JOHN WALTER SMITH, ESQ., GOVERNOR.

871

fully equip said railroad company, and secure the payment of
such bonds by mortgage or mortgages of all or any part of the
property, rights, franchises, tolls and re venues of said company.

CHAP. 607.

SEC. 4. And be it enacted, That the affairs of said company
shall be managed by a board of twelve directors, one of whom
shall be elected president, and said incorporators shall have
power, at any time after the passage of this Act, to organize
by the election of a president and such directors for the proper
management of the affairs of said company; that the president
and directors thus appointed and elected shall serve for one
year after the date of their organization, or until the election
and qualification of their successors, and directors shall there-
after be elected by the majority vote of the stockholders
annually, and to serve for the term of one year; and each
stockholder shall have or be allowed one vote for every share
owned by him or her, and may vote either in person or by
proxy; such by-laws as may be found necessary may be made
and adopted by the board of directors; provided, however,
that the same are not contrary to law, nor to the objects of this
incorporation, including in such by-laws and regulations for
the affairs of the company, appointments, pay and duties of
the president and necessary subordinate officers, and the time,
place and notice for the holding of the annual meeting of
stockholders for the election of directors, and also for the
declaring of such dividends out of the profits of the said com-
pany as the board of directors may deem proper.

Managed by
board of.
directors.

SEC. 5, And be it enacted. That the said company shall
have power to construct, equip, maintain and operate a rail-
road impelled by electricity, steam or other power, as the
directors may determine, from some point in the town of
Laurel, in Prince George's county, to some point in or near the
town of Brookeville, in Montgomery county, with the right to
construct such branch lines extending through Prince George's
and Montgomery counties as the said board of directors may
deem necessary and advisable, and to carry, transport and haul
passengers, parcels, packages and general freight over said
railroad, and to charge therefor such rates as compensation
therefor as the board of directors may from time to time
determine.

Authority to
construct,
equip, main-
tain and
operate a
railroad.

SEC. 6. And be it enacted, That the railroad to be so con-
structed shall be of single or double track, and shall have as
many sets of tracks, switches and turnouts and branches as the
said board of directors may deem necessary, or the majority
of them or their agents may cause to be made, and the said
board of directors may contract with others for making said
railroad bed, tracks, switches, turnouts, branches, power houses

Railroad may
be of single
or double
track, ptc.