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Sec. 5. And be it enacted, That the directors of the said
company, or a majority of them, with or without the presi-
dent, when met as a board, shall have full power to appoint
and employ, and in their discretion to remove from office,
and dismiss, all such officers, clerks, agents, mechanics, ar-
tisans, labourers, and servants whatever, as they shall deem
necessary, to attend to and transact, or execute the affairs
and business of the company, fix their compensation, and
when deemed necessary, require security for the faithful dis-
charge of their duties; to contract, agree for, purchase, rent
or hire, all such lands, buildings, chattels, materials, rights,
privileges and effects whatever, as they shall deem necessa-
sary or find convenient for effecting the objects of the com-
pany, as authorised by this act, and the same, or any part
thereof, and all articles manufactured under their direction,
to sell or otherwise dispose of; to call for monthly or other
instalments from time to time of the.capital stock subscrib-
ed, not exceeding ten dollars on each share per month, nor
on less than thirty days notice; to apply the said instalments
when received, and all other funds of the company, to ef-
fect the objects aforesaid, and in payment of the necessary
expenses of the company; to provide for declaring and pay-
ing to the stockholders dividends of the profits which shall
be made by the said company; to prescribe and provide for
the manner and evidence of transfers of the capital stock;
to provide for enforcing payment of the capital stock, and
for the forfeiture and sale of any share or shares thereof, in
for the remission of such forfeiture on such terms as they shall
all such acts, deeds and other writings, and make, revise,
alter or annul, all such by-laws, ordinances, resolutions,
rules and regulations, not inconsistent with the laws of this
state or of the United States, as the safd board of directory,
or a majority thereof, may deem necessary, useful or conve-
nient, and which shall be competent to the full and benefi-
cial exercise of, and carrying into effect the powers above
enumerated, and all other powers, rights and privileges,
granted to, and vested in, The Canton Company of Baltimore,
incorporated as aforesaid, or in the directors thereof by this
act; and in general, for the better managing and conducting
the business, and promoting the interests of the said compa-
ny, and for improving the natural and lawful advantages of
the property, rights and privileges vested in or owned by,
the said company, in as full and ample a manner, as any cor-
porate body within this state may lawfully do.
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CHAP. 159
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