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CHAP. 133.
Officers to be
a president &
two directors.
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only on the books of the corporation, and in such man-
ner as may be provided and directed by the by-laws,
SEC. 3. And be it enacted, That the officers of this
company shall be a president and two directors, who
shall be chosen by the stockholders from among them-
selves at their first meeting after the passage of this act,
and shall serve until the first Monday of the succeeding
February, and annually thereafter on the same day, or
on such other day as the by-laws may provide, and in
case such election shall not be so held, the said corpora-
tion may, nevertheless, hold an election at any time with-
in twenty days after the time fixed by this act, or by the
by-laws of said corporation, and the president and direc-
tors who shall be so chosen, shall act in their respective
offices until successors shall be chosen, and they, or a
majority of them, shall have full power and authority to
appoint, compensate and remove such officers, agents
and servants as they may deem necessary in the business
of said company; also to contract for and purchase such
real and personal estate, and erect all such buildings and.
improvements as they may think necessary to carry into
effect the object of said company, and the same, or any
part thereof, to sell, convey or otherwise dispose of at
their discretion; also to prescribe the mode of distribut-
ing, registering and transferring the capital stock of the
corporation, and the certificates thereof, and to declare
and pay annual, or other dividends of the nett profits of
said company, and generally to do all such acts for con-
ducting the business of said corporation as they may
think proper, the same not being contrary to the by-
laws, nor to any law of this State; and in case a vacancy
shall happen in the presidency or directorship of said
corporation, the stockholders, after ten days notice,
either written or by advertisement in two of the daily
papers published in the city of Baltimore, at a special
meeting to be held for that purpose, shall fill the same
from among the stockholders, to serve until the next an-
nual election, and for the transaction of any business
hereby confided to said president and directors; at any
meeting of the stockholders the board of directors may
be increased to a number not exceeding six; a majority
of president and directors shall, at all their meetings, be
a quorum.
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General
meeting of the
stockholders.
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SEC. 4. And be it enacted, That the general meetings
of the stockholders shall be called by the president and
directors, or as the by-laws may direct, and that special
meetings may be called at any time by the president or
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