1844.

THOMAS G. PRATT, ESQUIRE, GOVERNOR.

CHAP. 136.

Managers to
elect a presi-
dent.

ensuing year, nine managers as aforesaid; and the man-
agers of said company, or a majority of them, shall have
the power to appoint one or more judges of all elections,
and to elect a President of said company from among the
managers or stockholders, and to allow him a compensa-
tion for his services, if they shall deem proper, and if any
vacancy shall occur by death, resignation, refusal to act,
or removal from the county, if a president or manager, a
stockholder may be elected by the managers to fill the va-
cancy, until the next annual election; and all elections re-
quired by this act to be made on a particular day, if not
made on that day, may be made on any other day, after
thirty days notice of such election day in some newspaper

General meet-
ings may be
called by 20
stockholders.

in Frederick; and general meetings of the stockholders
may be called by any number of the stockholders not less
than twenty, nor holding less than one fourth of the whole
number of shares, to consider any general interests of the
said company; and the said general meeting, if represent-
ing more than one half of the whole number of shares in
said company, shall have power to make, alter or repeal,
by a majority of votes in manner aforesaid, all, or any of
the by-laws, rules and regulations of said managers.

Four mana-
gers to consti-
tute a board to
transact all
kinds of busi-
ness.

SEC. 7. And be it enacted, That any four of the man-
agers, including or without the president, shall constitute
a board and quorum for the transacting of all kinds of bu-
siness, and shall be competent to appoint all such officers',
agents and servants whatsoever, as they may deem neces-
sary for the transacting of the business of the company,
to fix their compensation, and dismiss them at pleasure,
to provide for requiring and taking security for the faith-
ful performance of the duty of any officer of the company,
for making all contracts which shall be necessary to effect
the purposes contemplated by this act, and for settling all
the accounts of the company, to provide for furnishing to
the stockholders certificates or other evidence of their
rights to stock, and for the transfer of stock, and the evi-
dence of such transfer, and to pass all such by-laws, as
shall be proper or necessary for exercising all the powers,
rights and privileges, vested in the company hereby in-
corporated, or in the said managers, or for the performance
of the duties required of them by this act, and the said by-
laws from time to time to alter or repeal, subject never-
theless to the revision of the stockholders, at a general
meeting, as is hereinbefore provided.

Company in
vested with all
the rights and
powers.

SEC. 8. And be it enacted, That the said company are
hereby invested with all the rights and powers necessary
for the construction of a Turnpike Road from the city of
Frederick, or some convenient point on the Frederick and