1860.

LAWS OF MARYLAND.

CHAP. 110

same day in each and every year thereafter, by the
stockholders, in person or by proxy, of the capital
stock of said corporation, by a plurality of votes,
and the directors so elected shall serve, by virtue of
such choice, until the first Monday of May next
ensiling the time of such election, except in case of
failure of election on the day appointed, and in
that case until the said election shall actually take
place by the direction of the president and directors
of said company, and the said directors shall, at
their first meeting after such election, choose one
of their number president; and the said corpora-
tion shall not in the event of an election not occur-
ring on the day prescribed for the annual election,
be deemed to be dissolved, but it shall be lawful on
any other day within sixty days thereafter, to hold
and make an election, in such manner as may be
prescribed by the said board of directors; and in
case of the death, resignation, or removal out of
the counties of Talbot and Caroline of any direc-
tors, the said board may select another person to
supply his place until the next election; and in
every election for directors, each stockholder shall
be entitled to vote as follows: for every share from
one to ten, one vote each; every share above ten
and not exceeding twenty, one vote for every two
shares; and every share above twenty, one vote
for every five shares.

Commission-
ers to open
books.

SEC. 4. And be it enacted, That Jas. F. Holmes,
William H. Gooter, and William H. Smith, of
Caroline county, and John W. Cherzer, James H.
Grace, Walter H. Thompson and Henry H. Golds-
borough, of Talbot county, be and they are hereby
appointed commissioners to open subscription books
and collect whatever may be subscribed, for the
erection of said bridge.

Treasurer
and other offi-
cers — how
appointed.

SEC. 5. And be it enacted, That the president and
directors for the time being shall have power to
appoint a treasurer, secretary, toll-gatherers and
such other officers and servants as they shall deem
necessary, and may demand such security as they
shall appoint for the faithful discharge of the trust
and duties of such office respectively.

Right to
transfer stock.

SEC. 6. And be it enacted, That the president
and directors first to be chosen as aforesaid, shall
procure certificates, to be written or printed, for
all the shares of stock of the said company, and