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LAWS OF MARYLAND.

to enable said corporation to carry on its operations or fulfill
the purposes named in this act, and generally to do every other
act or thing not inconsistent with law, which may be necessary

Purposes.

or proper to promote the objects, designs and purposes which
are hereby declared to be for the purpose of .buying, selling or
trading of goods, wares and merchandise of every description,
the principal line of which is hardware, machinery and farm-
ing implements, in large or small quantities, either wholesale or
retail, or both, to the same extent and with like powers and in
the same manner as a natural person could do in the State of
Maryland. And the said corporation may also, in its discretion,
manufacture any articles proper to be dealt in by it.

Capital stock.

SEC. 3. And be it enacted, That the capital stock of said cor-
poration shall consist of twenty-five thousand dollars ($25,000),
divided into two hundred and fifty shares of the par value of
one hundred dollars each; but said corporation may at any time
and from time to time at a general meeting specially called for
that purpose, increase its capital stock to any amount that may
be deemed proper, not to exceed in all fifty thousand dollars
($50,000) by vote of two-thirds of all the shares of stock of
the corporation heretofore subscribed for and issued, and the
stockholders shall have the right to a pro rata share of such
increase upon the payment of the par value of the same.

Subscriptions
to stock.

SEC. 4. And be it enacted, That the corporators named in said
certificate, or a majority of them, shall have power to open at
such time and place as they may select, books of subscription
to the capital stock of said corporation; that the annual meet-
ing of the company shall be held in each year on the second
Monday of February; but if it shall happen at any time that
an election of directors shall not then be made, the company
shall not then be dissolved, but the election may be held on any
other day and in such manner as may be provided by the by-
laws. Special meetings of the stockholders may be called by
the president and directors, or a majority of them, according to
such rules as may be adopted by the by-laws of said corpora-
tion.

Management
of company.

SEC. 5. And be it enacted, That when the company shall have
been organized the board of directors thereof shall manage the
business, property and affairs of the corporation, and shall have
and exercise in its name and on its behalf all of the rights,
privileges and corporate powers hereby conferred upon the said
company, and may adopt and establish such by-laws and rules
not contrary to law as may appear to them necessary for the