462

LAWS OF MARYLAND.

this act to organize by the election of a president and such

other officers as in their judgment may be to them necessary

for the proper management of the affairs of said company.

SEC. 5. And be it enacted, That the president and direc-

Election of

tors thus appointed or elected shall serve for one year from

directors

the passage of this act, or until their successors shall be

elected, and to continue the succession of said corporation

and general meeting of the stockholders shall be held

annually on the second Monday in April, at which meeting

a board of seven directors shall be elected by the stock-

holders in said corporation by ballot to manage the affairs

of said company which directors shall all be stockholders

in said corporation and shall have power to elect a presi-

dent from among their number, and in said election for

directors and all other elections by the stockholders of said

company each shareholder shall have or be allowed one vote

for every share owned by him or her, and every stockholder

may vote either in person or by proxy, and the directors so

elected shall serve for one year or until their successors shall

be elected ; and other meetings of the stockholders may be

called by the president and directors or a majority of them

according to such rules, as may be adopted by the by-laws

of said company, and the board of directors may meet

as often as may be necessary for the transaction of the

business of the company.

SEC. 6. And be it enacted, That the president and direc-

Make

tors of said corporation or a majority of them shall have

by-laws

power to make and adopt, alter and amend such by-laws,

and other
powers.

rules and regulations for the direction and management of

said company as may in their judgment from time to time

be necessary for the purposes of the corporation, provided

they are not inconsistent with the constitution and laws of

this State and the provisions of this charter, and the presi-

dent and directors of said company or a majority of them

shall have the power to employ all such agents and servants

as in their judgment may be necessary for the construction,

maintainauce, repair and preservation of the railway and

other property of said company, and the running of cars and

transportation of passengers thereon and for the transaction

of the business for which it is incorporated.

SEC. 7. And be it enacted, That the company hereby incor-

Powers.

porated shall have the power to make, construct and main-

tain a railroad with double or single track and si lings, as

they may deem expedient for the transportation of passen-

gers in cars propelled by electricity or other improved

motive power other than steam, in Baltimore City and Balti-

more County and Howard County, beginning for the same