1827

LAWS OF MARYLAND.

CHAP. 207

Meeting to orga
nize.

the same manner as if the said corporate name had not bees
changed.
SEC, 3. And be h enacted, That the said president and
managers, within thirty days after the increased stock shall
be subscribed, and five dollars paid on each share thereof,
shall appoint a day and a place, of which three weeks notice
shall be given as aforesaid, for the stockholders in the said
Newcastle and Frenchtown Turnpike and Rail Road Compa-

Choose officers

ny to meet for the purpose of choosing seven of the stockhol-
ders as directors, to manage the affairs of the said company,
of which election the said president and managers, or any
three or two of them shall be judges; and at such election, and
all future elections by, and meetings of the said stockholders

Votes rated.

in said company, each share of stock shall entitle the holder
to one vote: Provided, however, That no person shall have
more than twenty-five votes at any election, or in determining
any question arising at such or any other meeting, whatever
number of shares such person may be entitled to: And the
directors elected at such meeting, and their successors, to be
elected annually by the stockholders as aforesaid, or a majori-

President

ty of them shall have power, and they are hereby authorised
to elect a president, who may or may not be a stockholder,
and appoint or employ all such other officers, agents, servants,
laborers and other persons, as they shall deem necessary in

General powers
granted.

the exercise of the powers and performance of the duties here-
by vested in and required of them, and fix the salary or other
compensation, to be paid or allowed to every person so e-
lected, appointed or employed, and in their discretion to re-
move or dismiss all or any of the said persons; to make all
contracts and agreements necessary for the performance of
any work or purchase of any article which they deem advi-
sable; to fix the time and place, and direct notice of the an-
nual election of directors, and other meetings of the stockhol-
ders, and the same from time to time to change; to appoint
judges of all elections, to fill up all vacancies which shall oc-
cur in their own body, and to pass all such by-laws as shall be
necessary for the full and beneficial exercise of all the powers
which are or shall be vested in them, and such by-laws from
time to time to alter and repealed: Provided, That such by-
laws shall not be contrary to the laws of this state or of the
United State s.

Powers to locate
and construct road

SEC. 4. And be it enacted That the directors aforesaid,
when elected, shall be vested with full power to locate and
construrt a rail road from Frenchtown aforesaid, to the line
of this state, in a direction towards New-Castle, with as many
tracks as they shall think necessary, cither on the bed of the
turnpike road authorised to be laid out by the original charter
above mentioned, or varying therefrom in whole or in part,
as the more beneficial and convenient construction of the said
rail road may require; and whenever it shall be necessary to
locate any part of the said rail road over or on any other
ground than the said bed of the turnpike road, the said direc-
tors may either obtain the right to make such location by con-