354

LAWS OF MARYLAND.

Directors shall cause to be given at least twenty
days notice in two newspapers of the city of Balti-
more. In all elections of Directors each stock-
holder shall have one vote for every share of
stock which he or she may hold; at each annual
meeting of the stockholders the Directors of the
preceding year shall submit to the meeting a full
and fair statement of the affairs and proceedings
of the said corporation for each year, together with
a full account of all moneys received and expended
for the same; and they shall also produce for the
inspection of the meeting, or such committee as they
shall name, all books and accounts concerning the
corporation; special meetings of the stockholders
may be called by the order of the Directors, or by
stockholders holding one-fourth of the capital
stock on like notice to that required for the annual
meeting, specifying moreover the object of the
meeting.

May issue
mortgage
bonds.

Sec. 9. And be it enacted, That the said incor-
porators, viz: Lemuel W. Gosnell, Samuel S.
Woolston and Charles Spilker, or a majority of
them, or their successors, be and they are hereby
authorized to issue such mortgage bonds with cou-
pons attached, bearing six per centum interest, as

Provisos.

may become necessary, provided, however, the
amount of the same shall not exceed the sum of
one hundred and fifty thousand dollars; provided,
also, however, that such bonds shall not exceed
in amount the sum of one thousand dollars each.

To keep ac-
count.

Sec. 10. And be it enacted, That the Directors
shall keep a just and true account of all moneys
received, and shall declare dividends of so much of
the net profits of the corporation as may seem
advisable to them after deducting costs, charges
and expenses; but they in no case shall exceed the
same net profits so that the capital stock shall
never be thereby impaired.

Free tickets.

Sec. 11. And be it enacted, That every share-
holder of the Baltimore Academy of Music own-
ing ten shares or more of said stock receive as
many free tickets to the operatic, dramatic or other
exhibitions as shall be equivalent to three per
centum per annum of his, her or their subscription,

Proviso

said tickets to be estimated at current prices; pro-
vided, however, that said free tickets shall be