1846.

LAWS OF MARYLAND.

CHAP. 112.

in person, or by proxy appointed under his, her or their
hand and seal, one vote for every share of stock which
he, she or they shall hold in the company, on which all
the instalments due shall have been paid.

Stockholders
shall meet an-
nually.

SEC. 3. And be it enacted, That the stockholders of
the said corporation shall meet annually, on the first Mon-
day in June, or on such day within sixty days thereafter,
and at such place in the city of Baltimore as the direc-
tors shall appoint, for the purpose of electing from among

the stockholders, seven directors, who shall choose a

filed 7 direc-
tors — choose a
president.

president from among their own number, and a majority
of whom may fill all vacancies which shall occur in their
own body, or in the office of president, by death, resig-
nation or ceasing to be a stockholder, until the next an-
nual election, but no captain or agent while in the employ
of the company, shall be eligible as a director or capa-
ble of continuing to act as such; and the directors who
may be elected by said stockholders on the first day of
April next, are hereby continued and constituted directors
under this charier, with full light to act and exercise all
the powers of directors of the said company until the
first Monday in June next, and until a new election of
directors as provided by this act shall take place; and

that the person chosen by said directors, president, is
in like manner continued and vested with ail the powers
of president of said company under this charter, until a
new election shall be made as aforesaid.

Directors to
appoint, &c.
others, &c.

SEC. 4. And be it enacted, That the directors of the
said company, or a majority of them, shall have full
power to appoint and employ, and in their discretion to
remove or dismiss a secretary, a treasurer, and all such
officers, clerks, agents, mechanics, laborers and servants
as they shall deem necessary, from time to time, to at-
tend to and transactor execute all the affairs and business
of the company, and fix their compensation; to contract,
agree for, and purchase, rent or hire, all such lands,

Contract, pur-
chase, &c.

chattels, rights and privileges, materials and effects
whatever, and to make and repair, or cause to be made
and repaired, all such wharves, boats, vessels, roads,
carriages and other conveniences, as they shall deem
necessary for effecting the object of the company autho-
rised by this charter; and the same or any part thereof
in their discretion to sell or otherwise dispose of; to apply
the funds of the company so far as .may be necessary
for effecting the objects aforesaid, and in payment of the
necessary expenses of the company, and to pass all
such resolutions and by-laws as may be necessary to