,
shall be answerable for all contracts made by or
for said Company and for all just claims against
the same, and service of legal process on any one
of the Directors, shall be considered sufficient
service on the corporation; the stockholders not to
be answerable in person or property for any con-
tract, debt, or claim against the corporation; that

Stock liable
for the debts of
the Company.