250

LAWS OF MARYLAND.

hundred shares of said stock shall be subscribed
for, and until the managers of said company are
elected in the manner hereinafter mentioned,
unless in the meantime the whole of the capital
stock be subscribed for.

Commission-
ers to give no-
tice.

Sec. 3. And be it enacted. That when the, said
three hundred shares of stock shall have been
subscribed for, the Commissioners aforesaid, or a
majority of them, shall give at least two weeks
public notice in one or more of the newspapers
published in Baltimore and Harford counties, of
the time and place fixed by them for the stock-
holders to meet for the purpose of organizing said
company, by choosing by a plurality of votes, (by
ballot) a President and five Directors, (any three
of whom shall constitute a quorum,) a Treasurer,
and such other officers as they shall deem necessary
for conducting the affairs of said company, until
the second Monday in January, eighteen hundred
and sixty-five, and until a new election, and for
making such rules, by-laws, orders, and regula-

Proviso.

tions, as they may deem necessary for the well-
governing of the said company; provided, none of
the said by-laws, rules, &c., be contrary to the
Constitution and laws of this State, or of the
United States.

May become
stockholders.

Sec. 4. And be it enacted, That any corporation,
or body politic may become stockholders in said
company.

President and
Directorate be
elected annual-
ly.

Sec. 5. And be it enacted, That after the first
meeting of the stockholders shall have been held
as hereinbefore mentioned, there shall be a meet-
ing of the stockholders of said company, held at
such place as the President and Directors may
appoint, on the first Monday of January, in each
and every year, after the said second Monday of
January, eighteen hundred and sixty-five, when
and where they shall elect in the manner pre-
scribed in section three of this act, a President
and five Directors, (any three of whom shall con-
stitute a quorum,) a Treasurer, and such other
officers as they may deem necessary for the ensu-
ing year, and until a new election, and may by a
majority of votes present, adopt, add to, alter or
amend such by-laws, rules, orders, and regula-
tions, as may be deemed necessary for the interest