Capital stock.

Sec. 2. And be it enacted, That the capital stock
of said company shall consist of four thousand
shares of twenty-five dollars each, which may from
time to time be increased by said company until
the whole number of shares of twenty-five dollars
each shall be eight thousand.

Books to be
opened.

Sec. 3. And be it enacted, That books of sub-
scription to the capital stock of said company
shall be opened at such time or times and at
such place or places as the said corporation may
designate, under the supervision of any two

Proviso.

or more of them; provided, that public notice of
the time and place of opening such books for sub-
scription shall be given at least three weeks before
the time fixed therefor in some newspaper printed
in the city of Baltimore.

May pay in
Real Estate,
&c.

Sec. 4. And be it further enacted, That any person
or persons subscribing for any part of the capital
stock of said company shall be authorized to pay
for the same or a part thereof by a conveyance or
transfer to said company of any real or personal
estate necessary or useful in carrying on the busi-
of said company, or by transfer or assignment of
any invention or patent right necessary or useful
in carrying on the operations or business of said
company at such price or prices as may be agreed
upon between such subscriber or subscribers, and
the President and Directors of said company, or a
majority of them.

Power to
call a General
Meeting.

Sec. 5. And be it further enacted. That as soon
as two thousand shares of the capital stock of said
company shall be subscribed for the said corpo-
rators shall have power to call a general meeting
of the stockholders at such time and place as they
shall appoint, upon giving not less than twenty
days notice thereof in some newspaper printed in
the city of Baltimore, at which meeting the said
stockholders shall elect a President and five Di-
rectors to manage the affairs of said company, to
serve for one year and until others shall be elected in
their places; at all meetings the stockholders shall
be entitled to one vote for each share of stock held
by him, and may vote the same either in person
or by proxy, and in any and every meeting of the
stockholders a quorum for the transaction of busi-
ness shall be constituted by a major part of the