664

LAWS OF MARYLAND.

them, and on receiving the subscriptions and pay-
ments above provided, they or a majority of them
shall call a meeting of the stockholders, who,
when so met in person or by proxy, shall choose

President and
Directors.

from among themselves a President and six Direc-
tors, who shall serve for one year from their said
election, and at all such elections the persons
being stockholders having a majority of all the
votes cast shall be elected; and the said President
and Directors so organized and their successors
shall by their by-laws regulate the time and man-
ner of holding their elections, provide for filling
vacancies caused by death, resignation or other-
wise, but no omission to elect at the period ap-

Hold over.

pointed shall operate as a dissolution of this cor-
poration; and the said President and Directors
and their successors shall have and exercise all the
powers, privileges and franchises hereby conferred
on and granted to the said corporation.

Appoint offi-
cers.

Sec. 5. And be it enacted, That the said Presi-
dent and Directors or a majority of them, may
appoint all such officers, engineers, agents or ser-
vants whatsoever, as they may deem necessary for
the transaction of the business of said Company,
and may remove them at their pleasure; and they
or a majority of them shall have power to deter-

Compensation

mine by contract the compensation of all sucii offi-
cers, agents and servants in the employ of said
Company, to determine the manner of adjusting
and settling all accounts against said Company,
the manner of issuing and transferring and evi-
dencing the transfer of stock in said Company;

and they or a majority of them shall have power
to make, alter and amend all by-laws which they
may deem necessary for exercising all the powers
vested in said Company, and for carrying oxit the
objects of this Act; provided, that such by-laws
shall not be contrary to the laws of the State of
Maryland or to any of the provisions of this Act.

Width of
roak.

Sec. 6. And be it enacted, That the said Com-
pany shall have power to construct said Railroad,
and acquire therefor a roadbed or space not exceed-
ing eighty feet in width, with one or more sets of
tracks, and shall have power to extend the same
within the limits of Harford County as far as they
shall deem advisable, and for the laying out and