446 LAWS OF MARYLAND.
General meet
ings.
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Sec. 3. And be it enacted. That there shall be
a general meeting of the stockholders of said Cor-
poration on the first Monday in October, in each
and every year, or on such day within sixty days
thereafter and at such place as may be appointed
by the President and Directors for the purpose of
choosing by ballot or otherwise ten members of
said Corporation to be Directors to manage the
affairs thereof for twelve months, and until succes-
sors shall bo chosen; and in all meetings and elec-
tions every stockholder shall be entitled to give in
person or by proxy one vote for each share of capi-
tal stock, standing in his, her or their names on
the books of said Corporation, and until the first
annual election of Directors shall be had, William
H. Steuart, John M. Smith, Philip S. Chappell,
John M. Miller, William T. Bixler, Henry F.
Garey, Daniel L. Thomas, John W. Davis and
William H. Ireland, shall be Directors of said
Corporation and have full powers to Act as such. |
Powers of Di-recting.
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Sec. 4. And be it enacted. That the President
and Directors for the time being or a majority of
them shall have power to elect a President from
their own body to fill the vacancies that may occur
in the Presidency or Directors, to appoint a Trea-
surer and Secretary, and all such clerks, agents
and servants as they may think necessary to con-
duct or execute the business of the said Corpora-
tion, and to fix their compensation and in their
discretion to dismiss them, to take bonds for the
said Corporation from any or all of the persons so
appointed with security conditioned for the faith-
ful execution of the duties of such persons, and to
secure the said Corporation from loss, to construct,
agree for and purchase, rent or hire all such lands,
chattles, materials, rights, privileges and effects
whatever, and to build, make or repair, or cause
to be made and repaired, all such buildings,
wharves, water courses and other properties as
may be necessary for effecting the objects of the
said Corporation, and the same or any part thereof
in their discretion to sell or otherwise dispose of,
to call for monthly or other installments of the
capital stock as they shall deem proper and neces-
sary, giving ten days previous notice in such news-
paper as they shall see fit and proper, to prescribe |
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