A. W. BRADFORD, ESQUIRE, GOVERNOR.

given at least ten,days before each instalment
shall become due by publication in at least two
papers, one of which shall be published in Balti-
more county.

315

Sec. 4. And be it enacted, That at the expira-
tion of fifteen days after the books shall have been
opened, provided one thousand shares shall have
been subscribed, and if not, then as soon as that
number of shares shall have been subscribed for
the said Commissioners, or one-third of them,
shall call a general meeting of the subscribers to
the stock at such time and place as they may ap-
point, and shall give at least twenty days notice
thereof by publication in at least two papers, one
of which shall be published in Baltimore county,
and at such meetings the subscription books shall
be presented, and thereupon the subscribers then
and there present, or a majority of them, shall
elect by ballot, seven Directors to serve for the
ensuing year, and to manage the affairs of the
company, and these Directors, or a majority, shall
have power to elect a President of said company
either from the Directors or the general body of
stockholders, and may allow him such compensa-
tion as may be deemed best, and that in said elec-
tion and all other elections, each share of stock
shall entitle the holder thereof to one vote, and
each stockholder may vote in person or by proxy,
and the said Commissioners present at the meet-
ing, or any three of them, shall be the Judges of
such first election.

General meet-
ing.

Sec. 5. And be it enacted, That to continue the
succession of the President and Directors of said
company, seven Directors shall be chosen annual-
ly at such time as may be designated by the by-
laws of the company, and that all elections shall
be by ballot, and that the Directors of the com-
pany, or a majority of them, shall have power to
appoint Judges of elections, and to elect a Presi-
dent from their own number, or from the stock-
holders at large, and with the President to ap-
point all other officers and servants, and fix their
compensatipn, and that if any vacancy occurs, in
the office of the Directors during the year for
which such Director was elected, a perspn to fill
such vacancy may be appointed by such President

President and
Directors to be
elected.