1860.

LAWS OF MARYLAND.

CHAP. 265.

directors of said company shall be annually held
thereafter, at such times and places as the by-laws
of said company may prescribe, and the said direc-
tors of said company shall have all the powers and
authority given to them by this act, and such other
power and authority, not inconsistent with the
provisions of this act, as may be conferred on them
by the resolutions and by-laws of said company.

Directors.

SEC. 4. And be it enacted, That the directors of
said company shall consist of such number, not less
than five nor more than ten, as the by-laws of said
company may prescribe, all of whom shall be stock-
holders in said company, and the president and
directors of said company shall have power to ap-
point and remove all officers, servants, and agents
of the company, to manage and conduct all its
business of every kind, to borrow money at any
time and from time to time, for the uses of the said
company, and to execute, if deemed by them ne-
cessary and expedient, any deed or deeds of mort-
gage or trust, as security for the payment and
fulfilment of any or all of its debts, contracts and
liabilities.

Meetings.

SEC. 5. And be it enacted, That all meetings of
the stockholders of said company, may be held
either in the city of Cumberland, the city of Balti-
more or the city of New York, as the directors of
said company may from time to time appoint; and
all meetings of the president and directors of said
company, may also be held at either of the above
named places, which the president of said company
may from time to time appoint; and in all meet-
ings of the stockholders, a majority of said stock-
holders, and in all meetings of said president and
directors, a majority of said president and directors
shall constitute a quorm for the transaction of busi-
ness.

Rights vested.

SEC. 6. And be it enacted, That the said com-
pany be and the same is hereby invested with all
and singular the rights, power and authority,
necessary to enable it to locate, construct and main-
tain such railroad or railroads, as the directors may
deem necessary for the convenient transaction of its
business, and for these purposes, the said company
shall be and is hereby invested with all and singu-
lar, the rights, powers, immunities, franchises and
privileges, for the surveying, locating and con-