LAWS OF MARYLAND.

1843

a director, and four other directors, to be chosen annually
by the stockholder, and to serve for the term of one year
and until others are chosen, and that until such choice of
a president and directors the said Samuel B. Barrell, Wil-
liam Ridgely and John Pickell, or a majority of them,
shall have the same power and authority as the said pre-
sident and directors would have if chosen as aforesaid,
and a majority of said directors shall constitute a quorum
for the transaction of business, and in case a vacancy
should occur in the presidency or directorship of said cor-
poration, the remaining directors shall have power to fill
such vacancy by appointing some stockholder to that
office till the next meeting of the stockholders for the

chap. 272.

choice of directors.
Sec. 6. And be it enacted, That a meeting of the stock-
holders shall be held annually at such time and place as
shall be established by the by-laws, and it shall be the
duty of the piesident and directors at said meeting to
make a report of the condition and affairs of said corpo-
ration and a special meeting of said stockholders may be
called at any time by a majority of the directors, or by
one ormore stockholders, who shall represent one fifth part
of said capital stock, of which meeting ten days privious
notice stating the object of said meeting, shall be given in
some newspaper printed in said city of Baltimore, and at
all meetings of the stockholders the owners or representa-
tives of a major part of the capital stock shall constitute
a quorum for the transaction of business and shall have
power to pass, amend, alter or repeal the by-laws, and to
remove from office any director, officer or agent of said

Annual meet-
ing of stock
holders.

corporation, and to appoint others in their stead.
Sec. 7. And be it enacted, That the said corporation
be and hereby is authorized to construct a rail road for
the purpose of transporting the produce of their mines
and manufactories to a convenient point or points on the
basin or canal of the Chesapeake and Ohio Canal Com-
pany, at or near the town of Cumberland in this State, to
be used and preserved by said corporation in perpetuity,
with all the rights, powers and privileges and subject to
all the conditions, limitations and restrictions allowed or
imposed upon the Cumberland Coal and Iron Company,
by the legislature of this state, so far as regards the right
to construct a rail road from the mines of said company
to said Cumberland.

Corporation
authorised to
construct rait
road.

Sec. 8. And be it enacted, That any company hereaf-
ter to be formed shall have the privilege of passing over
the lands of said corporation so as to connnect any lateral
rail road or roads of said company, by paying to said cor-
30

Any company
may have pri-
vilege to pass
and connect.