JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 45

ing twenty dollars, as any justice of the peace for said city shall adjudge on a warrant, to be issued in the name of the 'Mayor and City Council of Balti- more, against the president and directors of the said company, and also the sum of five dollars, to be re- covered as aforesaid, for every day they shall neglect; or refuse to do after issuing the first warrant for the recovery of the penalty of twenty dollars as aforesaid.

Penalty.

SEC. 10. And be it enacted, That the said company, when duly organized as hereinbefore provided, shall be entitled to, and may have, hold and exercise all the rights and privileges granted to the Gaslight Company of Baltimore, by the second, third, fourth and fifth sections of the ordinances of the Mayor and City Council of Baltimore, entitled, an ordinance to provide more effectually for lighting the streets, squares, lanes and alleys of the city of Baltimore, approved June seventeenth, eighteen hundred and sixteen, and the act of the General Assembly of December session, eighteen hundred and sixteen, chapter two hundred and fifty-one, so far as the same are not inconsistent with the provisions of this act; and the said company, hereby incorporated, shall be liable to all the duties, restrictions and penalties pro- vided for in said sections of said ordinance and in said act of Assembly.

Rights and privileges.

SEC. 11. And be it enacted, That the president of said company shall, within one mouth after the expi- ration, of each fiscal year, cause an estimate to be made by a joint committee of seven, three stockhol- ders, three consumers and the president, of which the latter shall be chairman, as near as may be of the profits of said company during the preceding fiscal year, in which estimate the losses and expenses of the said company for the year shall be deducted from the earnings of said company, and the income of its capital and invested accumulations during; the

Estimate prof- its.

same year; the balance, shall be deemed the profits of the company for such year, and the estimate shall be binding and conclusive upon all persons as well stockholders as those entitled to receive dividends on bills contracted as hereinafter provided, and all others in any way connected with said company.

Dividends.