1836.

LAWS OF MARYLAND.

CHAP. 196.
Security of
agents

SEC. 7. And be it enacted, That the subordinate
agents shall give satisfactory security, to the president
of said company before they shall be permitted to act
as such.

By lows.

SEC. 8. And be it enacted, That the said president and
directors shall have full power and authority to make
all by-laws and regulations for the well ordering and
conducting of the business of the company and such

Alterations
thereof

regulation, may be altered or repealed by the stock-
holders at a general meeting to be. called for that pur-
pose by any ten or more stockholders: provided, that
there be present at such meeting, stockholders holding
fifty shares or their proxies, and that four weeks pre-
vious notice be. given in two of the papers printed in
the town of Cumberland of such meeting and of the

Powers of P. &
Directors

alteration or repeal, intended to be proposed thereat.
SEC. 9. And be it enacted, That the president and di-
rectors shall have power to appoint and remove at their
pleasure, ail clerks, superintendants, agents or other
officers necessary for carrying on the business of the
said company: to dispose, of its funds or property in the
manner hereinafter directed, and to fix and pay. out of

such agents, superintendants, clerks or officers: to
make such contracts, purchases or agreements of all
such matters and things in behalf of said company,
and of all such privileges, permissions, rights and ad-
vantages of every kind and nature whatsoever, as shall
be necessary for completing in an effectual and proper
manner, the introduction, distribution and supply of
water to the town of Frostburg, with any individual,
company, firm or corporation, and to use and dispose

tage of said company, and all such contracts to rescind,
niter, abridge or enlarge, with consent of the parties
thereto respectively; and to lease, sell, convey, trans-
fer and bind by their contracts, deeds and writing, un-
der the hand of the president and the seal of the company,
all the property, estate, common stock, and joint funds
of said company, subject to the ratification of the
stockholders, or a majority of them, or those holding
a majority of the votes, at some general meeting, if