THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835

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

CHAP. 365.

formity with the objects of this act, and not contrary

By-laws

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

to any by-law adopted at a general meeting of the

stockholders of the said company; and a quorum for

the transaction of business shall consist of the presi-

dent and a majority of the directors; and in case of

' Vacancies

any vacancy occurring in the presidency or directory

of the company, the remaning directors shall have

power to fill the vacancy by appointing some stockhol-

der to serve therein until the Next general ejection

thereafter.

SEC. 5. And be it enacted, That a general meeting

General meetings

of the stockholders shall he held on or before first

Monday of next July, and annually thereafter, at such

time and place as shall he established by the by-laws, to

which it shall be the duty of the president and directors

Annual reports

aforesaid to make report of the whole condition of the bu-

siness and affairs of the said company, and special meet-

Special meetings

ings of the stockholders may be culled at any time by the

president and directors of said company, or by .stock-

holders thereof who shall together be proprietors of

not less than one fifth part of the whole stock of said

company, first giving ten days' public notice, in one

or more newspapers published in the town of Cumber-

land and in the cities of Baltimore and Washington,

of the object or objects of said meeting; and in any

Quorum

and every meeting of the stockholders, a quorum for

the transaction of any business, other than the election

of president and directors, shall consist of the owners

and representatives of at least the major part of the

capital stock of the company, and every such meeting

Powers conferred

shall have power to pass, amend, alter and repeal by-

laws or resolutions which shall be binding on the pre-

sident and directors, officers, agents and servants of

the company, the same not being contrary to law, and

shall also have power to require settlements, state-

ments and accounts, relating to the business and deal-

ings of said company, general or particular; and may

also dismiss any president, director, officer, agent or

servant at pleasure, and appoint others in their stead.

83