1838.

LAWS OF MARYLAND.

CHAP. 354.

three days, in the manner hereinafter provided, that

then, and in the event the said commissioners, or a

May be re-opened.

majority of them, are hereby authorised and empower-
ed to cause said books to be re-opened at such times or
places as they, or a majority of them, shall think pro-
per, until the managers of the company are elected
in the manner hereinafter mentioned, unless in the
mean time the capital stock of forty thousand dollars
be subscribed for.

Right to inscribe.

Sec. 3. And be it enacted, That it shall and may be
lawful for any incorporation, or body politic, in the
State of Maryland, or any of the United States, or of
the District of Columbia, to become stockholders in
said company and to hold stock therein.

Meeting to organ-

ize.

Sec. 4. And be it enacted, That when the said nine
hundred shares of stock shall have been subscribed for,
the commissioners aforesaid, or a majority of them,
shall give twenty days public notice in one or more of
the papers published in Hagerstown, of the time and
place, to be designated by them, for the subscribers to
meet, for the purpose of organizing said corporation,

Choosing officers.

choosing by a plurality of votes by ballot, a president
and five Managers, three of whom shall be a quorum,
a Treasurer, and such other officers as they shall deem
necessary for conducting the affairs of said company,
until the second Monday in May thereafter, and until

Making rules, &c.

a new election, and for making such by-laws, rules,
orders and regulations as do not contravene the consti-
tution and laws of this State, or of the United States,
and may be necessary for the well governing the affairs
of said company; and that at such meeting for election,
or in determining any question arising at such meet-
ing, and in any election, or in determining any ques-
tion arising at any subsequent meeting, every person,
or body politic holding shares, shall be entitled to vote

Votes rated.

as follows: that is to say, for every share so held, not
exceeding three, one vote each; for any number of
shares greater than three And not exceeding ten, five
votes; for any number of shares greater than ten and
not exceeding fifty, seven votes; for any number of
shares greater than fifty and not exceeding one hun-
dred, ten votes, and for every additional hundred
shares above one hundred, ten votes; provided, that no
person or body politic shall have more than thirty