1428 LAWS OF MARYLAND.

SEC. 3. And be it enacted, That the persons hereinbefore
named as incorporators, or a majority of them, may cause
books to be opened at such times and places in the town of
Elkton, in said Cecil County, as they may elect in which said
town their principal office shall be located, and that when one
hundred or more shares of said stock have been subscribed,
said incorporators, or a majority of them, shall call a general
meeting of the subscribers at such time and place as they may
appoint, after having given ten days' public notice of such
meeting in some newspaper published in said Cecil County or
by written notice thereof mailed to each of said subscribers,
and at such meeting said incorporators, or a majority of them,
then and there present, who may represent a majority of the
stock so subscribed, shall elect by ballot not more than five
directors, who shall be stockholders in said corporation, to man-
age the affairs of said corporation, until the next general meet-
ing of stockholders and until their successors are elected and
organized, which directors, or a majority of them, shall have
power to elect a president from among the directors, and in
said election and all other elections by the stockholders of said
company, each shareholder shall be entitled to one vote for
each share owned by him, her, it or them, and every stock-
holder may vote either in person or by proxy, and said incor-
porators, or a majority of them, shall be judges of the first
election of directors, and until the first election for directors',
as herein provided for, the said incorporators shall be direc-
tors of said corporation, with full power and authority to act
as such.

SEC. 4. And be it enacted, That the president and directors
elected at the first meeting of said stockholders shall serve
until the first Wednesday after the first Monday in January
thereafter, or until their successors shall be elected, and to
continue the succession of said corporation, a general meeting
of said stockholders shall be held annually on the first Wednes-
day after the first Monday in January of each year thereafter,
at which meeting a board of directors shall be elected in the
manner aforesaid to serve for one year, or until their succes-
sors shall be elected, and other meetings of the stockholders
may be called by the president and directors, or a majority of
them, according to such rules as may be adopted by the by
laws of said corporation, and the board of directors may meet
as often as necessary for the transaction of the business of the
corporation.

SEC. 5. And be it enacted, That the corporation hereby
formed shall have full power to manufacture and sell and
furnish such quantities of electric power and electric light, or
any other kind of illuminating commodity as may be required