202

LAWS OF MARYLAND.

election of directors next succeeding such vacancy, and that

all parts or provisions of any law creating this corporation

or amending its charter heretofore passed and inconsistent

with this section, be and the same are hereby repealed.

SEC. 2. WHEREAS, the entire capital stock of the said

Woodberry Manufacturing Company is limited by the pro-

visions of its charter to twenty thousand shares at the par

value of one hundred dollars per share, and whereas, but

Preferred

fifteen thousand of said shares have been subscribed for and

stock.

issued to its stockholders, now be it enacted that it shall

be lawful for the said Woodberry Manufacturing Company,

at any time hereafter, to issue the remaining five thousand

shares or any part thereof, as a preferred stock, upon the

vote of a majority of said stockholders of said company at

any meeting or meetings to be called for the purpose, pro-

vided, all the stockholders of said corporation shall be

notified in person, or notice shall be published for ten days

previous in one of the daily papers published in the city of

Baltimore of the time and place and object of such meeting.

SEC. 3. Be it further enacted, That it shall be lawful at

How such
stock shall

any such meeting or meetings for a majority of said stock-

be issued.

holders to determine the terms and conditions upon which

said preferred stock shall be issued, and to determine the

maximum and minimum rate of interest or dividends that

shall be payable on said stock, and determine whether the

same shall be cumulative or non-cumulative, and whether

the same shall be alien upon the franchise and property of

said corporation or otherwise, and whether said preferred

stock shall have the right and privilege or not of being voted

at any of the meetings of said company.

SEC. 4. And be it enacted, That all such preferred stock

Certificate
thereof

shall have printed upon the face of each certificate before

the same shall be issused by the company, all or any of the

terms and conditions set out in the third section of this act,

which shall have been agreed and determined upon at the

meeting or meetings of stockholders provided for in the

second section of this act, and no such certificate of stock

shall be preferred stock unless such terms and conditions are

printed upon the face of the certificates as above provided

and signed by the president and treasurer of said company,

with its corporate seal attached.

Repeal.

SEC. 5. Be it enacted, That all parts or provisions of

any act or acts inconsistent with the provisions of this act

be and the same are hereby repealed.

SEC. 6. Be it enacted, That this act shall take effect

Effective

from the date of its passage and upon its acceptance by a

majority of the stockholders of said corporation.

Approved March 17th, 1892.