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896
LAWS OF MARYLAND.
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Hold necessa-
wharves, &c.
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Sec. 2. And be it further enacted, That the ob-
ject of said Company is the transportation of pas-
sengers and freight across the Susquehanna River,
from Havre de Grace to Perryville, in Cecil Coun-
ty, and for such object the said corporation is
hereby authorized to rent, purchase and hold all
necessary wharves, buildings, materials, boats,
&c., which may be deemed necessary for the trans-
portation aforesaid.
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President and
directors.
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Sec. 3. And be it further enacted, That the
stockholders in said Company shall annually elect
five Directors, one of whom shall be selected as
President by the Directors at their first meeting
after such election, and the said President and
Directors are hereby authorized and empowered to
manage the business of said Company, to make
rules, regulations and by-laws for the conduction
of its affairs, to appoint all officers and agents for
the management of its business, and to fix their
compensation, to make contracts, and to regulate
the salary of the President aforesaid, as to them
may seem expedient.
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Capital stock.
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Sec. 4. And be it further enacted, That the capi-
tal stock of said Company shall not exceed the
sum of twenty thousand dollars, and the shares
shall be one hundred dollars each, and for the
purpose of obtaining them the said corporators
or any two of them are hereby appointed Commis-
sioners, and authorized to receive subscriptions
and payments for the shares of the capital stock
in said Company, and so soon as fifty shares shall
have been subscribed for and the money for the
game paid in, the said Company may commence
operations, and the said Commissioners shall act
as Directors of said Company, with Jesse Hillis as
President from the time of going into operation,
for the space of six months, when a meeting of
the stockholders shall be called after due notice for
the election of Directors to serve for the term of
twelve months from the time of their election and
until their successors are elected and qualified.
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Charge tolls.
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Sec. 5. And be it further enacted, That it shall
and may be lawful for the said Company to demand
and receive tolls not exceeding the following rates :
For each two-wheel vehicle drawn by two horses,
oxen or mules, the sum of one dollar and fifty
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