PRIVATE ACTS. 1361

have the right to acquire, obtain and use the water of the
Savage river from the mouth of Crabtree run, in Garrett coun-
ty, to the mouth of Savage river, for the purposes aforesaid, or
the use of any other streams of water, creeks or brooks within
a radius of five miles from the said town of Bloomington, in
Garrett county, Maryland.

SEC. 3. And be it enacted. That the capital stock of said
company shall consist of ten shares at one hundred dollars
each, being one thousand dollars as the capital stock, with the
privilege to increase the same by a majority vote of the stock-
holders at a special meeting, not more than $20,000.00, called
for that purpose, and the incorporators, or a majority of them,
shall have the power to open books for subscription at such
time and places as may be deemed expedient, and when not
less than ten shares have been subscribed, and when ten per
cent, thereon has been paid in, the said company shall then
be organized by the election of five directors; all of said
directors to serve until their ensuing annual election or until
their successors shall have been duly elected and qualified; and
the directors so elected of said company or a majority thereof
when it shall have been organized may, and they are hereby
authorized and empowered to have and exercise, in the name
and behalf of the company, all rights and privileges intended to
be hereby given.

SEC. 4. And be it enacted, That the said directors of said
company shall be elected annually by the stockholders on the
first Monday in May of each year, and they shall elect from
their number at the first meeting of the board after their
election, a president, and shall also have power to elect a
secretary and treasurer 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; ten days' notice shall be given by publi-
cation in one newspaper published in Garrett county of the
time and place of said annual election, which election shall
be conducted by three stockholders to be selected from the
body of stockholders, one of whom shall be designated as judge
and the other two as inspectors.

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 of stock as they
may deem necessary upon and under the penalty to the sub-
scribers; of forfeiting all' previous payments, thirty days' notice