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618
LAWS OF MARYLAND.
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scribe, in person or by attorney, for stock in said
books', which shall be kept open for that purpose
at least four hours in each day, for three successive
days, if necessary, and if the whole of the capital
stock be not then subscribed for, the said Commis-
sioners may re-open said books at such time and
place as they may think fit, under the direction of
said Commissioners, or any of them, for further
subscriptions, from time to time, until the whole
of said stock shall be subscribed for.
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Managers.
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Sec. 3. That when five hundred or more of the
shares of said stock. shall have been subscribed,
the said Commissioners, or a majority of them,
who open said subscription book, shall give thirty
days' notice, in two newspapers published in Fred-
erick, of the time and place appointed by them for
the subscribers to meet, in order to organize said
Company, and to choose by a majority of votes of
said subscribers, by ballot, to be delivered in per-
son or by proxy, duly authorized managers, from
among the stockholders, until the first Monday in
January following, and until their successors shall
be chosen in the manner hereinafter provided ; at
all elections each stockholder shall be entitled to
one vote for each share held by him, not exceed-
ing thirty.
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President.
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Sec. 6. That the said stockholders in said Com-
pany shall, on the first Monday of January, as
specified in Section three, and on the same day in
each year thereafter, elect by ballot, as aforesaid,
for the ensuing year, five managers, as aforesaid,
and the managers of said Company, or a majority
of them, shall have the power to appoint one or
more judges of all elections, and to elect a Presi-
dent of said Company from among the managers
or stockholders of said Company, and to allow
him a compensation for his services, if they shall
deem proper, and if any vacancy shall occur, by
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Fill vacancy.
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death or resignation, or refusal to act, or removal
from the county, of a President or Managers, a
stockholder may be elected by the Managers to fill
the vacancy until the next general election, and
all elections required to be made on any particular
day, if not, made on that day, may be made on
any other day, after thirty days' notice of such
election day in some newspaper in Frederick, and
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