THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

to. be applied to the rearing of the mulberry, the pro-
curement of buildings, utensils, machinery and other
arrangements for making silk, and to other agricultur-
al improvements and fertilising poor lands in the
State of Maryland.

CHAP. 341.

Application.

SEC. 4. And be it enacted, That there shall be a meet-
ing of the stockholders in said company, called on the
first Monday of April in each and every year, in the
city of Baltimore, or within ten days thereafter, for the

Annual meet-
ing.

purpose of electing five directors to manage the con-
cerns thereof, who shall be elected by ballot, in person
or by proxy, and each share shall entitle the holder to
one vote.

Election.

SEC. 5. And be it enacted, That the board of direc-
tors, three of whom shall constitute a quorum, shall
appoint one of their own number president, and they
shall fill up all vacancies which may happen during

President.

the year, and they are hereby authorised to employ,
compensate and dismiss, at pleasure, all officers, agents
and servants which may be needful or beneficial to the
company, they shall establish regulations for the trans-
fer of the stock thereof, and for proof of ownership
therein, they shall have power in behalf of the compa-
ny to enter into contracts, to make purchases and sales
of real and leasehold estate and personal property, and
to prosecute all claims and titles to such estates or
property not within the State of Maryland, and to use
therefor the seal of the company; they may call for

Powers of the
board.

payments by instalments of the capital stock, or so
much thereof as from time to time they may deem ne-
cessary, and shall from time to time declare dividends
of the profits of the concern, and report to the stock-

Instalments.

holders the state of their funds; they are also authoris-
ed to make such bye-laws and regulations, and the same
to repeal at pleasure, as shall be necessary or conveni-
ent for the well conducting of the business of the com-
pany, not inconsistent with the provisions of this act
or the constitution and laws of the State of Maryland;
and shall generally have authority to exercise all the
powers and privileges conferred on, or appertaining to
this corporation.

Bye-laws.

SEC. 6. And be it enacted, That the persons herein-
before named shall constitute the board of directors of

Present officers.