T. HOLLIDAY HICKS, ESQ., GOVERNOR.

1860.

bed of the said road whenever it may be necessary
or convenient for the proper location and construc-
tion of the said turnpike, and from Mrs. Cusack's
to the city of Baltimore, by such route as the said
corporation may deem most practicable and conve-
nient.

CHAP. 274.

SEC. 3. And be it enacted, That the capital stock
of the said corporation shall not exceed thirty
thousand dollars, divided into shares of twenty
dollars each, and the aforesaid corporators, or any
three of them, are hereby required, on the first
Monday of April next, or as soon thereafter as
practicable, and at such place or places as they may
judge best, to open a book or books for subscribers
to said stock.

Capital stock.

SEC. 4. And be it enacted, That when subscribers
to said stock, amounting to ten thousand dollars,
shall have been obtained, a majority in value of
the subscribers, shall give notice by handbills, set
up in three or more conspicuous places on the line
of said contemplated road, ten days previous
thereto, of the time and place for the said subscri-
bers to meet, for the purpose of organizing said
corporation, and the said subscribers shall, at such
time and place, choose by ballot, by a plurality of
votes of those present, a president and seven direc-
tors, four of whom shall be a quorum for the trans-
action of business, and the said subscribers shall
also at such meeting, elect a treasurer and such
other officers as they shall deem necessary for con-
ducting the affairs of said company, all which said
officers shall hold their respective offices until the
second Monday in March next ensuing their elec-
tion, and until their successors shall be elected,
and shall enter upon the duties of their office, and
at all elections each stockholder shall be entitled to
one vote for each share of stock held by him, not
exceeding twenty votes in all, and each stockholder
shall be entitled to one vote, in person or by proxy.

Officers, &c.

SEC. 5. And be it enacted, That the officers and
directors so elected, shall hold their offices for one
year, and until their successors are elected, and
enter upon the duties of their offices, and an elec-
tion for such officers and directors shall be held on
the second Monday of March in each year.

Terms of
office, elec-
tions, &c.

SEC. 6. And be it enacted, That the president
and directors of said company may adopt, from

By-laws.