PRIVATE ACTS. 1215

SEC. 6. And be it enacted, That the president and directors
for the time being, or a majority of them, shall have power to
appoint all officers, masters and agents, as they may deem neces-
sary to conduct or execute the business of said corporation, and
fix their compensation, and in their discretion to dismiss them,
to contract, agree for and purchase, rent or hire all such vessels,
lands, chattels, fixtures, materials, rights, privileges and effects
whatsoever, and to make, own, use, have and repair all such
wharves, boats, vessels, carriages and other conveniences as
may be necessary for affecting the objects of said corporation;
to prescribe the form of certificates to be issued to stockhold-
ers, and to regulate the mode of transferring their capital
stock, to apply the funds of said corporation, so far as may
be necessary, to affect the objects aforesaid, and in payment of
the necessary expenses of the company, and to purchase, or
otherwise acquire, hold, sell, assign, transfer, mortgage, pledge
or otherwise dispose of, the shares of the capital stock of,
or any bonds, securities or evidence of indebtedness created
by any other corporation or corporations of this State, or
any other State, county, Territory, nation or government; to
call general meetings of the stockholders, and generally to
pass such by-laws as may be necessary for the exercise of the
aforesaid powers vested in the said corporation, and the same
by-laws from time to time to alter, amend and repeal, such
by-laws being subject to the approval of a majority of the
stockholders. The directors shall have power, by resolution
passed affirmatively by a vote of the whole board, to desig-
nate, under suitable provisions of the by-laws, three or more
of their number to constitute an executive committee, which
committee shall, for the time being, have and exercise any or
all of the powers of the board of directors, as provided in the
by-laws, and shall have power to authorize the seal of the
said company to be affixed to all papers which may require it.

SEC. 2. And be it further enacted. That the existence of this
corporation is hereby declared to be perpetual.

SEC. 3. And be it further enacted, That this Act shall take
effect from and immediately after the date of its passage, but
the General Assembly reserves the right to alter, amend or
repeal this Act at pleasure.

Approved March 13, 1908.

CHAPTER 92.

AN ACT to authorize and direct the Board of Police Commis-
sioners of the city of Baltimore to pension Edward F.