'what kind, nature or quantity soever, and to borrow
money for corporate purposes or uses, not exceeding
in the aggregate ten thousand dollars, and to mort-
gage the property of the said company for that pur-
pose, and do all other acts necessary for carrying
into effect the object of this Act of Assembly, and
the same to grant and dispose of, to sue and be) be sued,
plead and be impleaded, in any Court of record, or
any place whatsoever, to make and use a common
seal, and the same to alter at pleasure, and also to
ordain, establish, and put in execution such by-laws
and regulations as shall seem necessary and conve-
nient for the government of the said corporation and
the management of its affairs; prodded the same be
not repugnant to the laws and Constitution of the
State of Maryland or of the United States.
SEC. 4. And be it enacted, That whenever shares to
the extent of at least one-fifth of said capital stock
shall have been subscribed, the said company shall
call a general meeting of said subscribers in the City
of Westminster at such place as they may determine,
and a majority of those at said meeting shall lie em-
powered to elect a President and seven Directors, being
stockholders, to manage the affairs of the company for
one year and until anew election shall be held, in the
manner directed by the by-laws of the company and
that every subscriber, at all meetings the company,
shall he entitled to one vote for every share he, she,
it or they may own.
SEC. 5. And be it enacted, That the said President
and Directors shall appoint the time and place and
direct the manner of holding the election for Presi-
dent and Directors which shall be annual, may
provide for calling general meetings of the stock-
holders, the mode of transferring the stock of said
company, and of reasonable proof of ownership
therein for that purpose, and may have authority to
fix the amount of toll to be paid by persons using or
passing along said road; not exceeding two cents per
mile for each and every mile traveled on said road,
by each and every horse, head of cattle, chaise,
wagon, carriage, buggy, &c.
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Proviso
Call a gener'l
meeting
Majority may
elect Presid't
and Directors
Duties of
President and
Directors.
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