64

LAWS OF MARYLAND.

in Worcester county and in the city of Baltimore,

and the said stockholders shall elect by ballot at such

meeting, or at any subsequent general meeting of said

stockholders, five directors of said corporation, all of

whom shall be stockholders in said corporation, who

Term of office

shall hold office for one year from the day of their

election, and until their successors shall be elected and

qualified, and to conduct and manage the affairs and

business of said corporation; and the said stockholders

shall each be entitled to one vote for each share they

shall have and hold at the time of said election; and

such election shall be made by each of the stock-

holders as shall attend said general meeting, either in

person or by proxy; and the directors of said corpora-

tion shall be annually elected, and at such time and

place as shall be directed by law of said corporation.

SEC. 5. And be it enacted. That the directors so

elected, as soon after the election as practicable, shall

Elect officers.

elect one of their number president of said corpora-

tion, and all other officers, and the president and di-

rectors, or their successors in office, or a majority of

them assembled, shall have full power and authority

to appoint, and at their pleasure, dismiss such clerk,

treasurer, engineer and such other agents as they may

Fix compen-

deem expedient, and to fix their compensation, and to

sation.

agree with any person or persons on behalf of the

said company, to cut said inlet or canal; to breed,

plant and take up oysters and shell fish, as hereinafter

provided, and all such other works as they judge neces-
sary and expedient for carrying out the provisions of

this act.

SEC. 6. And be it enacted, That when any vacancy

or vacancies occur in the board of directors of said

company, by death, resignation or otherwise, the re-

Vacancy — how
tilled.

maining directors shall choose others in their stead,

from the stockholders of said company, who shall con-

tinue in office until the next general election of direc-

tors.

SEC. 7. And be it enacted, That the said corpora-

tion is hereby authorized and empowered to cut, dig

and make a canal or inlet, of any width or depth it

Width and

may deem necessary or proper, at some point on the

depth of canal
or inlet.

eastern border of Worcester county, not less than

three miles northerly from Ocean city, in said county ;

thence to the Isle of Wight and Assawoman bays, in

order to secure in the waters of said bays an ebb and