644 LAWS OF MARYLAND. [Ch. 459]

tion 3 of this act, shall file in the office of the State Tax Com-
missioner a certificate or certificates showing the authorization
of the issuing of such increase of such capital stock, or any. part
of such increase which may be issued in sums of not less than
ten thousand dollars ($10,000.00) equivalent to two hundred
(200) shares, and if so ordered or determined upon, signed by
the president, with the corporate seal of said company affixed,
attested by its secretary, shall likewise be filed with said State
Tax Commissioner and the bonus tax shall be paid on the
amount of said increase of said stock as authorized at such spe-
cial meeting or meetings.

SEC. 5. And be it enacted, That Andrew Ramsey, Hazel-
hurst Sprigg, James P. Gaffney, Frank C. Reynolds and George
G. Dixon, be and they are hereby constituted and appointed
directors of said corporation, and they shall have power at any
time after the passage of this act and upon complying with the
provisions of section 4 of this act, to organize by the election of
a president, a vice-president, a secretary and a treasurer, and
such other officers as in their judgment they may deem necessary
for the proper management of the affairs of such corporation,
and the said directors when the said company shall .have been
organized may, and they are hereby authorized and empowered
to have and exercise in the name and on behalf of said company
all the rights and privileges which are hereby conferred on said
body corporate; the said directors may open books and give
notice for receiving subscriptions to the capital stock of said
company, which home or principal office of said company shall
be located in the Town of Westernport, Allegany county, Mary-
land; and all meetings of the stockholders shall be held at the
principal or home office, but the directors may hold meetings
within or without the State as the nature or convenience of their
business may require.

SEC. 6. And be it enacted, That the board of directors and
the president and other officers thus appointed and elected shall
serve until the second Monday in May, nineteen hundred and
thirteen (1913), or until their successors shall have been elec-
ted, and a general meeting of the stockholders shall be held on
the second Monday in May in each year thereafter, at which
meeting a board of not less than five (5) directors, nor, more
than seven (T) directors shall be elected by said stockholders
by ballot to manage the affairs of said company, which directors
shall all be stockholders in said company and have power to
elect a president, a vice-president, secretary and treasurer from
among their number, and the directors so elected shall serve
for one year or until their successors shall be elected; and other