JAS. BLACK GROOME, ESQUIRE, GOVERNOR

69

subscriptions to shares of the same value as those of

the original stock from time to time, as the same

may be determined upon, provided, however, that

such increase shall not, in the aggregate, exceed the

sum of two hundred thousand dollars.

SEC. 3. And be it enacted, That the persons named

Commission'rs
to receive sub-

in the first section of this act, or a majority of them,

scriptions

be and are hereby, appointed Commissioners to re-

ceive subscriptions to the capital stock of the said

company, and they, or a majority of them, may cause

books to be opened, at such time and place in Balti-

more city or elsewhere, as they may direct, for the

Eurpose of receiving such subscriptions, and may

ecp the same open until the whole number of shares

shall have been taken or subscribed for, and in the

case of new subscriptions, being ordered as author-

ized by the next preceding section for an increase

of the capital stock of the company, the Board of

Directors may, in like manner, open books therefor

and keep the same open until all the shares, so au-

thorized, shall have been taken or subscribed for.

SEC. 4. And be it enacted, That so soon as the pro-

visions of the second section of this act, in regard to

the subscription to the stock of said company, and

the payment upon the same shall have been complied

with, it shall be the duty of the persons acting as

Commissioners, as aforesaid, to give reasonable no-

tice to each one of those having so subscribed of a

Elect directors

time and place of meeting, in the City of Baltimore,

at which the said subscribers shall choose by ballot

five members, of said corporation, to be Directors

thereof, who for twelve months, and until their suc-

cessors shall be chosen, shall manage, direct, and

control the affairs of said corporation, in accordance

with the provisions of this act, and the by-laws made

and adopted by said corporation, and on the same

day, in each succeeding year, shall the like election

be made; and in all general meetings of said com-

pany, and election of directors and officers, and in

the determination of all questions, as to the man-

Management.

agement and policy of said company, every stock-

holder shall be entitled to give, in person or by proxy,

one vote for each share of the capital stock

standing in his or her name, on the books of said