FRANK BROWN, ESQUIRE, GOVERNOR.

and agents as the business of the said company from time to
time requires; all elections shall be by ballot, and at such elec-
tions and all meetings of stockholders, every stockholder shall
be entitled to one vote for every share of stock held by him,
but no person shall be eligible as director who is not a stock-
holder to the amount of five shares of stock; ten days' notice
shall be given by publication in two newspapers, one of which
shall be published daily in the city of Baltimore, of the time
and place of said annual election, which election shall be con-
ducted by three stockholders to be elected from the body of
stockholders, one of whom shall be designated to act as judge,
and the other two as inspectors.

195

SEC. 5. And be it enacted, That the president and directors
for the time being, or a majority of them, shall have power
to call for the payment of the subscriptions to the capital
stock, as they may deem necessary, under the penalty to the
subscribers of forfeiting all previous payments, thirty days'
notice having been previously given; to purchase and lease
property, real and personal, water rights, powers and privi-
leges, and to erect thereon all suitable reservoirs, dams, tunnels,
conduits, fountains, engines, machinery, buildings and works
of the company; to collect the water and dispose of the same
for the purposes hereinbefore stated; to excavate the earth and
lay pipes for water in the said village of Towson, and along
the streets, roads and alleys thereof, and along the public and
county roads of the ninth election district of Baltimore
county; to receive subscriptions for the whole or any part of
the capital .stock remaining unsubscribed, in such manner and
at such time as they may deem proper; to make and pay over
to the stockholders, from time to time, dividends of the net
profits of the company; to make rules, regulations and by-laws
for the government of the said company, and its agents and
officers, and to take such bonds from them for the faithful per-
formance of their duty as may be deemed necessary; to borrow
money, if required by the company, and secure the same by
mortgage on its property.

Corporate
powers.

SEC.6. Andbe it enacted, That the stock of this company
shall be deemed personal estate, and shall, with all the effects
of the company, be liable for its debts, but the stockholders,
individually, shall not be liable therefor, and the service of
any judicial process on the president shall be sufficient service
on the company.

Liability for
debts.