THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

such laws or ordinances and regulations as shall, by its
directors, be adjudged necessary and convenient lor the
government and management of the said company, and
the same to change, alter, repeal, and annul and re-enact;
provided, the same be not contrary to the constitution and
laws of the United States or of this State.

CHAP. 248.

Proviso.

SEC. 2. And be it enacted, That the capital stock of
said company shall consist of one thousand shares, of
twenty-five dollars each, and the president and directors
shall have power, from time to time, to increase the cap-
ital stock to such an amount as may be found necessary
for the accomplishment of the objects of this incorpora-
tion; provided, that the same does not exceed eight
thousand shares.

Capital stock
one thousand
shares of $25
each.

SEC. 8. And be it enacted, That the subscription to the
capital slock of said company, shall be received under
the directions of George W. Bennett, Robert H. Thomas,
Henry Kibler, George S. Bryan, Samuel Thompson,
James L. Craig, Benjamin S. Foulks, Benjamin Craig,
of Cecil county. Maryland, Doctor Thomas C. Kennard,
George B. Westcoat, William S. Constable, John E.

Subscription
received.

Coey and James B. Ricaud of Kent county, Maryland,
or a majority of them, who shall act as commissioners at
Such time and places as they shall designate, they giving
at least ten days previous notice in one or more newspa-
pers printed in Baltimore city, Elkton, Cecil county, and
Chestertown, Kent county, Maryland, and elsewhere, if
they deem it necessary, and each subscriber shall pay at
the time of subscription, to the commissioners receiving
the same, the sum of five dollars on each share by him
or them subscribed.

Act as com-
missioners.

Give ten days
notice.

SEC. 4. And be it enacted, That the management of
the business and concerns of said company, shall be vest-
ed in nine directors, to be elected annually, and who
shall be stockholders, agriculturalists or landholders and
citizens of the United States, any five of whom shall be
a quorum for the transaction of its business; that the first
board of directors shall be elected in the following man-
ner, viz; as soon as the commissioners shall have ascer-
tained that two hundred or upwards of shares have been

Nine directors
elected annu-
ally.

taken, they shall call a general meeting of the stockhold-
ers, by giving ten days notice, in at least one paper pub-
lished in the city of Baltimore, in Elkton, Cecil county,
and Chestertown, Kent county, Maryland, convening
them for the purpose of electing nine directors, who shall
hold their office for one year, or until a new election is

Call general
meeting.