A. W. BRADFORD, ESQUIRE, GOVERNOR.

ciates as aforesaid, shall not exceed in the whole
the sum of twenty-five dollars per share.

77

Sec. 6. And be it enacted. That the management
of said corporation shall be vested in a board of
seven directors to be elected by the stockholders
thereof, at a general meeting to be convened for
that purpose, at some certain time in Baltimore
city, to be prescribed by the by-laws of said cor-
poration, and after fifteen days notice given of such
election by advertisement in some two or more of
the daily newspapers printed in the city of Balti-
more. The first election shall be held at the office
of the Baltimore City Passenger Railway Associa-
tion in the city of Baltimore, between the hours of
ten o'clock, A. M., and three o'clock, P. M., on
the fourth Wednesday in the month of May next
succeeding the passage of this act, and if any
elections of directors, including the first, shall not
be made on the days appointed as aforesaid, such
may be made after like notice at any time within
three months thereafter; and the Treasurer and a
majority of the seven directors of said company
shall be citizens of Maryland. The directors for
the time being shall hold and exercise their office
until such new election shall be made, and until
the acceptance thereof by the new board, or the
major part of the members thereof, and any va-
cancy which may happen in any board of directors
by refusing to serve or otherwise, shall be filled by
the remaining members thereof. In all elections
and on all questions touching the business and
affairs of said corporation at a general meeting of
the stockholders, each share shall be entitled to
one vote, to be given by the stockholders in person
or by proxy, in such form as the by-laws shall
determine.

Affairs of the
corporation —
how managed.

Sec. 7. And be it enacted, That every board of
directors at its first meeting, or as soon thereafter
as may be practicable, shall appoint one of their
own number to he President of said corporation,
and they shall also have power to appoint a Trea-
surer, and such other officers and agents as may
be deemed necessary for the transaction of the
business of the corporation, and any of the same
to remove at pleasure, and to reappoint and to de-

Appointment
of President,
Treasurer, and
other officers.

fine their duties and fix their compensations, to
declare dividends of profits and to exercise all

Dividends, &c.