424

LAWS OF MARYLAND.

Election,	Company, and .that in said election the stockholders may vote in person or by proxy according to the number of shares held, and the Commissioners aforesaid, or three or more of them, shall be Judges of the first election of Directors, and any stockhold- er shall be eligible as President and Director, and the said Commissioner shall deliver over the ori- ginal subscription to the President and Directors immediately after their election.
Pirectors. President,	Sec. 6. And be it enacted, That to continue the succession of the President and Directors of said Company, seven Directors shall be chosen annu- ally, after notice aforesaid, on the second Monday in January in every year by the stockholders of said Company, and the Directors, or a majority of them, shall have power to appoint Judges of election, and elect a President of said Company from among the Directors, and allow him such compensation for his services as they may deem proper ; and if any vacancy shall occur from death, resignation or refusal to act of the Presi- dent or any of the Directors of said Company, the President and Directors, or a majority of them, shall elect some person or persons to serve until the next annual election for the said President and Directors, and that all elections that are by this Act, or by the laws of the said Company, to be made on a particular day, may be legally made at any time within sixty days thereafter after notice aforesaid.
General meet- ing	Sec. 7. And be it enacted, That a general meet- ing of the stockholders may be called at anytime upon giving thirty days' notice in the manner di- rected in Section third of this Act, provided that a majority of the stockholders holding a majority of the capital stock of said Company shall be re- quired to transact business in such meeting of stockholders.
Officers.	Sec. 8. And be it enacted, That the said Presi- dent and Directors, or a majority of them, may ap- point all such officers, engineers, agents or ser- vants whatsoever, as they may deem necessary for the transaction of the business of the Company, and they may remove them at their pleasure ; and they, or a majority of them, shall have power to determine by contract the compensation of all