1836.

LAWS OF MARYLAND.]

CHAP. 298.

the time of subscribing; the call for further instal-
ments: the forfeiture of stock for non-payment of in-
stalments; the election and continuing the succession
of the president and directors; the mode of voting and
filling vacancies; the general meeting of the stockhold-
ers, and manner of calling the same, witli their pow-
ers, the powers of the president and directors, with
the mode of their qualification, shall be the same as is
described in the third, fourth, sixth, seventh, eighth,
ninth, tenth, twelfth, and thirteenth sections of the
aforesaid art, to incorporate the Baltimore and Ohio
Rail Company; provided however, that the number of
directors to be voted for to manage the affairs of said
company, shall not exceed six.

State directors

SEC. 4. And be it enacted, That on a subscription be-
ing made on behalf this State as hereinafter provided,
the Governor and Council shall have power to appoint
annually one director, for every one hundred thousand
dollars which shall be subscribed on behalf of the
State, and said stock shall not be voted for at elec-
tions for directors as hereinbefore provided.

President end
directors em-
powered to con-
struct, &c.

SEC. 5. And be it enacted, That the president and di-
rectors of the said company, shall be, and they are
hereby invested with all the rights and powers neces-
sary to the construction and repair of a rail road from
the city of Annapolis, to connect with the Baltimore
and Washington Rail Road, not exceeding sixty-six
feet in width, with as many sets of tracts as the said
president and directors, or a majority of them may
think necessary, and for this purpose the said presi-
dent and directors may have and use all the powers
and privileges, and shall be subject to the same obli-
gations that are provided in the fourteenth, fifteenth,
sixteenth, seventeenth, eighteenth, nineteenth, twenti-
eth, twenty-first, twenty-second and twenty third-sec-
tions of the aforesaid act, entitled, an act to incorpo-
rate the Baltimore and Ohio Rail Road Company.

Charge tolls

SEC. 6. And be it enacted, That the said president
and directors shall have power in their discretion to
charge such tolls for the transportation of passengers,
goods, produce, merchandize and property of any de-
scription on their said road, as shall produce a nett re-
venue not exceeding ten per cent per annum on the
cost of the said Annapolis and Elk Ridge Rail Road,