214

LAWS OF MARYLAND.

SEC. 7. And le it enacted, That the president and

May appoint.

directors, or a majority of them, may appoint all

such officers, engineers, agents and servants whatso-

ever as they may deem necessary for the transaction

May remove.

of the business of said company, and may remove

them at their pleasure, and they, or a majority of

them, shall have power to determine, by contract,

Compensat'n.

the compensation of all such officers in the employ

of said company, and determine the manner of ad-

justing and settling all accounts against said com-

pany, and also the manner and evidence of the trans-

Pass all by-

laws

fer of stock in said company, and they, or a majority
of them, shall have power to pass all by-laws which

they may deem necessary for exercising all the pow-

ers vested in said company hereby incorporated, and

for carrying the objects of this act into effect, pro-

Not contrary

vided only, that such by-laws shall not be contrary

to State laws.

to the laws of this State, or the provisions of this act.

SEC. 8. And be it enacted, That at the regular

annual meeting of stockholders, the president and di-

Exhibit

rectors in office for the preceding year shall exhibit

statement for

a clear and distinct statement of the affairs of the

preceding

company, and at any called meeting of the said

year.

stockholders, a majority of those present may require
statements from the president and directors, whose

duty it shall be to furnish them when thus required ;

and at all general meetings of the stockholders a

majority in value of stockholders in said company

May remove

may remove from office any president or any of the

president of

directors of said company, and may appoint others

director.

in their stead.

General

SEC. 9. And be it enacted, That a general meet-

meeting.

ing of the stockholders may be called at any time by

the president or a majority of the directors, after

having given thirty days notice as hereinbefore pro-

vided, but a majority of the stockholders holding a

Majority to

majority of the capital stock of said company shall

transact busi-

be required to transact any business in such meet-

ness.

ings of stockholders.

SEC. 10. And be it enacted, That the president

Power to

and directors of said company shall have power to

npen, enlarge,

open, enlarge and deepen a channel or canal across

&c.

the bar or obstructions in the Choptank river, off

against the mouth of Secretary creek, in said Do r-