DANIEL MARTIN, ESQUIRE, GOVERNOR.

1828

of the Vine, and by the same name shall have perpetual
succession, and be able to sue and be sued, in any court
of law or equity, and to have a common seal, and the same
to change so often as they shall think fit, and to establish
such by-laws and regulations as shall appear necessary for
conducting the affairs of the company, not being contrary
to this act, nor to the constitution or laws of this state,
or of the United States.

CHAP. 90.

Sec. 2. And be it enacted, That the capital of the said
company shall be three thousand dollars, to consist of three
hundred shares of ten dollars each, and the amount of said
stock may be called in by the president and directors in
such proportions, and at such times and places, as they may
appoint, upon giving one month's notice in at least two
newspapers published in the city of Baltimore, but all the
shares at present unsubscribed for, shall be disposed of
by them for the benefit of the institution.

Capital

Sec. 3. And be it enacted, That if they deem it expedi-
ent, a general meeting of the stockholders may, at any time
hereafter, increase the capital of the company to twelve
thousand dollars, or any intermediate sum, provided that at
the meeting, there be present, and in favour of the increase,
the owners of two thirds of the stock subscribed and duly
paid for.

May be increased

Sec. 4. And be it enacted, That the stockholders shall
meet on the first Monday of April, in the year eighteen
hundred and twenty nine, and annually thereafter on the
first Monday of September, at such placein the city of Bal-
timore as the president and directors shall appoint, and shall
there elect, by ballot, twelve directors, who shall have pow-
er to appoint from their own body, and from amongst the
stockholders indifferently, a president, a vice-president, a
treasurer, a recording secretary, and a corresponding secre-
tary.

Annual meetings

Sec. 5. And be it enacted, That in all questions whereon
the votes of the stockholders are to be taken, each stock-
holder shall be entitled to as many votes as he holds shares,
and he may vote either personally or by proxy.

Votes

Sec. 6. And be it enacted, That in the absence of the
president, the vice-president shall act, and in the absence
of them both, the directors may appoint some one to serve
in their place for the time

In president's ab-

sence some other

may be appointed

Sec. 7. And be it enacted, That the president and direc-
tors shall have power to fill up all vacancies that occur, be-
tween the annual meetings, in their own body, in the pre-
sidency, vice-presidency, treasury, and secretaryships.

Vacancies

Sec. 8. And be it enacted, That at meetings of the di-
rectors, the president, vice-president, treasurer and secre-
taries, shall be entitled to vote, and a quorum for business

Quorum