THOMAS SWANN, ESQUIRE, GOVERNOR. 165

Eldersburg and the Baltimore and Carroll County line, in Carroll County, and by said name to have succession, and shall be capable in law to have, hold, purchase, possess and enjoy, to them and their successors, lands, tenements, chattels and ef- fects, of what kind, nature or quantity soever, and to borrow money for corporate purposes or uses, not exceeding in the aggregate ten thousand dol- lars, and to mortgage the property of the said Company for that purpose, and do all other acts necessary for carrying into effect the object of this
Act of Assembly, and the same to grant and dis- pose of, to sue and be sued, plead and be im- pleaded, in any Court of Record or any place what- soever ; to make and use a common seal, and the same to alter at pleasure ; and also to ordain, es- tablish and put in execution such by-laws and reg- ulations as shall seem necessary and convenient for the government of the said corporation and the management of its affairs ; provided, the same be not repugnant to the laws and Constitution of the State of Maryland or of the United States.	Sue and be sued.
Sec. 4. And be it enacted. That whenever shares to the extent of at least one-fifth of said capital stock shall have been subscribed, the said Com- pany shall call a general meeting of said subscrib- ers in the city of Westminster, at such place as they may determine, and a majority of those at said meeting shall be empowered to elect a Presi- dent and five Directors, being stockholders, to manage the affairs of the Company for one year, and until a new election shall be held, in the man- ner directed by the by-laws of the Company, and that every subscriber, at all meetings of the Com- pany, shall be entitled to one vote for every share he, she, it or they may own.	One-fifth subscribed.
Sec. 5. And be it enacted, That the said Presi- dent and Directors shall appoint the time and place, and direct the manner of holding the elec- tion for President and Directors, which shall be an- nual, may provide for calling general meetings of the stockholders, the mode of transferring the stock of said Company, and of reasonable proof of owner- ship therein for that purpose, and may have au- thority to fix the amount of toll to be paid by per- sons using or passing along said road ; provided,	Election.