PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849;

Michael Newcomer, George ———— , Doctor William
A. Riddlemoser, and Henry Newcomer, on the second
Monday in May next, and continue open for three days
inclusive, and in the event of fifteen hundred shares of
said stock not being subscribed for, at the expiration of
said three days, in the manner hereinafter provided, that
then, and in that event, the said commissioners, or a
majority of them, are hereby authorised and empowered
to cause said books to be re-opened at such times and
places as they, or a majority of them, shall think pro-
per, until the managers of the company are elected in
the manner hereinafter mentioned, unless, in the mean-
time, the capital stock of thirty thousand dollars be sub-
scribed for.

CHAP. 416.

SEC. 3. And be it enacted, That it shall and may
be lawful for any incorporation or body politic in the
State of Maryland, or any of the United States, or of
the District of Columbia, to become stockholders in the
said company, and hold stock therein.

Who may be-
come holders of
stock.

SEC. 4. And be it enacted, That when the said fifteen
hundred shares of said stock shall have been subscribed for,
the commissioners aforesaid, or a majority of them, shall
give three weeks public notice, in one or more of the
newspapers printed in Hagers city and Boonsboro', of
the time and place to be designated by them for the
subscribers to meet for the purpose of organizing said
corporation, choosing by a plurality of votes, by ballot, a
president and five managers, three of whom shall be a
quorum, a treasurer, and such other officers as they shall
deem necessary for conducting the affairs of said com-
pany, until the second Monday in May thereafter, and
until a new election, and for making such bye-laws,
rules, orders and regulations as do not contravene the
constitution and laws of this State, or of the United
States, and may be necessary for the well governing the
affairs of the said company, and that at such meeting for
election, or in determining any question arising at any
subsequent, meeting, every person or body politic, hold-
ing a share or shares, shall be entitled to vote as follows,
that is to say: for every share so held, not exceeding
three, one vote each; for every number of shares greater
than three, and not exceeding ten, five votes; for any
number of shares greater than ten, and not exceeding
fifty, seven votes; for every number of shares greater
than fifty, and not exceeding one hundred, ten votes;
for every additional hundred shares above one hundred,

When to go in-
to operation.

ten votes; provided, that no person or body politic shall
have more than thirty votes, whatever number of shares
he, she or they may be entitled to.

Proviso.