822

LAWS OF MARYLAND.

stockholders (each share of stock shall represent one vote),

one of whom shall be elected president; and the said directors

shall have power at any time after the passage of this Act

to organize by the election of a president and other neces-

sary officers for the proper management of the affairs of

said company; that the president and officers thus appointed

and elected shall serve for one year after the date of their

election, or until the election and qualification of their suc-

cessors, and the directors thereafter shall be elected by a ma-

jority vote (in value) of the stockholders annually, and shall

serve for a term of one year; and an annual election for di-

rectors and officers of said company shall be held on the first

Monday of January in each year; and if any of the said

directors shall die, resign or refuse to act, or in any manner

become disqualified during the term for which they are elected,

his successor shall be elected by a majority of the remaining

directors ; and each stockholder shall have or be allowed one

vote for every share of stock owned by him, her or them,

and may vote the same in person or by proxy ; such by-laws

as may be found necessary may be made and adopted by

the board of directors; providing, however, that the same are

not contrary to law, nor to the object and purpose of said

Proviso.

for the affairs of the company, appointments, pay and duties

of the president and necessary subordinate officers, and the

time, place and notice for the holding of the annual meetings

of the stockholders, and all regulations for the election of

directors.

SEC. 5. And be it enacted, That the said company shall have

Right to build

power to construct, equip and operate in any manner a railroad

a railroad.

impelled by electricity or steam, or both, or any other motive

power desired by said president and directors ; passenger or

freight traffic can be impelled by electricity generated by

water power or other sources of power that are now in use

or may hereafter be known and found practical, from the City

of Washington to the City of Gettysburg, Pennsylvania, and

the power is hereby given said company to build the whole or

any part of said railroad, and in sections most convenient to

the president and directors of said company, with like powers

to construct lateral branches extending in any direction or to

any point whatsoever in connection with said railroad, through

the counties bordering on the Mason and Dixon line, between

Washington County on the west and the Susquehanna river

on the east, also Howard, Montgomery and Prince George's

Counties, as the president and directors may deem necessary

and advisable in engineering and laying out, and the building