company, at some public place or places in the
city of Baltimore, of which public notice shall be
given for ten days in three daily papers, and shall
keep the same open for thirty days, or longer, in
their discretion, and shall deliver the money paid
on the subscription to the Board of Directors so
soon as they shall be appointed and prepared to
receive the same.

Sec. 7. And be it enacted. That the stockholders
composing this company or their representatives
by proxy shall, on the first Monday in January
next succeeding the period at which the organiza-
tion shall have been completed, and in each and
every year thereafter, choose by ballot, from
among the stockholders such number of Directors
as may be fixed by the Board of Directors to serve
for one year, and until others are chosen; each
stockholder to be entitled to one vote for every five
shares of stock not exceeding fifty shares, one vote
for every ten shares exceeding fifty, but no person
or body politic shall have in any instance more
than twenty votes: at their first meeting after
every election, they shall choose by ballot a Presi-
dent either from among their own body or from
among the other stockholders, and in case of the
resignation, death or disqualification of the Presi-
dent or a Director, the Directors shall proceed to
elect another to fill such vacancy for the remain-
der of the year.

Election of
Directors.

Sec. 8. And be it enacted, That should it so hap-
pen, from any cause whatsoever, that the annual
election of Directors should not take place in any
one year on the day mentioned for that purpose,
this company shall not for that reason be dis-
solved, but such election may lawfully be held on
such convenient day thereafter as may for that
purpose be fixed by the Directors within sixty
days thereafter, they causing ten days' notice to
be given in two or more of the daily papers pub-
lished in the city of Baltimore.

In case an
election be not
held.

Sec. 9. And be it enacted, That the Board of
Directors shall be and they are hereby authorized
to make all kinds of Insurance against fire, also to
make re-insurance upon all or any of the risks
taken by them, and generally to transact and per-
form all business relative to the objects aforesaid,

Authority to
make insur-
ances.