536
Shares, how
to be voted.
Elect Presi-
dent.
Power and
authority.
Vacancies.
May agree
with owner.
Disagreem'nt
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LAWS OF MARYLAND.
elected and. qualified, and to conduct and manage
the affairs and business of said corporation; and said'
stockholders shall each be entitled to one vote for
each share they shall have and hold at the time of
said election, and such election shall be made by
each of the stockholders as shall attend said general
meeting, either in person or by proxy; and the
directors of said corporation, except for the first year,
shall be annually elected, and at each time and place as shall be directed by the by-laws of said corporation.
Sue. 5. Be it further enacted. That the Directors so-
elected shall, as soon after their election as practica-
ble, elect one of their number President of said cor-
poration; and the said President and Directors, or
their successors in office, or a majority of them
assembled, shall have full power and authority to
appoint, and at their pleasure dismiss such Clerk,
Treasurer, Engineer or Engineers, and such other-
agents as they may deem expedient, and to fix their
compensation, and to agree with any person or per-
sons, on behalf of the said company, to cut said
canal, erect dams, open feeders, make cuts, construct
locks and such other works as they shall judge'
necessary or expedient for completing said canal,
and to repair and keep the same in order.
SEC. 6. Be it enacted. That when any vacancy or van-
cies shall occur in the Board of Directors of said
company by death, resignation or otherwise, the re-
maining directors shall choose others in their stead
from the stockholders of said company, who shall
continue in office until the next general election of
directors.
SEC. 7. Be it enacted. That the said President and'
Directors, or their agent or agents authorized by
them, may agree with the owner or owners of any
land, earth, gravel, stone, timber, materials, streams,,
or any improvements which may be wanted for the-
proper construction or repair of said canal, or any
of its works, for the purchase and use and occupa-
tion or devirsion of the same; and if they cannot
agree, or if the owner or owners of any of them be
an infant, feme covert, who is not possessed of the prop-
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