business by retails, at Franklin Mines and Barton,
in Allegany County, the stock to consist of dry
goods, hardware, groceries, provisions, queensware,
and such articles are usually kept for sale in a retail
store, and as the wants of its customers may require,
and shall have all rights and powers to do all acts
and make all contracts necessary or convenient for
conducting said business, and to make such by-
laws and regulations for the management of its
business as it may from time to time deem expedi-
ent, not inconsistent with the laws of this State or
of the United States,

Capital stock.

Sec. 3. And be it enacted, That the capital stock
of said corporation shall not exceed forty thousand
dollars, to be divided into shares of ten dollars,
which shall be personal property, and transfera-
ble only as the said corporation in its by-laws may
prescribe, and no person shall subscribe for or hold
in his or her own name or the name of another,
more than ten shares of said stock, and every sub-
scriber to the stock shall pay, at the time of sub-
scribing, the full sum of ten dollars for each share
subscribed to said commissioners, who are author-
ized to receive said payments for stock in money,
merchandize or other property suitable for the
business of said corporation, the value of property
so received in payment to be fixed at the time by
said commissioners or a majority of them.

General meet-
ing.

Sec. 4. And be it enacted, That so soon as five
hundred shares of said stock are subscribed, the
said commissioners or a majority of them shall
call a general meeting of the subscribers, at such
time and place as they may appoint, and after
such notice as they may deem expedient, and the
subscribers present at such meeting, or a majority
of them, shall elect seven Directors, who shall be
stockholders in said corporation, and the Directors
so chosen shall elect one of their number to serve
as President; and in said election for President
and Directors and all future elections, each stock-
holder shall have but one vote, without reference
to the number of shares of stock held by each, and
the said President and Directors shall serve until
the first Monday in January succeeding their
election, and until their successors shall be elected,
and annually on the first Monday in January of