'additional issue of stock a preferred stock; and to
issue the bonds of the said company, in addition to
those now authorized, to an amount not exceeding
the sum of six hundred thousand dollars, and to
secure the payment of the principal and interest of
the same, by a mortgage or mortgages, from time to
time, upon the road and other property of said com-
pany, acquired and to be thereafter acquired, and
upon its net revenue and tolls, and purchases, and the
said company is further authorized and empowered,
at any time hereafter, to accept releases of the whole
or any part of any mortgage issued, or to be here-
after issued by it, and from time to time, to get in
the whole or any part of any bonds issued by it, and
issue new bonds or other obligations in lion thereof,
and to secure the same by mortgage or mortgages
as aforesaid.
SEC. 2. And be it enacted, That the affairs of the
said company shall be managed by a President and
Board of Directors, and such other officers and agents
as such Board of President and Directors shall deem
best; that there shall he two directors on the part of
the City of Baltimore, appointed as hereinafter mentioned, four directors elected by the stockholders
and subscribers to the stock, and from three to seven
'directors, to represent any corporation or corpora-
tions, person or persons, other than the Mayor and
City Council of Baltimore, who may be, and may
become endorsers or guarantors of the bonds of the
said company, so that the Board of Directors shall
consist of nine members, with the right of the en-
dorsers of the bonds of the said company, other than
the said. Mayor and City Council of Baltimore, to
increase the number of directors to any number, not
exceeding thirteen by the choice of the directors, to
represent them, not exceeding seven in the whole,
and such authority to increase the number of directors:
may be exercised at any annual election, and the'
.board may be diminished at any annual election'
thereafter, and again increased, in manner before
stated.
SEC. 3. And be it enacted, That immediately after the:
acceptance of the provisions of this Act by the stock-:
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Preferred
stock.
Accept re-
leases.
Management
of affairs.
Number of
Directors
May be in-
creased or
diminished.
Directors on
part of Balti-
more city.
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