650

LAWS OF MARYLAND.

cessors shall be elected and other meetings, of the stock-

holders, 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 corporation, and the board of direc-

tors may meet as often as may be necessary for the transac-

tion of the business of the corporation.

SEC. 5. And be it enacted, That the corporation hereby

formed shall have power and is hereby authorized to con-

Corpora-
tion to

struct, lay, operate and erect lines of wires for illuminating

have

purposes , also to lay tubes for the using and supplying

power

electricity and electrical currents, and for all other purposes

to which electricity or magnetism may be applied, either

above ground or under ground, or in pipes or otherwise, over,

under and along the streets, squares, lanes, roads, public

highways, bridges and alleys of the town of Elkton, and to

that end lay wires, tubes, conductors and insulators, and

erect poles and posts, and construct, maintain, repair and

remove from time to time all such lines, pipes and appliances;

provided, however, that in the construction, maintenance,

removal and repair thereof, the same shall be done under

such regulations as the town commissioners shall prescribe.

SEC. 6. And be it enacted, That the directors of said cor-

poration shall have full power to adopt such by-laws, rules

and regulations for the direction and management of said

Power to

corporation as may in their judgment be necessary for the

adopt
by-laws.

purposes of their incorporation, not inconsistent with the

provisions of this charter and the laws and constitution of

this State, aud the president and directors of said corpora-

tion or a majority of them, shall constitute, appoint and

employ, such officers, agents and servants for the construc-

tion, preservation and repair of the said lines and property

and the transaction of all other business of said corporation,

with full power to fix their compensation, and to remove

them at pleasure.

SEC. 7. And be it enacted, That should said president and

directors determine to increase the capital stock of said

Increase

corporation, as authorized in the second section of this act,

capital
stock.

they, or a majority of them, shall give the same notice of

the time and place of subscribing such additional stock as

is provided in section three of this act, preliminary to the

election of a president and directors.

SEC . 8. And be it enacted, That upon every subscription

of said stock, whether under section two or section seven of

Payment

this act, there shall be paid to the incorporators or their

of stock.

agents, the sum often dollars on each and every share sub-

scribed, and the residue shall be paid in such installments