42

LAWS OF MARYLAND.

Paym't at the
time of sub-
scribing.

SEC. 4. And be. it enacted, That upon every subscrip-
tion to said stock, there shall be paid at the time of
subscribing to the said corporators or to their agents,
the sum of two dollars on every share subscribed,
and the residue shall be paid in such instalments,
and at such times as the president and directors of
said company shall prescribe and require; and if any

Instalment.

subscriber shall neglect to pay any instalment for
the space of thirty days after the same shall be due
and payable, the stock 911 which it is due and deman-
ded shall, at the discretion of said president and
directors, be forfeited to the company. Provided,
nevertheless, that nothing herein contained shall be
construed to prevent said president and directors
from suing for and recovering such unpaid instal-
ments in like manner as other debts and other claims
are recoverable by law.

General meet-
ing.

SEC. 5. And be it enacted, That there shall be a gen-
eral meeting of the stockholders on the first Tuesday
in April in each and every year, for the purpose of
choosing by ballot or otherwise, twelve members of
said corporation, to be and constitute a board of
directors, to manage the affairs thereof for one year
succeeding their said election or until their successors
shall be chosen; and in all meetings every stock-

Voting.

holder shall be entitled to give in person or by proxy
one vote for each share of capital stock standing in
his, her or their name on the books of said corpora-
tion, provided said stockholder is not in arrears in
the payments to be made on said stock hereinbefore
provided for; and until the first election for directors
as herein provided for, George M. Bokee, Thomas
H. Hanson, Louis Seldner, S. Bernei, Richard H.
Snowden, William E. Banks, Joseph G. Loane,
Daniel Donnelly. Joseph J. Clarke, Thomas Hunt,
James A. Bruce, Emanuel Hess and J. W. Guest,
shall be the directors of said corporation, with full
power and authority to act as such.

Give public
notice.

SEC. 6. And be it enacted, That as soon as. twenty
, thousand shares of said capital stock shall have been
subscribed, the said corporation or a majority of
them shall give ten days public notice of the time
and place, in the city of Baltimore, of holding an