the Philadelphia, Wilmington and Baltimore
Railroad Company for similar purposes.

Sec. 9. And be it enacted. That at the time se-
lected by a majority of the stockholders for organ-
izing they shall elect a President and five Direc-
tors for the transaction of their business, and their
officers shall elect a secretary and treasurer at
each time as they shall elect who shall hold their
offices, until their successsors be duly elected, ap-
pointed and qualified.

Election of
President and
Directors.

Sec. 10. And be it enacted, That the said rail-
way shall be commenced within one year after the
passage of this Act, and be open for use within
five years thereafter, otherwise the powers hereby
granted shall revert to the State.

Limitation.

Sec. 11. And be it enacted, That the said cor-
poration may issue bonds of said company, with
coupons attached, for sum or sums as they may
deem advisable, not exceeding the amount of one-
fourth of their capital, and payable at such time
and on such terms as the Directors may deem ad-
visable.

May issue
bonds.

Sec. 12. And be it enacted. That any five of the
persons herein named shall be competent to call a
meeting of the corporation, and when met, to
regulate the time and manner of opening subscrip-
tion to the stock of said company, and any vacancy
occurring in the Board, by death or otherwise,
may be filled by the remaining corporators.

Quorom.

Sec. 13. And be it enacted. That this Act shall
take effect from the date of its passage, and the
General Assembly reserves to itself the right to
alter, amend or repeal this Act at pleasure.

Inforce and
reservation.