WILLIAM GRASON, ESQUIRE, GOVERNOR.

1838..

votes, whatever number of shares he, she, it or they
may be entitled to.

CHAP. 354.

Sec. 5. And be it enacted, That after the first meet-
ing of the stockholders shall have been held, as here-
inbefore mentioned, there shall be a meeting of the
stockholders in the said company in Hagerstown, or
at such other place as the president and managers may
appoint, on the second; Monday in May in each and
every year, or within two days thereafter, when
and where they may elect by a plurality of votes, by

Annual election of

officers.

ballot, a president, five manager, (three of whom shall
be a quorum) a treasurer and such other officers as they
may deem necessary for the ensuing year, and until a
new election, and may by a. majority of votes present,
adopt, add to, alter or amend, such by-laws, rules, or-
ders and regulations, as may be necessary for the well
governing the affairs of the company; provided, that
they do not contravene the constitution and laws of
this State, or of the United States.

Quorum.

Sec. 6. And be it enacted, That the sums subscribed
to the stock of the said company shall be paid in the

Subscriptions pay-

able.

following manner: one dollar on each share to the com-
missioner at the time of subscribing, four dollars on
each share to the managers elected agreeably to the
provisions of this act, within one month after the elec-

at such times as the managers, or a majority of them,
may appoint, they giving two months notice of the
payment required, in one or more of the papers printed
in Hagerstown.

Instalments.

Sec. 7. And be it enacted, That the president and
managers shall have discretionary power to change the
location of the said road, from the bed of the present
road above described in the first section of this act, at
such places as they shall conceive the general interests

Change of location

authorised.

of the company and the public may require; provided,

the president and managers do not make the location

on any other land, than the beds of the aforesaid roads,
without first obtaining the free consent in writing of
the owner of such lands through which they may con-
template making the new location, or by paying the
said owner or owners, such sums of money as three
disinterested land holders living near said road, may

Proviso.