JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 563

vote in all meetings of the stockholders of said com-
pany, to be given either in person or by proxy duly
appointed by an instrument in writing, properly ex-
ecuted before some officer authorized to take ac-
knowledgments of deeds; and for the purpose of
obtaining subscription to the said capital stock, Ar-
thur P. Gorman, Robert T. Baldwin, Michael Ban-
non, William H. Tuck and James G. Berrett, or a
majority of them, are hereby appointed a commis- sion, with full power and authority to open books	Commission; appointed.
for such subscriptions, at such time and place, and
under such regulation as to mode, manner, time of
payment and otherwise, as they, or a majority of
them, shall in their discretion deem expedient, and
the subscribers to such stock shall be entitled to pay
for their said subscriptions at their election in money
or in lands, or labor or materials proper to be used in
the construction of said canal or its works and ap-
purtenances, and if paid for in lands, material or la
bor at such a valuation thereof respectively as may be agreed on by and between the said subscribers and
the said commissioners, or a majority of them ; and
in case of the death, resignation or failure to act
from any cause of any of said commissioners, vacan-	Vacancy —
cies may be filled by those who shall accept such	how filled.
appointment and act thereunder, or a majority of
them, by the appointment of other commissioners in
their place and stead, so as to secure at all times at
least three commissioners qualified to act under this
section.
SEC. 3. And be it enacted, That whenever sub-
scriptions to the amount of one hundred thousand
dollars, payable in money or in lands, materials or
labor, as hereinbefore provided, shall have been
obtained, the subscribers, or a majority in value
thereof, shall have authority to meet and organize	Organize
said company by the election of one of their number	company.
to the office of president of said company, and six
others also from amongst their number to the office
of directors of said company, who shall hold their
respective offices for the term of one year thereafter,
or until their successors shall be duly elected and
qualified, with power to said president and directors
to fill any vacancy or vacancies which may take
place amongst them during their term in office, by
the election of such other person or persons from