THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

Chew, Charles S. W. Dorsey and the said David

CHAP. 353.

Ridgely, for the whole or such portion of said capital

stock, as they or any three of them shall deem neces-

sary, and at such times and places as they shall desig-

nate, giving at least thirty days' public notice, in one

or more newspapers published daily in the city of Bal-

timore; and each subscriber shall pay to the commis-

sioners at the time of subscribing, the sum of five dol-

lars on each share by him, her or them subscribed;

and any person who shall subscribe, or become the

Instalments

owner of one or more shares of said stock, shall in vir-

tue of such ownership, be a member of the said corpo-

ration, and shall be entitled at all meetings of the stock-

holders, to one vote, in person or by proxy, for each

share of the capital stock which shall be held by such

person, and the shares of the said capital stock shall

he assignable or transferable, and shall be considered

as personal property.

SEC. 4. And be it enacted, That the affairs of the

President and di-

Company shall be managed by a president and six di-

rectors

rectors, who shall be chosen annually by the stock-

holders to serve for one year, and until others shall be

elected, as shall be provided by the stockholders in the

by-laws of the said corporation, and the, said president

Their powers

and directors, or a majority of them, shall have full

power and authority to appoint, employ and compen-

sate, and at their pleasure to remove such officers,

agents or servants, as they may deem necessary in the

business of said company; also to purchase and hold

such real and personal property, materials, vessels,

carriages, machinery, implements, privileges, ease-

ments and franchises, and to cause all such machinery,

buildings or other improvements to be made as they

shall deem necessary to carry into effect the objects of

the said company, and the same or any part thereof to

sell, lease or otherwise dispose of at their discretion,

also to prescribe the mode of issuing and transferring

stock in said company and the evidence thereof, and

generally to do whatever they may judge expedient for

the interests of said company, the same being in con-

formity with the objects of this act, and not contrary

to the laws of this State or of the United States, nor