1847.

LAWS OF MARYLAND.

CHAP. 306.

shall be elected as shall be provided by the stockholders
of the said corporation, and until the first election of di-
rectors shall be held the said John Withers, George
L. Ward and George H. Deane or a majority of them
shall have, full power and authority to exercise all the
corporate powers of the said company, and the said
directors and their successors, or a majority of them,
having appointed one of their number president, shall
have full power and authority to manage the affairs of said
company under such powers as may be given them in
the bye-laws of the said company, should the president
be absent the directors present shall appoint one of their
number to act in his stead, and in case of any vacancy
occurring in the presidency or direction of the said com-
pany, the remaining directors shall have the power to
fill such vacancy by appointing a stockholder who shall
act until the next general election thereafter.

General meet-

ings.

SEC. 5. And be it enacted, That the first general meet-
ing of the stockholders shall be held in Washington city,
in the District of Columbia, due notice of the time and
place of which meeting shall be given by John With-
ers, George L. Ward and George H. Deane or a ma-
jority of them in writing to each member of the com-
pany, a quorum of the company for this meeting shall be
a majority in amount of stock of all the stockholders,
and this shall be a quorum in all future meetings of the
company which shall be held annually and at such time
and place as the directors may appoint, at this meeting
it shall be the duty of the president and directors afore-
said to make a report of the whole condition of the affairs
of said company, and special meetings of the stockhold-
ers may be called at any time by the president and di-
rectors of said company, or by the stockholders there-
of who shall be proprietors of not less than one-fifth of
the capital stock of said company, by giving ten days
notice of the time and place thereof, in one or more
newspapers published in Cumberland and Baltimore,
and of the objects of said meeting, and every such
meeting of stockholders shall have power to pass anew,
alter or repeal bye-laws or resolutions which shall be
binding on the officers and agents of said company, and
shall have power to require settlements, statements and
accounts relating to the business of said company from
officers and agents in their employment, and may also
dismiss any directors and appoint others in their stead;

Proviso.

provided always, that a majority in amount of stock of
all the stockholders be represented in said meeting.