1860.

LAWS OF MARYLAND.

CHAP. 305

establish such by-laws and regulations as shall be
necessary or convenient for conducting the affairs
of the corporation not repugnant to law.

The company
— its objects
&c.

SEC. 2. And be it enacted, That the objects of
said corporation are said to be the mining of copper
ores, and for which purpose they are hereby au-
thorised to purchase, hold and sell land in fee sim-
ple or otherwise necessary for the conducting of the
business, and to erect thereon all needful and con-
venient buildings; that the capital stock of said
corporation shall not be less than one hundred and
fifty thousand dollars, nor more than five hundred
thousand dollars.

Business —
how managed

SEC. 3. And be it enacted, That for the manage-
ment of the affairs of the company, the stockholders
shall elect a president and not less than five direc-
tors, who shall remain in office for one year or until
successors be elected, a majority of whom shall con-
stitute a quorum or board; that a majority of stock-
holders shall call a meeting, upon advising all the
stockholders by advertisement in one of the news-
papers published in said county or the city of Bal-
timore at least twenty days previous to the time
and place of holding such meeting.

Stock deemed
personal es-
tate.

SEC. 4. And be it enacted, That the stock of said
company shall be esteemed personal estate, and that
all the property, estate and joint stock of the cor-
poration shall be bound and answerable for its debts
and liabilities.

Construction.

SEC. 5. And be it enacted, That nothing contained
herein, shall be construed as granting banking
privileges to said corporation or exempting their
property or effects from general taxation.

Reservation.

SEC. 6. And be it enacted, That the Legislature
reserves to itself the right to alter or amend this
act of incorporation whenever the public interests
may require it.