JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 635.

in the payments to be made on said stock herein-
before provided for; and until the first election
for directors, as herein provided for, John K.
White, Patrick H. Walker, Charles Cockey, W.
H. W. Reed, Jno. W. Baker, shall be the directors
of said corporation, with fall power and authority
to act as such.
SEC. 6. And be it enacted, That as soon as five
hundred shares of said capital stock shall have
been subscribed, the corporators, or a majority of
them, shall give twenty days' public notice of the
time and place in Baltimore city of holding an	Hold election.
election of five directors of the said company,
said notice to be given in two newspapers pub-
lished in Baltimore county and two in Baltimore
city, and at such election the stockholders may
vote in person or by proxy, as prescribed in sec-
tion five of this act; and the corporators afore-
said, or three or more of them, shall be the judges of the first election of directors, and any stock-	Who a re- judges of elec- tion.
holder, not being in arrears in payment on his
subscription, shall be eligible as directors, and the
said corporators shall deliver over the original
subscription and all payments received thereon to
said directors immediately after their election;
and the said five directors shall, within five days
after their election, proceed to elect one of their	Elect prcsir
own number president of the said company, and	dent.
the said president and directors to serve until their
successors shall be elected and qualified, as here-
inafter provided.
SEC. 7. And be it enacted, That there shall be
thirty days' notice given by the president and di-
rectors of each annual election of directors herein-
before provided for, said notice to be published
as in the last preceding section, and the directors,
or a majority of them, shall have power to ap-
point judges of election, and to elect a president
of said company from their own body, and to
allow him such compensation for his services as they may deem proper ; and if any vacancy shall	Compensat'n, of president.
occur, by death, resignation or refusal to act, of
the president or any of the directors, the remain-
ing directors, or a majority of them, shall fill the
vacancy until the next annual election.