LLOYD LOWNDES, ESQUIRE, GOVERNOR.

given. And the stockholders shall have the right, by vote, at a
general or special meeting called for the purpose, to change the
number of directors from twelve to a number not exceeding
twenty-four.

1183

SEC. 3. And be it enacted, That directors shall thereafter be
elected annually by the stockholders on the first Monday in
January, and that they shall elect from their number at the
first meeting of the board after their election, as prescribed by
the second section of this Act, and after all subsequent elections,
a president, first vice-president, second vice-president, and shall
also have power to elect a secretary and treasurer, who need
not be of their number, and to appoint and employ such other
officers, clerks and agents, as the business of said company from,
time to time requires ; all elections shall be by ballot, and at
such elections and at all meetings of the 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 stockholder to the amount of at least ten shares of stock.

Election of
directors.

SEC. 4. And be it enacted, That five days' notice shall be
given by publication in two daily newspapers in Baltimore city
of the time and place of such annual election, which election
shall be conducted by three stockholders, to be named by the
directors from the body of the stockholders, one of whom shall
be designated to act as judge, and the other two as inspectors.
SEC. 5. And be it enacted, That the directors shall have

Five days'
notice
given.

power to declare such dividends of the profits of the said com-
pany as they may deem proper, provided that no dividend
shall be declared when the capital stock would be impaired
thereby.

Dividends
declared.

SEC. 6. And be it further enacted, That said company shall
have power to receive money on deposit, to act as agent for the
purpose of issuing, registering or countersigning certificates of
stock, bonds or other evidences of debt of any State, corpora-
tion or association, municipality or public authority, on such
terms as will be agreed upon ; to deal in exchange, foreign and
domestic, and in every and all descriptions of property, per-
sonal effects, securities, mortgages, land, certificates of indebt-
edness, stocks of incorporated companies, notes, warehouse
receipts and bills of lading, loans on bonds of the United
States or any city, county, or municipality, or any incorporated
company, or any individual.
SEC. 7. And be it further enacted. That any and every
court into which monies may be paid or deposited by agreement

Receive
money on
deposit, etc.