THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

rity of them shall determine upon, of which time and
place due public notice of at least ten days shall
be given, and a majority of the members who shall at-
tend the said meeting, either in person or by proxy,

CHAP. 61.

shall select from their number by ballot, a president and
six directors, or such greater number as the said stock-
holders may determine upon, not exceeding twelve,
who shall manage the affairs and transact the business
of said company until the first annual meeting herein-
after provided for, and until a new election of officers
shall have been had in the manner directed by the bye
laws of said company as hereinafter provided to be
made, and the said stockholders may demand and take

Elect managers.

from the officers so elected such security as may be
fixed on by the bye laws, conditioned for the faithful
discharge of their respective duties and due appropria-
tion of all monies belonging to said company.

Securities.

SEC. 4. Be it enacted by the authority aforesaid,
That the members of the said company, after the same
shall have been organized as hereinbefore directed, shall

Annual election.

meet annually on the second Monday in April, in the
city of Baltimore, or at such other time and place as by
the bye laws and regulations of said company may be ap-
pointed whereof public notice of at least twenty days
in some of the daily newspapers shall he given, and a
majority of the members who shall attend the said meet-
ing, either in person or by proxy, shall elect from
amongst the said stockholders one person to serve as

2d Monday in
April.

President, and six or more persons, as may be deter-
mined on, to serve as Directors, whose term of office
shall be twelve months, and until others shall be duly
elected to succeed them; which said president and di-
rectors, during their term of service, shall have the

President.

sole management and direction of the said stock, pro-
perty, business affairs and concerns of said company:
each share of said stock, upon which all instalments
due have been paid, shall entitle the holder thereof to
one vote, and the person or persons having the greatest

Powers conferr-
ed.

number of votes shall be elected to the office designated
by such votes; and if it shall happen at any election
that two or more persons shall have an equal number
of votes, so that no choice shall have been made as to
9

Votes rated.