364

LAWS OF MARYLAND.

dred shares of said capital stock if within two
years after the opening of the hooks, the said Com-
missioners, or a majority of them, shall call a

General meet-
ing.

general meeting of the subscribers at such time
and place as the said Commissioners may appoint,
and shall give at least ten days notice thereof by
publication in at least one newspaper published in

Publish notice

Carroll County, and one newspaper published in
Frederick County, and at such meeting said Com-
missioners shall lay the subscription books before
the subscribers then and there present, and there-
upon the said subscribers so present, or a majority
of them, shall elect five Directors from the sub-
scribers by ballot, to manage the affairs of said
Company for the ensuing year; and these five Di-
rectors, or a majority of them, shall have power to

Elect Preside't
and Directors,

elect and shall elect a President of said Company
from among the Directors or the subscribers at
large, and may allow such President such compen-
sation as the said Directors or a majority of them
shall deem best, and in said election, and all other
occasions whenever a vote of the subscribers or
shareholders in the Company is to be taken, each
subscriber or shareholder shall be entitled to one

Vote.

vote for each share of stock, and may depute any
other person to vote, or act as his or her proxy,
and that all subscribers and shareholders to the
capital stock of the Liberty Branch Railroad Com-
pany, shall have authority to vote at all elections;
provided, such subscribers or shareholders shall
not be indebted to the Company for any indebted-
ness actually due, on account of any calls upon
their shares at the time of so offering to vote, and
the Commissioners or any three of them shall be
judges of the said first election of Directors.

Sec. 6. And be it enacted, That to continue the
succession of said President and Directors, five
Directors shall be chosen annually from the stock-

Officers, when
chosen.

holders, on the first Wednesday of January in
every year; and the Directors or a majority of
them shall have power to appoint judges of all
elections and to elect a President from the Direc-
tors, or stockholders, at large and allow him such
compensation as the Directors or a majority of
them may deem advisable, and the said President
and Directors may appoint and fix the compensa-