JAMES THOMAS, ESQUIRE, GOVERNOR.

1832.

commissioners, or a majority of them, are hereby autho-
rized and empowered to cause said books to be re-opened
at such times or places as they, or a majority of them shall
think proper, until the managers of the company are elect-
ed, in the manner hereinafter mentioned, unless in the
mean time the capital stock of thirty thousand dollars be
subscribed for.

CHAP. 125.
Re-open books. .

Sec. 3. And be it enacted, That it shall and maybe law-
ful for any incorporation or body politic, in the state of
Maryland, or any of the United States, or of the District
of Columbia, to become stockholders in the said Company,
and hold stock therein.

Authority to sub-

scribe granted

Sec.4. And be it enacted,That when the said eleven hundred
shares of said stock shall have been subscribed for, the com-
missioners aforesaid, or a majority of them, shall give twenty
days public notice in one or more of the newspapers print-
ed in Williamsport or Hagerstown, of the time and place
to be designated by them for the subscribers to meet for

Meeting to orga-

nize.

the purpose of organizing said corporation, choosing by
a plurality of votes, by ballot, a president and five manag-
ers, (three of whom shall be a quorum,) a treasurer, and
such other officers as they shall deem necessary, for con-
ducting the affairs of said Company, until the second
Monday in May thereafter, and until a new election, and

Choose president

and managers

for making such by-laws, rules, orders, and regulations, as
do not contravene the constitution and laws of this state
or of the United States, and may be necessary for the well
governing the affairs of the said Company; and that at
such meeting for election, or in determining any question
arising at such meeting, and in any election, or in deter-

Enact by-laws

mining any question arising at any subsequent meeting,
every person or body politic, holding shares, shall be enti-
led to vote, as follows: that is to say, for every share so
held, not exceeding three, one vote each; for any number
of shares greater than three, and not exceeding ten, five
votes; for any number of shares greater than ten, and not
exceeding fifty, seven votes; for any number of shares
greater than fifty, and not exceeding one hundred, ten
votes; and for every additional hundred shares above one
hundred, ten votes; Provided, That no person or body po-
litic shall have more than thirty votes, whatever number of
shares he, she, it, or they, may be entitled to.

Votes regulated

Sec. 5. And be it enacted, That after the first meeting of
the stockholders shall have been held as hereinbefore men-
tioned, there shall be a meeting of the stockholders in the
said company in Williamsport or Hagerstown, as the pre-

Annaul meetings

thereafter