70
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LAWS OF MARYLAND.
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1S3O.
CHAP. 71.
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tracts of land in Baltimore county, on which the cotton fac-
tory a foresaid, and other buildings, are erected, and it is
contemplated anil intended that the said lands, factory and
improvements, shall constitute a part of the capita! stock
of said company, at the estimated value of eighty thousand
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Property may
be conveyed.{
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dollars; therefore, Be it enacted. That on the execution
of a sufficient deed by the said Columbus O'Donnell, John.
Merryman, John. S. Gittings, and Frederick Dawson, a-
greeahly to the laws of this state, conveying to the War-
ren Manufacturing Company, the lands, factory and im-
provements aforesaid, with the privileges and appurtenan-
ces thereto belonging, in pursuance of this act, they shall
thereupon be entitled to, and invested with, shares of stock
in the said company to the amount of the said sum of
eighty thousand dollars, in the following proportions and
numbers in severally; .that is to say, the said Columbus
O'Donnell twelve hundred shares, John Merryman six
hundred shares, John S. Gittings six hundred shares, and
Frederick Dnwson eight hundred shares; and each of the
said persons shall have full power, as any other stockhold-
er, to sell, demise, or otherwise dispose of, all or any of
the shares with which he or they shall be so invested, and
on bring divested by transfer, or otherwise, of all his or
their shares of stock, shall in like manner cease to be a
stockholder or stockholders.
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Subscriptions.
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.Sec. 5. And be it enacted, That the said Columbus O'Don-
nell, John Merryman, John S. Gittings, and Frederick
Dawson, or such one of them a.s the others shall authorise
for that purpose, shall or may receive subscriptions and
payment for so many shares of the stock of said company,
in addition to the number to which thev shall be entitled
as aforesaid, as they may deem necessary, not exceeding
the limited amount of capital aforesaid; and the amount so
subscribed for and. received, shall be applied as part of the
capital to the use of said company.
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Meetings —
president and
directors.
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Sec. 6. And he it enacted, That there shall be a meet-
ing of the stockholders of said company annually, on the
first Monday in February or within thirty days thereafter,
for the purpose of electing a president and six directors to
manage all the concerns of the company; and the stock-
holders, for the time being, shall vote by ballot, in person
or by proxy; each shall be entitled to one vote; and a
majority of the whole number of votes given shall be ne-
cessary and sufficient to elect the president and directors;
and any two disinterested persons appointed by the board
of directors, or a majority of them, shall receive the votes,
and be judges of the election; and if from any cause the e-
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