1808.

NOVEMBER, LAWS OF MARYLAND.

CHAP.
LXXVIII.
Duration.

VI. This act. to continue until the tenth day of October, eighteen hundred and ten, and until the
end of the next session of assembly that shall happen thereafter.

CHAP. LXXIX.

Passed 24th of
Dec. 1808.

An ACT to incorporate the president and directors of the Baltimore
water company.

Preamble.

WHEREAS William Cooke, John M'kim, James A. Buchanan, John Donnell, Solomon Etting,
James Mosher, Jonathan Ellicott, John Hollins, and other citizens of this state, have formed
themselves into a company, and raised a large sum of money, for the purpose of introducing a
copious supply of wholesome water into the city of Baltimore, which they have nearly completed,
to the great accommodation and benefit of the inhabitants of said city;

Persons incor-
porated, &c.

II. BE IT ENACTED, by the General Assembly of Maryland, That the said William Cooke, John
M'Kim, James A. Buchanan, John Donnell, Solomon Etting, James Mosher, Jonathan Ellicott and
John Hollins, and such other persons as have subscribed and joined, or shall hereafter subscribe and
join, the said company, on the same terms with the original subscribers, be and they are hereby
incorporated and made a body politic, for the purpose herein after declared; and that the said body
politic shall be known and distinguished by the appellation of The President and Directors of the
Baltimore Water Company, and shall have full and ample power and authority to do, perform and
execute, all and every matter and thing which any similar corporation may or rightfully can do, and
shall have perpetual succession, and to that end, and for perpetuating the said incorporated body,
the individuals composing the said company, at or before the passage of this act, their heirs, execu-
tors, administrators or assigns, shall be, and are hereby declared to be, members thereof, and by
the name aforesaid may sue and be sued, answer and be answered, in any court of law or equity in
this state or elsewhere.

Capital stock,
&c.

III. AND BE IT ENACTED, That the capital stock of the said corporation shall not exceed two
hundred and fifty thousand dollars, to be divided into five thousand shares of fifty dollars each; and
that subscriptions to the said capital stock shall be opened, and kept open, under the direction of the
said president and directors, until the aforesaid number of shares shall be subscribed, unless the said
sum is now subscribed.

Corporation to
meet, &c.

IV. AND BE IT ENACTED, That the said corporation shall meet on the first Monday in May next,
in the city of Baltimore, and as often thereafter as the said corporation may adjudge convenient and
necessary; and the said corporation, or such as shall be present in person, or by their proxy, shall
elect, by ballot, out of the members of the said corporation, six directors, to serve for one year,
and until successors to them shall be chosen; and the said corporation shall annually thereafter, on
the first Monday in May, or within ten days thereafter, in like manner, elect six directors, to serve
for one year, and until successors to them shall be chosen; and the said directors, immediately after
their appointment, and so after every subsequent appointment as aforesaid, shall choose from among
the stockholders, by ballot, a president, to serve for one year from the time of his appointment, or un-
til the next election of directors and a successor shall be appointed; and the said president, and his
successor, for the time being, shall always be entitled to vote as a director, and shall perform such
duties, and receive such compensation for his services, as the president and directors shall from time
to time appoint and allow; and in case any director shall be chosen president, the remaining directors
shall immediately choose, by ballot, from among the stockholders, a person to supply his place, and
whenever a vacancy shall happen in the office of president or directors by death, removal from the
state, or otherwise, the same shall be immediately filled by the directors until the next election, by a
choice to be made from among the stockholders, by ballot.

Who are enti-
tled to vote,
&c.

V. AND BE IT ENACTED, That in the choosing directors, all persons or bodies politic, holding stock
in the said company, shall vote agreeably to the number of shares they may hold, in the following
proportion; that is to say, for one share, and not exceeding two shares, one vote each; for every
two shares above two, and not exceeding ten, one vote; for every four shares above ten, and not
exceeding thirty, one vote; for every six shares above thirty, and not exceeding sixty, one vote;
and for every eight shares above sixty, one vote; but no person or body politic shall be entitled to
more than eighty votes.

Powers of the
president, &c.

VI. AND EE IT ENACTED, That the said president and directors shall have full power and autho-
rity to make all by-laws, rules and regulations, for the well ordering and conducting of the business
of the company, and such by-laws, rules and regulations, to alter, change and annul, at their plea-