PRIVATE ACTS. 1421

Act, shall have power to open books for subscription at such
times and places as they may deem expedient, and when a ma-
jority of such shares shall have been subscribed and paid in the
directors hereinbefore named shall organize said company and
shall elect from their number a president, vice-president, and
shall also elect a secretary and treasurer, who need not be of
their number and who may be separate persons or the same per-
son, and to appoint and employ such other officers, clerks and
agents as the business of said company may, from time to time
require; and the directors above named are hereby authorized
and empowered to have and exercise in the name and in behalf
of the company all rights and privileges which are intended to
be hereby given. And the stockholders shall have the right, by
vote at a general or special meeting called for that purpose, to
change the number of directors from ten to a number not ex-
ceeding twenty; all elections shall be by ballot, and at all elec-
tions by 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 a director who is not a stockholder to the
amount of at least ten (10) shares of stock. The annual meet-
ing of the stockholders shall be held at the office of the com-
pany in Hagerstown, Maryland, on the first Monday in May in
each year.

SEC. 3. And be it enacted, That the directors shall have the
power to declare such dividends of the profits of said company
as they may deem proper; provided, that no dividend shall be
declared when the capital stock would be impaired thereby.

SEC. 4. And be it enacted, That the said corporation is here-
by authorized to accept and execute trusts of any and every
description, which may be committed or transferred, with the
consent, to it by any person or persons whomsoever, bodies cor-
porate or public, or by any court in the State of Maryland, or
in any one of the United States, and to accept the office and ap-
pointment of executor or administrator of any kind or nature
whenever such office or appointment is conferred or made by
any person or persons, or by any Orphans' Court or other court,
either in this State or any of the United States; and that in all
cases where application shall be made to any court in the
State of Maryland, elsewhere, for the appointment of any re-
ceiver, trustee, administrator, executor, assignee, guardian or
committee, it shall be lawful for such court, if it shall think
proper, to appoint said body corporate, with its consent, such
receiver, trustee, administrator, executor, assignee, guardian or
committee, and the accounts of said company as such receiver,
trustee, administrator, executor, assignee, guardian or com-
mittee, shall be regularly settled and adjusted before the