|
|
CHAP. 354.
|
dollars each, and shall at no time exceed two hundred
and fifty thousand dollars, and every person who shall be
the proprietor of one share or more ot said stock, shall
be a member of said corporation, and as such, shall be
entitled at all meetings of the stockholders, to one vote
in person or by attorney, for each and every share of said
capital stock which is held by such person, and the cap-
ital stock may in whole or part, consist of, and be invest-
ed in lands, buildings, machinery, tools and materials re-
cessary or useful for carrying on the said business of said
corporation, and the shares of said capital stock shall be
be deemed personal estate, and be transferable only on
the books of the corporation, and in such manner as may
be provided and directed by the by-laws.
|
|
|
|
President nn
two directors.
|
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
March, and be elected 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
corporation may, nevertheless, hold an election at any time
within twenty days after the time fixed by this act, or
by the laws of said corporation; and the president and
directors who shall be chosen, shall act in their respec-
tive 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 officer, agent
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 provide the mode of distributing,
registering and transfer ing the capital stock of the cor-
poration 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 conducting
the business of said corporation as they may think proper,
the same not being contrary to the by laws, or to any law
of this State; and in case a vacancy shall happen in the
presidency or directors of said corporation, the stock-
holders, after ten days written notice. or by advertisement
in two of the daily newspapers published in the city of
Baltimore, at a special meeting to be held for that pur-
|
|
