18

LAWS OF MARYLAND.

they may appoint ; at such first meeting and at all

other meetings of the said corporation every sub-

scriber or shareholder (except as hereinafter pro-

vided) shall be entitled to a vote for every share by

him or it subscribed for or held as the case may be,

and it shall be the duty of those present and entitled

to vote at such first meeting, by a majority of the

Elect Board

votes present and counted as aforesaid, to elect five

of Directors.

directors, who, with four other directors to be then

and there named by or on the part of the Baltimore

Corn and Flour Exchange, shall govern the affairs

of the said corporation for the ensuing twelve months
and until their successors shall be chosen. Upon.

the election and appointment of said directors, the

organization of the corporation shall be held com-

Elect Presi-

plete for all legal purposes. The said directors shall

dent.

at once proceed to the choice of a president of their

own number to serve for the same period. Any other

officers whose services shall be deemed immediately

necessary may be chosen pro tempore at said first

meeting, and it shall be the duty of those present

then and there to adopt or to provide for the early

Provide suit-
able by-laws.

preparation and adoption, at an adjourned meet-
ing, of suitable by-laws as hereinbefore provided,

prescribing and regulating among other things the
times and modes of holding and calling the stated

and other meetings of stockholders, with the notice

to be given thereof, together with the number, func-

tions, term of service and salary of the other

officers of the corporation, and the security, if

any, to be required from them. All matters per-

taining to the government of the corporation,

or the regulation of its affairs, not provided for here-

in, or by the by-laws, or by special resolution of the

stockholders, shall be controlled and determined by

the board of directors, who are thereto fully empow-

ered hereby.

Number of

SEC. 7. And be it enacted, That the number of

Directors

directors to be chosen annually for the government

of said corporation shall be nine, of whom four shall

be named by the Baltimore Corn and Flour Ex-

change, and the remaining five to be chosen by the

other stockholders, as provided by the last preceding

section ; provided always that the Baltimore Corn

and Flour Exchange shall not be entitled to name