1839.

LAWS OF MARYLAND.

CHAP. 328.

any of the bays or rivers emptying into the Atlantic
ocean, and to connect thereto boats, vessels, stages or
other carriages for the conveyance of passengers, towing
of ships, vessels, rafts or arks, and the transportation of
merchandise or other articles.

Capital maybe
enlarged.

Shares.

SEC. 2. And be it enacted, That it shall be lawful for
said company hereby created, to enlarge the capital of said
company when necessary, for the purpose of increasing
the business of said company, so as the capital of said
company shall not exceed three hundred thousand dollars,
to be divided into shares of one thousand dollars each,
to be subscribed for or disposed of from time to time, in
such manner as the resolutions or by laws made in pursu-
ance of this charter shall provide.

Officers— how
chosen.

Quorum.

Votes rated.

SEC. 3. And be it enacted, That the affairs of said
company shall be managed by a president and a board of
directors, consisting of eight persons; the president and
directors to be chosen out of the stockholders of said
company; the president to be a member of said board of
directors; the said board of directors shall be elected on
the first Monday of May in each and every year, or with-
in thirty days thereafter, to continue in office until a new
election; a majority of said directors at all meetings shall
have power to act as if all were present; each stockhol-
der shall vote in person or by proxy, and shall be entitled
to as many votes as the shares of which he or she shall be
the owner.

Treasurer — his

duties.

SEC. 4. And be it enacted, That the accounts of said
company shall be kept in the city of Baltimore by an of-
ficer who shall be styled treasurer, to be appointed by the
board of directors, and to be removed by said board of
directors at its pleasure; the said treasurer to keep said
accounts and pay over the money in his hands from time
to time, to whom, and in such manner as the board of di-
rectors may direct, producing a statement of all monies,
by him received and paid away, when so directed by the
board.

Board of direc-
tors—their du-
ties and powers.

SEC. 5. And be it enacted, That the board of directors
shall have full power and authority to appoint and em-
ploy all such agents, officers, engineers, labourers and
servants whatsoever, as they may deem necessary for the
transaction of the business of the company, and may re-
move any of them at their pleasure, and to determine and
fix their salaries or wages; that they may contract, agree
for to lent, lease, purchase or build all such lands, tene-
ments, chattels, boats, vessels, stages, carriages, mate-