688

LAWS OF MARYLAND.

of Information, and are empowered to receive subscriptions to
the capital stock of the said Bureau of Information, and they
or a majority of them may cause books to be opened at such
times and places as they may direct, for the purpose of receiv-
ing subscriptions to the said capital stock of said company,
after having given such notice of the times and places of open-
ing of the same as they may deem proper; and if any of the
said incorporators shall die or refuse to act during the continu-
ance of the duties devolved upon them by this act, others may
be appointed in their stead by the remaining incorporators.

SEC. 2. And be it enacted, That the capital stock of the

Capital stock.

Bureau of Information shall be ten thousand dollars, in shares
of twenty-five dollars each, which said capital stock may be
increased at the discretion of the said incorporators or direc-
tors, to be elected as hereinafter provided, as they may deem
necessary and proper; and as soon as fifty shares of the said
capital stock shall be subscribed, the subscribers of said stock,
their successors and assigns, shall be and they are hereby

A body cor-
porate.

declared to be incorporated into a company by the name of the
"Bureau of Information," and by that name shall have per-
petual succession, and shall have and enjoy and may exercise
all the powers, rights and privileges which are necessary for
its purposes.

Board of
directors.

SEC. 3. And be it enacted, That as soon as fifty shares of
the stock of the Bureau of Information, shall have been sub-
scribed, the stockholders shall meet and elect a board of
directors, tive in number, and that the directors be chosen
annually thereafter on the first Wednesday in May. The
number of directors may be increased, not exceeding eleven,
at the will of the stockholders.

SEC. 4. And be it enacted, That the Bureau of Information

May buy and

sell news.

be and is hereby authorized and empowered to collect, prepare,
buy and sell reports of the current events of the day, com-
monly known as news. It shall employ all persons necessary
in the opinion of its directors and officers for the proper
operation and conduct of the company's business, the collec-
tion of information and its distribution and forwarding to its
subscribers, by such means, which they are hereby empowered
to create, acquire and dispose of, as its directors shall find best
adapted to their purpose; and they shall be paid weekly, bi-
weekly or monthly, as the directors shall elect.