LLOYD LOWNDES, ESQUIRE, GOVERNOR.

777

SEC. 2. The capital stock of said association shall be $25, 000,
divided into 1,000 shares of the value of $25 each, and the
corporators herein named are hereby authorized and empowered
to open books of subscription to the capital stock of said cor-
poration, and when two-thirds in amount of said stock shall
have been subscribed, to call a meeting of said stockholders and
elect by ballot a board of seven directors, who shall be the

Capital stock.

directors for the term until the next annual election of direct-
ors to manage the affairs of said corporation; the said direct-
ors shall each be entitled to one vote for each share of stock
held by him or her, and may vote either in person or by proxy.
After each of such elections the directors so elected shall elect
one of their own number as president of said board, and for
the continuance of said corporation there shall annually on the
first Tuesday in April be an election held for such directors.
The incorporators herein named shall appoint the judge of elec-
tion for the first election of directors.

Directors.

SEC. 3. The object of said association shall be the improve-
ment of the methods and products of agriculture, of cattle,
sheep, hogs, poultry and especially for the improvement of the
breed of horses, and in carrying out the said object of said
association, it is hereby authorized to hold annually a pviblic
fair for the exhibition of live stock, agricultural and household
products, and it may also contract for the use by any person
of any track which they may establish or control, and may
hold one or more meetings in each year at such place as it may
select for the exhibition and trial of such animals as it may
deem proper, and may offer and give such premiums as it may
determine on for superiority in the object sought.

Objects Of
association.

SEC. 4. And be it enacted, That this act shall take effect
from the date of its passage.
Approved April 4, 1896.

Effective.

CHAPTER 454.

AN ACT to authorize the County Commissioners of Queen
Anne's County to grant a pension to John Cray, of said
county.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Queen Anne s county
are hereby authorized and empowered to grant an annual pen-
sion, not exceeding fifty dollars, to John Cray, of said county,

Pension to
John Cray.