1856.

LAWS OF MARYLAND.

CHAP. 218

the several subscribers, in proper proportions, to the
sums respectively subscribed by them.

Meeting to or-
ganise

SEC. 5. And be it enacted, That when the five hundred
shares of said capital stock shall have been subscribed,
and at the expiration of ton days thereafter, the said
commissioners, or a majority of them, shall call a ge-
neral meeting of the stockholders, at such time and
place as they may appoint, and shall give at least
twenty days public notice thereof; and at such meeting
the said commissioners shall lay the subscription books
before the subscribers then and there present, and
thereupon the said subscribers, or a majority of them,
shall elect eight directors by ballot, and the State shall

Four State Di-
rectors

likewise have four directors, to be appointed by the
Governor, to manage the affairs of the said company;
and on all occasions, when a vote of the stockholders
of said company is to be taken, each stockholder shall

Votes rated

be allowed one vote for every share owned by him, her
or them.

Annual elec-
tions

SEC. 6. And be it enacted, That the stockholders
in said company, or a majority of them, in value, shall
on the first Monday in May, after the organization of
the company as directed in the next preceding section
of this act, and on the first Monday of May in each
and every year thereafter, elect by ballot as aforesaid,
for the ensuing year, eight directors as aforesaid, to-
gether with four in behalf of the State as aforesaid:
and the directors of said company, or a majority of

Judges

them, shall have power to appoint one or more judges
of all elections, and to elect a president as aforesaid,

Vacancies

and to allow him a compensation for his services, if
they shall deem proper, and may fill all vacancies oc-
curring in their body, until the next annual election;
and all elections required by this act to be made on a
particular day, and not made on that day, may be made

General meet-

ings

on any day thereafter, within one month after the thirty
days public notice thereof; and general meetings of the
stockholders during the interval between their stated
annual meetings may be held, by the president and di-
rectors, or a majority of them, or by any number

Notice

of stockholders holding the fourth of the stock of the
said company; provided, that public notice of at least
thirty days, ef the time and place of holding such