THOMAS SWANN, ESQUIRE, GOVERNOR.

77

be necessary for the transaction of the business of
the company, and allow such salaries and compen-
sation as they shall judge reasonable.

Sec. 6. And be it enacted, That no stockholder
in said Company shall he answerable in person or
individual property, for any contract or agreement
of said Company, or for any losses, deficiencies or
failures of the capital stock, hut the whole of said
capital stock, together with all property, rights and
credits belonging thereunto, and nothing more shall
at any time he answerable for demands against the
Company; the stock of the Company may be as-
signed and transferred on the books thereof in per-

Stockholders
no answera-
ble.

son, or by power of attorney; but no stockholder
indebted to the Company, shall be permitted to
make a transfer or receive a dividend, until such
debt is paid, to the satisfaction of the President
and Board of Directors.

Transfer.

Sec. 7. And be it enacted, That the President
and Directors may call a general meeting of the
stockholders for any purpose relative to the affairs
of the Company, giving ten days notice thereof,
in two day newspapers of the city of Baltimore,
and any number of stockholders, not less than five,
holding together not less than five hundred shares,
may 'at any time apply to the President and Direc-
tors to call a general meeting of the stockholders
for any purpose relative to the affairs of the Com-
pany, and if the President and Directors refuse to
call such meeting, the number of shares shall have
power to call a general meeting of the stockhold-
ers, giving ten days notice in said newspapers,
specifying in such notice the object of such meet-
ing.

General
meeting.

Sec. 8. And be it enacted, That as soon as prac-
ticable alter the passage of this Act, the persons
named in the first section thereof, or a majority of
them, shall open the books for subscription to the
capital stock of said Company, at some public
place or places in the city of Baltimore, of which
public notice shall be given, and shall keep the
same for two weeks, or until five thousand shares
are subscribed and taken.

Book's of sub-
scription to be
opened.

Sec. 9. And be it enacted, That a majority in
amount of [of] the whole number of stockholders
may in their discretion accept and receive any ad-

Privileges.