A. W. BRADFORD, ESQUIRE, GOVERNOR,

the whole Board of Directors present at a meeting
at which -the motion for such remission shall be
made upon the payment, by the person incurring
a forfeiture of the principal of said instalment, and
interest thereon, up to the time of such pay men to
as also of his portion of such loss as may have oc-
curred previous to such forfeiture.

59

Sec. 4. And be it enacted, That so soon as twenty-
five hundred shares are subscribed for and paid or
secured to be paid, this company shall be competent
to transact all kinds of business for which it is es-
tablished.

Competent
to transact bu-
siness.

Sec. 5. And be it enacted, That after the sub-
scription of twenty-five hundred shares as provided
for in the foregoing fourth section, the said Joseph
Rupert, Joseph H. Audoun, Antone Weiskittel,
George Rost, Henry Strauss, John Baier, Michael
Wellinger, August Wagner, Francis Ruper,
Charles Weber, Christopher Gissel, Herman F.
Crownfield, Frederick Wehr, Peter Voley, Isaac
Deford, Jacob J. Bankard and Henry Vees, are
hereby created Directors in the said Fire Insurance
Company of Baltimore until the first Monday in
March, eighteen hundred and sixty-six, and until
their successors shall be elected as hereinafter pro-
vided for, and such of them as shall be present at
their first meeting, shall proceed to organize the
company by electing a President, Vice President
and Secretary thereof.

Directors.

Sec. 6. And be it enacted, That the stockholders,
comprising this company or their representatives
by proxy, shall on the first Monday in March eigh-
teen hundred and sixty-six, and on the same day
of each and every year thereafter, choose by ballot
from among the stockholders, twelve Directors to
serve one year, each Stockholder to be entitled to
one vote for every share of stock, which he, she or
they may hold to the number of not exceeding five,
one vote for every five shares of stock exceeding
five shares, to the number of fifty, one vote for
every ten shares exceeding fifty shares; but no per-
son or body politic shall have more than twenty
votes, the Directors so chosen shall serve until the
first Monday in March next succeeding their elec-
tion, and until others are chosen at their first meet-
ing after every annual election, they shall choose

Time of an-
nual meeting.