PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 449

company; and any two offices except those of president and vice-
president may be filled by the same person; and that until such,
choice of a board of directors, the said Emory S. West, Henry
M. Speicher, James P. Gaffney, Andrew Ramsay and Hewitt
Reynolds, or. a majority of them, shall have full power and
authority to exercise all of the corporate powers of said cor-
poration; and the president of said company, with the con-
sent of the board of directors, or a majority of them, shall have
full power and authority to appoint, employ and compensate,
and at its discretion to remove such officers, agents or servants
as he may deem necessary for the proper transaction of the
business of said corporation; and in case a vacancy shall occur
in the presidency or directorship of said corporation, the remain-
ing directors shall have power to fill such vacancy or vacancies
by appointing some stockholder to such office, with power to
hold the same until the next annual meeting of the stockholders
for the choice of directors.

SEC. 7. And be it enacted, That said corporation is further
authorized to borrow money for the development of its mining
and other properties, and all interests and estates whatsoever,
and to issue coupon bonds and debentures, and to secure the
same by pledges, deeds of trust or mortgages upon the whole
or any part of the property held by said corporation, and to
sell or pledge such bonds or debentures for its corporate pur-
poses as and when the board of directors shall determine; pro-
vided, however, that no mortgage or other lien shall be created
by the corporation unless there shall first be obtained the con-
sent in writing of the holders of seventy-five per cent. (75%)
of the capital stock of the corporation outstanding at the time.

SEC. 8. And be it enacted, That the stockholders of said
company, representing seventy-five per cent. (75%) of the cap-
ital stock issued and outstanding, by and with the approval
of its board of directors, may change the corporate name of
said company to such other corporate name as they may select,
or may change the place and location of the home or prin-
cipal office; provided, however, before making either of such
changes or both, the said stockholders shall give ten (10) days'
notice by publication in some newspaper published in Garrett
county, Maryland, of such proposed change or changes and the
time and place of holding the general or special meeting of
the stockholders for that purpose, at which the same shall be
considered, and upon making such change or changes, a certifi-
cate showing the proceedings had under this section, signed
by the president and secretary of said company, with their
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