1833.

LAWS OF MARYLAND.

CHAP. 214.

such times and places as they, or a majority of them shall
think proper, until the managers of the company are elect-
ed in the manner hereinafter mentioned, unless in the
meantime the capital stock often thousand dollars be sub-
scribed for.

Subscription au-
thored

Sec. 3. And beit enacted, That it shall and may be law-
ful for any incorporation or body politic in the state of
Maryland, or any of the United States, or of the District of
Columbia to become stockholders in the said company, and
to hold stock therein.

General meeting
organization

Sec. 4. And, be it enacted, That when the said three hun-
dred shares of said stock shall have been subscribed for,
the company aforesaid, or a majority of them, shall give
twenty days public notice, in one or more newspapers print-
ed in Hagerstown or Williamsport, of the time and place, to
be designated by them, for the subscribers to meet, for the
purpose of organizing said corporation, choosing by a plu-
rality of votes, by ballot, a president and five managers,
(three of whom shall be a quorum,) a treasurer, and such
other officers as they shall deem necessary for conducting
the affairs of said company, until the first Monday in May
thereafter, and until a new election, and for making such
by-laws, rules, orders and regulations as do not contravene
the constitution and laws of this state, or of the United
States, and may be necessary for the well governing the
affairs of said company; and that at such meeting for elec-
tion or in determining any question arising at such meet-
ing, and in any election, and in determining any question
arising at any subsequent meeting, every person, or body

Votes rated

politic, holding shares, shall be entitled to vote as follows:
that is to say, for every share so held not exceeding three,
one vote each; for any number of shares greater than three
and not exceeding ten, five votes; for any number of shares
greater than ten, and not exceeding fifty, seven votes; and
for any number of shares greater than fifty, and not exceed-
ing one hundred, ten votes; and for every additional hun-
dred shares above one hundred, ten votes: Provided, that
no person or body politic shall have more than thirty votes,
whatever number of shares he, she, it or they may be enti-
tled to.

Annual Meeting—
elections &c.

Sec. 5. And be it enacted, That after the first meeting
of the stockholders shall have been held as heretofore men-
tioned, there shall be a meeting of the stockholders in the
said company, in Clear Spring, on the first Monday of
May in each and every year, or within two days thereafter,