ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

647

ing for its consideration and action; and at all annual or special

meetings of stockholders where the question of the increase of

the capital stock of this company is to be considered, a quorum

shall consist of stockholders owning at least one-half of the

capital stock; but at all other annual or special meetings of

stockholders a quorum shall consist of stockholders owning at

least one-third of the capital stock; and in case of any failure to

elect directors at the time fixed therefor by the fourth section of

this act, the old directors shall remain as officers until an elec-

tion is held; and a call shall be issued and published in at least

one weekly newspaper published in Baltimore county, and also

in at least one daily newspaper published in Baltimore city, giv-

ing at least ten days notice of the time and place fixed for another

meeting of stockholders to elect directors; and the board of

directors shall have power to fill vacancies occurring in their

body between the annual elections of directors.

SEC. 6. And be it enacted, That the directors shall have power

to declare such dividends of profits of this company as they may

Dividends.

deem proper; provided, that no dividend shall be declared when

the capital stock would be impaired thereby.

SEC. 7. Anil be it enacted, That the directors shall have power

to make by-laws, rules and regulations necessary for the govern-

ment and management of the affairs of this company not con-

trary to law which they may deem advantageous to the interest

By-lews.

thereof; the directors shall have power to require payments from

each and every stockholder of the amount remaining unpaid on

the stock of this company held by stockholders at such times and

in such proportions as they shall think proper, and under the

penalty, in case of non-payment as required, of forfeiture to this

company of such stock and all previous payments thereon; the

said assessment to be made as the by-laws and rules of this com-

pany may direct.

SEC. 8. And be it enacted, That this company is authorized to

take, have, hold, and enjoy all such estates real, personal and

mixed as may be obtained by the investment of its capital stock,

and all other moneys or funds that may come into its possession

To control
Invest-

in the course of ita dealing and business, and the same to sell,

ments.

grant, mortgage, lease and dispose of at pleasure; and to execute

and deliver all deeds and other instruments of writing concern-

ing the same, but it shall not hold the stock of any private in-

corporated company beyond the market value at the time of ob-

taining the same of twenty thousand dollars.

SEC. 9. And be it enacted, That this company shall have power,

first, to act as the fiscal or transfer agent of any State, municipality,

body politic or corporation, and in such capacity to receive and

disburse money, and issue, transfer, register and countersign cer-

tificates of stock, bonds and other evidences of indebtedness, and to