PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1847,

receive the rents, issues and profits thereof, to be divid-
ed among the stockholders after the payment of all debts,
expenses and repairs, in the manner hereinafter pro-
vided.

CHAP. 76.

SEC. 5. And be it enacted, That the affairs of said
corporation shall be managed and conducted by a board
of managers, to consist of a president and five managers
to be elected annually, at such time and in such mode as
may be prescribed by the bye-laws, and to hold office
until their successors shall be appointed, and the said
board shall appoint annually either one of their own
body or any other member of the corporation, to be se-
cretary and treasurer of said association, who shall give
bond as treasurer to said corporation, in such penalty as
the said bye-laws shall prescribe, conditioned for the
faithful discharge of the duties that may be assigned him
by virtue of this act, or the bye-laws thereunder to be
passed, and whose compensation shall from time to time
be fixed by said board or regulated by the bye-laws.

Officers— how
& when elec-

ted.

SEC. 6. And be it enacted, That the three subscri-
bers first hereinbefore named, or in their default, any
other three subscribers, shall call a general meeting of
said stockholders within thirty days from and after the
passage of this act, by first giving at least ten days notice
by advertisement published in the newspapers of Ha-
gerstown, of the time and place of such meeting, at
which meeting the president and managers for the
ensuing year shall be elected, the necessary bye-laws
passed, and such other business transacted as may be
deemed needful and expedient, and at such and all other
meetings of the stockholders, the mode of voting upon all
questions arising for their determination, except other-
wise by general consent, shall be regulated by the num-
ber of shares of stock held by each, as follows: for one
share and less than five one vote, for five shares and less
than ten two votes, for ten shares and less than twenty
three votes, for twenty shares and less than forty four
votes, and for forty shares and above five votes; and that
all female subscribers to the joint stock of said company
shall be entitled to vole by proxy at the said first and
all other meetings thereafter of the stockholders, and the
same privilege shall be and is hereby allowed to such
as may be sick or absent from the county, or may re-
side beyond the limits of the town of Hagerstown.

General meet-
ing — mode and
manner of vot-
ing regulated.

SEC. 7. And be it enacted, That a general meeting
of the stockholders may be called by the board of mana-

gers at any time deemed expedient by them, or when
requested so to do by any ten stockholders, but there

Duty of offi-

cers.