418

LAWS OF MARYLAND.

newspaper published in Somerset county for at
least two consecutive weeks of the time when,
and the place where the said books will be
gpened to receive subscriptions to the capi-
tal stock of the said company, as aforesaid, at
which time and place the said Commissioner shall
attend, with said subscription books, or any one of
them, and open the same, and then and there
shall permit and suffer all persons who shall offer
to subscribe in said books to the capital stock as
aforesaid, either in person or by attorney, duly au-
thorized to do so, and said books shall be kept ,
open for that purpose at least four hours every day,
Sunday excepted, for the space of three days, if
three days shall be necessary, and said commis-
sioner may adjourn from time to time, until the
whole number of shares aforesaid shall be taken or
subscribed, and when the said subscriptions shall
amount to the whole number of shares authorized
by this act to be issued, then the said books shall
be closed, unless the said company shall order

Proviso.

them to be closed sooner, provided however, that
after the election of the President and Directors of
said Company hereinafter provided for, the said sub-
scription books nor any of them, shall be opened
without the permission of said President and Di-
rectors to be entered upon the minutes of their pro-
ceedin gs by the proper officer of the company.

To call meet
ing.

Sec. 4. And be it enacted, That as soon as sub-
scriptions to the capital stock aforesaid, amount-
ing in subscriptions to the sum of five thousand
dollars, are obtained, the said Commissioner shall
call a meeting of the said subscribers to be held at
some convenient place, and the time of meeting as
aforesaid, shall be given by publication in some
newspaper published in Somerset county once a
week for two consecutive weeks by said Commis-
sioner, at which meeting the said subscribers shall
choose a President and five Directors, three of whom
shall constitute a quorum for the transaction of
the business of said Company and the management
of its affairs, and the said subscribers shall also
choose a Secretary and a Treasurer, and such other
officers as they shall determine to be necessary for
conducting the affairs of said Company, who shall
serve until the first Monday in December next
thereafter, and until their successors are chosen,