1849.

LAWS OF MARYLAND.

CHAP. 377.

the aforesaid subscribers shall convene in the town of
Williamsport, or some other convenient and accessable
place upon the line of said road, and proceed to organize
said corporation by the election of the officers as afore-
said, a majority of those present, in person or by proxy,
shall determine the election, the same to be expressed
by ballot, the aforesaid commissioners, or any three of
them, acting as judges of said election.

Corporate
powers.

SEC. 4. And be it enacted, That the president and
board of managers, elected under the provisions of this
act, shall continue in office one year from the date of
their election, and shall enact, such bye-laws, rules
and regulations, not inconsistent with the laws of
this State and of the United States, as they may deem
necessary for the interests of said road, and shall give at
least three weeks notice to the stockholders in said com-
pany to convene as aforesaid, and elect in the same man-
ner a president and board of managers, to serve for
twelve months from the expiration of the term of service
of the aforementioned president and board of managers,
and so in like manner, shall notice be given, and an
election be held at the end of each year, during the con-
tinuance of this corporation, the president and board of
managers, at all times, having the power to alter, amend
or abolish the bye-laws, rules and regulations whenever
the interests of the corporation may require such change.

Incorporated,
&c.

SEC. 5. And be it enacted, That the stockholders in
said company, shall be and they ate hereby incorporated
and constituted a body politic by the name and style of
the Williamsport and Greencastle turnpike road compa-
ny, and shall have succession during the continuance of
this act, and shall be capable of taking and holding the
said capital slock, and the increase and profits, and de-
flaring dividends thereon, to increase the capital from
time to time by new subscriptions on the original terms,
and subject to the limitations of this act, and of sueing
and being sued, answering and being answered, and the
said company shall have power to make and use a seal,
and the same to alter, break, or renew, at pleasure.

Instalments—
how paid in.

SEC. 6. And be it enacted, That the sums subscribed
as hereinbefore provided for, shall be paid to the mana-

gers elected agreeably to this act, us follows, namely:
one fourth part, thereof at the end or one month after
the election of said managers, and the remainder in such
instalments and at such times as the managers may di-
rect, they giving at least three weeks notice of the pay-
ment so required, in one or more newspapers published
in said county.