566 CORPORATIONS. [ART. 23

member of such corporation, at his usual place of residence, at
least three successive weeks previous to the day fixed for the
holding of such meeting. The said notice shall specify the
object of the meeting, the time and place where such meeting
shall be held, and the amount to which it shall be proposed to
increase or diminish the capital.
Heller v. Marine Bank, 89 Md. 620.

1888, art. 23, sec. 77. 1868, ch. 471, sec. 72.

85. If at any time and place specified in said notice, stock-
holders shall appear in person or by proxy, in number repre-
senting not less than two-thirds of all the shares of stock of
the corporation, the said stockholders or the said members, as
the case may be, shall organize by choosing one of the trustees,
directors or managers, chairman of the meeting, and also a suit-
able person for secretary, and proceed to a vote of those present,
.in person or by proxy, and the vote of at least two-thirds of all
the shares of the stock shall be necessary to an increase or
diminution of the amount of its capital stock.

Ibid. sec. 78 1868, ch. 471, sec. 73.

86. If, on canvassing the votes, it shall appear that a suffi-
cient number of votes has been given in favor of increasing or
diminishing the amount of capital of said corporation, a cer-
tificate of the proceedings showing a compliance herewith, the
amount of capital actually paid in, and the amount to which
the capitol stock shall be increased or diminished, shall be
made out and signed by the chairman, and such certificate
shall be sworn to by the president, and recorded in the office
of the clerk of the superior court of Baltimore city, if the
principal'office of said corporation shall be therein located, or
in the office of the clerk of the circuit court for that county in
which said principal office is located.

Ibid. sec. 79. 1870, ch. 310.

87. Where the par value of the stock of any corporation
created under the general laws of the State of Maryland has
been, or may hereafter be, reduced by losses, it shall be com-
petent for the stockholders thereof, in general meeting
assembled, to establish the true value of the stock of such
corporation; and they may also provide for calling in and can-
celling the whole or any part of such stock, and issuing other
stock instead thereof, at such par value as they may decide on,