LAWS OF MARYLAND.

1842

by the nearest and most practicable route to the Pennsylva-
nia line, in the direction of Bedford, Pennsylvania, and by
the aforesaid name shall have succession, and shall be ca-
pable in law to have, purchase, receive, possess and enjoy
to them and their successors, such lands, tenement's and he-
reditaments, as may be found necessary for accomplishing
the objects of this act, and also goods, chattels and effects
of what kind, nature or quality soever, to an amount not
exceeding fifty thousand dollars in value, and the same to
grant, demise, convey and dispose of, to sue and be sued,
plead and be impleaded, answer and be answered, defend
and be defended, in any court of record or any place what-
soever, and also to make, have and use a common seal, and
the same to break, alter and renew at pleasure, and also to
establish and put into execution such bye-laws ordinances
and regulations as shall seem necessary and convenient for
the government of said corporation, and the management

CHAP. 231,

and conduct of their officers; provided, the same be not con-
trary to the laws and constitution of this State, or of the
United States.

Proviso.

SEC. 4. And be it enacted, That whenever shares to the
amount of ten thousand dollars shall have been subscribed,
the said company or a majority of them, shall call a gene-
ral meeting of the stockholders, to be held in the town of
Cumberland in Allegany county, or such place as may be
fixed upon, after thirty day's notice, and such of the said
subscribers as shall be present al the said meeting or a ma-
jority of them, shall be empowered to elect a president
and four directors to manage the affairs of the company for
one year, and until a new election of president and direc-
tors shall be had in the manner directed in the bye-laws of
the company, and that every subscriber shall be entitled to
one vote for every share that lic may own.

When shares
to amount of
$10, 000 have
been subscri-
bed, company
to call meet-
ing.

SEC. 5 And be it enacted, That the said stockholders or
a majority of them, shall have power to appoint the time
and direct the manner of holding elections of the president
and directors, which elections shall be annual, and the
said president and directors or a majority of them, may
provide for calling the general meeting of the stockhold-
ers upon giving thirty day's notice, may provide the mode
of transferring of the stock of the company, and of fur-
nishing evidences of ownership of the shares of said com-
pany, may have authority to fix the amount of toll to be
paid by persons using or passing along and on said road
but the legislature may regulate the amount of said tolls at
anytime hereafter.

Stockholders
to appoint the
time and man-
ner of electi--
ons.