DANIEL MARTIN, ESQUIRE, GOVERNOR.

1S2S

them, may receive subscriptions from time to time to the
capital stock of the said company, in shares of one hundred
dollars each, to any amount not exceeding twenty thousand
shares; and for the purpose of obtaining any such subscrip-
tion, they shall give at Jeast ten days public notice by ad-
vertisement in two or more newspapers in the city of Balti-
more, of the time, place, number of shares, and terms of sub-
scription; and every person or corporation who shall be-
stock, shall thereupon become a member of The Canton
Company of Baltimore hereby incorporated; and every
person or corporation, on beina; divested of all shares of the
said stock, by transfer or otherwise, shall thereupon cease
to be a member of the said company; and until the number
of stockholders shall amount to twenty, and an election of
directors shall have been made, as is hereinafter provided,
the said William Palterson, Francis Price, Columbus
O'Donnell, Ely Moore, Gideon Lee, Peter Cooper, and
James Ramsay, or majority of them, shall exercise all the
corporate powers of The "Canton Company of Baltimore
aforesaid, except in the contracting for, or purchasing, any
real estate, in the same manner as the said directors, when
elected, are authorised to do by this charter.

CHAP. 159.

Sec. 3. And be it enacted, That the members of the
aaid company, after they shall amount in number to twenty
or upwards, shall annually, on the first Monday in April, in
the city of Baltimore, or at such other time or place, before
such judges, and the election to be conducted in such man
ner as by the by-laws or regulations hereafter to be made by
the directors, may be appointed, elect from the stockholder
of said company thirteen directors, of whom at least eigh
shall be and continue residents of Baltimore city or county
to serve for the term of twelve months, and until others shall
be chosen; which said directors, during their term of service
shall have the sole management and direction of the stock
property, affairs and concerns, of said company, public no
tice whereof shall be given by the directors twenty days pre
vious to holding such election, by advertisement inserted in
three of the newspapers printed in the city of Baltimore; an
the said election shall be made by such of the stockholder
of said company as shall attend for that purpose, cither in
person, or by proxy; and all elections shall be by ballot, each
share of stock, on which all instalments due have been paid
persons who shall have the greatest number of votes, shall
be the directors; and if it shall happen at any election that
two or more persons shall have an equal number of votes, so
that no choice shall have been made as to such persons, the
the stockholders herein authorised to vote at such election
shal! proceed, by ballot, a second time, and by a plurality of

Directors Pres=
dent