WILLIAM T. HAMILTON, ESQUIRE, GOVERNOR. 125

	mortgage bonds, and by surrender of the said second
	mortgage bonds, as provided in the preceding sec-
	tion, and shall not be required to pay any sum in
	cash on such subscription when such coupons or
	bonds are presented in payment therefor, as afore-
	said, in sums of twenty-live dollars or any multiple
	thereof, and when such coupons and bonds are sur-
	rendered, as aforesaid, the same shall be immediate-	Boncls to be
	ly cancelled, and shall thereafter cease to have any	cancelled.
	force or effect in law for any purpose whatsoever,
	and the interest coupons of the said second mort-
	gage bonds, whether presented for cancellation or
	not, shall, after the surrender of the bonds to which
	they appertain or were originally attached, be of
	no force or effect in law for any purpose whatsoever.
	SEC. 4. And be it enacted, That as soon as may
	be convenient after the passage of this act, the in-
	corporators named in the certificate of incorporation
	of the said Eastern Shore Railroad Company, as re-
	organized, or a majority of them, shall be authoriz-
	ed to meet and appoint three or more of their num-	Open books
	ber to open books for receiving subscriptions to the	for subscrip-
	capital stock of said company, at such time and	tion.
	place and upon such notice as said incorporators, or
	a majority of them, may determine by resolution,
	and they may also appoint one person to receive in
	payment for said shares of stock so subscribed, said
	overdue coupons of the said first mortgage bonds,
	and to receive the said second mortgage bonds when
	surrendered, as aforesaid, and to give receipts there-
	for to the persons so surrendering the same, which
	said receipts shall be good in payment for the stock
	so subscribed according to the provisions of this
	act; and as soon as the whole or more than half of
	the said capital stock shall have been subscribed and	Capital stock
	paid for, as hereinbefore provided, the said incorpor-
	ators, so appointed to open said books of subscrip-
	tion, shall immediately call a meeting of the sub-
	scribers to said capital stock to elect thirteen direct-	Elect direc-
	ors of the said company, to serve as such until the	tors.
	next annual meeting of the said stockholders, and
	until their successors shall have been duly elected
	and qualified, which annual meeting shall be held
	on the second Tuesday in March, in each year, and
	at such meeting and at all future stockholders' ineet-