LLOYD LOWNDES, ESQUIRE, GOVERNOR.

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and directors of the said company; the general meetings of
the stockholders may be called at any time during the interval
between the said annual meetings by the president and direc-
tors, or a majority of them, or by stockholders owning at least
one-fourth in amount of the stock actually subscribed, upon
giving fifteen days' public notice of the time of holding the
same; and when such meeting may be called by the stock-
holders, the notice shall specify the object of the call, and if
at any such called meeting, a majority in value of the stock-
holders are not present in person or by proxy, the meeting
shall be adjourned from day to day without the transaction of
any business, for any time not exceeding three days; and if
within three days, the stockholders having a majority of the
stock subscribed, do not attend, the meeting shall be dissolved,
and all general meetings of the stockholders shall be held at
the place where the principal office of the company for the
transaction of the business shall be located, and said place shall
be within the State of Maryland.

Meetings of
stockholders.

SEC. 5. At the annual meeting of the stockholders, the pres-
ident and directors in office for the preceding year, shall
exhibit to the stockholders a clear and distinct statement of
the affairs of said company; and at any called meeting of the
stockholders, a majority of them present in value, may require
similar statements from the directors, whose duty it shall be
to furnish them when thus required; and at all general meet-
ings of the stockholders, a majority in value of all the stock-
holders of the company may remove from office the president
or any of the directors of the company, and elect others in
their stead.

Annual
reports.

SEC. 6. In all proceedings of the president and directors of
the said company, the president shall have one vote, and all
questions shall be decided by a majority of votes, and the said
president and directors may appoint, or provide for the appoint-
ment, all and any such officers, engineers, agents, or servants
whatsoever, as they may consider necessary for the transaction

Vote of presi-

dent.

of the business and the accomplishment of the purposes of the
company, and may dismiss or change the same at pleasure,
and may fix and determine, by general regulations or by special
contract, the compensation of all such officers and others, and
may determine, by their by-laws and regulations, the manner
of settling and adjusting all accounts of any of the said offi-
cers against the company, and also the manner and evidence
of transfers of the stock of the company; and they shall have
power to pass and, from time to time, at their pleasure, change

Officers,
agents, etc.