THOMAS W. VEAZEY, ESQUIRE, GOV|RNOR.

4836.

Hollman, Matthew S. Vanlear, John R. Ball, Jacob
Wolfe and, Andrew Friend, or such one of them as the
others shall authorise for that purpose, shall or may
receive subscriptions and payment for the full number
of shares required, not exceeding the limited amount
of capital aforesaid, and the amount so subscribed for

CHAP; 75.

and received shall be applied as the capital to the use
of the said company.

Applied

SEC. 5. And be it enacted, That there shall be a
meeting of the stockholders of said company annually
on the first Monday in March, for the purpose of elect-
ing a president and four directors to manage all the
concerns of the company, and the stockholders for the
time being shall vote in person or by proxy, but no per-
son shall be entitled to more than twenty votes, each
share shall be entitled to one vote, and the majority of
the whole number of votes given, shall be necessary and
sufficient to elect the president, and any two disinte-
rested .persons appointed by the board of directors, or
a majority of. them, shall receive the votes and be
judges of the election, and if from any cause an elec-
tion shall not take place on the day appointed, the
judges may appoint another day within thirty days
thereafter for an election, of which, ami of all other

Annual meet-
ings and elec-

tions

days appointed for elections, the stockholders shall be
notified in such manner as the by-laws of said company
shall provide, and until an election of president and
directors shall be made an herein provided, the business
of the said company shall be conducted and directed by
A. M. C. Cramer, William Towson, and Michael A.
Finley, who shall appoint the judges of the first election
and give the thirty days' notice to the stockholders.

Notice reqpired

SEC. 6. And be it enacted, That the president and
directors so elected as aforesaid, or a majority of them,
shall have power, and they are hereby authorised to
fix the salary of the president, and to appoint and em-
ploy so many agents," factors, clerks and other persons,
as the affairs of the company may in their judgment
from time to time require, and allow them such com-
pensation, salary or wages, as they may think proper,
and to do and perform sucli acts, and make, revise,
alter and annul all such by-laws, ordinances, rules,
and regulations, not inconsistent with the laws of the
United States, or of this State, as they or a majority

General powers