share to be called for as the President and Direct-
ors or a majority of them shall direct; provided,
that thirty days notice shall be given in at least
three of the daily newspapers in the city of Balti-
more, and not more than one dollar on each share
shall be called for at any one time, and should any
Stockholder refuse or neglect to pay an instalment
when required, he shall forfeit his interest in this
Company and be held liable for his proportion of
any loss which may have occurred previous to such
refusal or neglect or in consequence thereof.

Sec. 3. And be it enacted, That should any for-
feiture occur it may be remitted by a majority of
the Board of Directors present at any meeting at
which the motion for such remission shall be made
upon the payment by the person incurring a for-
feiture of the principal of such instalment and in-
terest thereon up to the time of said payment.

May remit
forfeitures.

Sec. 4. And be it enacted. That as soon as
twenty-five thousand dollars shall be paid in this
Company shall be competent to transact all kinds
of business for which it is established.

Competent
to transact
business.

Sec. 5. And be it enacted, That the Charter
members herein named shall as soon as practica-
ble after this enactment shall become a law, hold
a meeting and appoint a Commissioner who shall
open books for subscription to the capital stock of
this Company, he shall deliver the said books and
money paid on subscriptions to the Board of Di-
rectors so soon as they are appointed and prepared

Books to be
opened, &c.

to receive the some; provided, that the neglect or
refusal of the Commissioner to open books shall
not invalidate this Charter; and provided further,
that the Charter members may at any time cause
books to be opened for subscriptions to the capital
stock.

Provisos.

Sec. 6. And be it enacted, That the Stockholders
comprising this Company or their representatives
by proxy, shall on the second Monday in January
in each year choose by ballot from among the
Stockholders six Directors to serve tor one year or
until others are chosen, each Stockholder to be en-
titled to one vote for every five shares of stock not
exceeding fifty, and one vote for every ten shares
exceeding fifty, but no person or body politic shall

Directors to
be chosen by
ballot.