upon giving thirty days previous notice in the
manner described in section three.

Sec. 8. And be it enacted, That the said Presi-
dent and Directors or a majority of them may
appoint all such officers, superintendents, agents,
or servants whatsoever as they may deem prudent,
for the transaction of the business of said Com-
pany, and may remove at their pleasure all such
officers, and said President and Directors, or a
majority of them, shall have power to determine
by contract the compensation of all such officers
in the employment of said Company, and to deter-
mine the manner of adjusting and settling all
accounts against said Company and also the man-
ner and evidence of the transfer of shares, and
they or a majority of them shall have power to
pass all by-laws which they deem necessary or
proper for exercising all the power vested in the
Company, hereby incorporated, for carrying into

May appoint
Officers, &c.

effect the object of this Act; provided only, that
such by-laws shall not be contrary to the laws of
the United States, the State of Maryland, or any
of the provisions of this Act.

Proviso.

Sec. 9. And be it enacted. That at the regular
annual meeting of the stockholders of said com-
pany it shall be the duty of the president and
directors in office for the preceding year to exhibit
aclear and distinct statement of the affairs of the
company, that at any called meeting of the stock-
holders, a majority of those present may require
similar statements from the president and directors,
whose duty it shall be to furnish them when thus
required, and at all general meetings of the stock-
holders, a majority in value of all the stock in
said company may remove from office any president
or any of the directors of said company and may
appoint others in their stead.

Statement of
affairs.

Sec. 10. And be it enacted. That if the capital
stock of the company shall be deemed insufficient
for the purposes of this Act, then and in that case
it shall be lawful for the President and Directors
of the Company or a majority of them, from time
to time to increase the said capital stock by the
addition of so many shares as they may deem ne-
cessary, not exceeding twenty thousand, for which

Capital stock
may be increas-
ed.