JOHN WALTER SMITH, ESQ., GOVERNOR.

707

notice of such meeting by two insertions in some newspaper
published in Cecil county ; at such meeting the aforemen-
tioned persons, or a majority of them, shall lay the subscrip-
tion books before the subscribers then and there present, and
the said subscribers, representing a majority of the subscribed
stock, shall elect five or more directors, not exceeding, how-
ever, nine in number, all of whom being stockholders in said
corporation, to manage the affairs of said corporation for the
next ensuing year, or until their successors are elected and
qualified, which said directors, when elected, shall have power
to elect a president and other officers from their own number,
each subscriber being allowed one vote for each share of stock
held by him ; the incorporators, or a majority of them, here-
inbefore named, shall be the judges of said election, and until
said election takes place shall be directors of said corporation,
with full power to act as such. The board of directors shall
provide for an annual election of directors at some definite
time and place to be designated by them, or a majority of
them. The board of directors, when organized, shall have
power to make by-laws and regulations for the management
of said company, and may employ such clerks and other
employes as may be necessary, and at such salaries or wages
as may be mutually agreed upon.

CHAP. 480.

Directors to
be elected.

SEC. 5. And be it further enacted, That said company
shall have power to construct, equip, and maintain and operate
a railroad propelled by electricity or other power, as the direc-
tors may determine, from a point on the Delaware State line,
near where the said State line intersects the public road lead-
ing from Newark to Elkton, Maryland, through the towns of
Elkton and Chesapeake City, through Cecil county, to a point
on the Sassafras river, to haul passengers, parcels, packages
and freight over said railroads, and charge therefor such rates
as compensation therefor as the said board of directors may
from time to time determine and fix.

Power
to construct,
equip
and maintain
railroad,
etc.

SEC. 6. And be it further enacted, That the railroad so to
be constructed may be a single or double track, and shall have
a« many sets of switches, tracks, turnouts or branches, not
exceeding twenty miles in length, as the said directors may
deem necessary ; and the said directors, or a majority of them,
or their agents, may cause to be made, or contract with others
for making such railroad tracks, switches, turnouts, branches,
power houses and pole lines, or any part thereof, including the
building of bridges, necessary warehouses, depots and stations,
and all work whatsoever, necessary to the proper completion
and working of said railroad and branches; and may acquire
land, earth, stone, gravel or other material required for any of

Authority to
use a single
or double
track.