1849.

LAWS OF MARYLAND.

CHAP. 469.

holders of said company are not present, in person or
by proxy, such meetings shall be adjourned, from day
to day, without transacting any business, for any tune
not exceeding three days, and if within said three days,
stockholders, having a majority, in value, of the stock
subscribed, do not thus attend, such meeting shall be
dissolved.

Annual state-

ment.

SEC. 8. And be it enacted, That at the regular an-
nual meetings of the stockholders of said company,
it shall be the duty of the president and directors in
office for the preceding year, to exhibit a clear and
distinct statement of the affairs of the company, that at
any called meetings of the stockholders, a majority of
those present may require similar statements from the
president and directors, whose duly it shall be to furn-
ish them when thus required, and that all general
meetings of the stockholders, a majority in value
of all the stockholders in said company, may remove
from office any president or any of the directors of

To make oath.

said company, and may appoint others in their stead.
SEC. 9. And be it enacted, That every president
and director of said company, before he acts as such,
shall swear or affirm, as the case may be, that he will
well and truly discharge the duties of his said office,
to the best of his skill and judgment.

President and
directors.

SEC. 10. And be it enacted, That the president and
directors, or a majority of them, may appoint all such
officers, engineers, agents or servants whatsoever, as
they may deem necessary for the transaction of the
business of the company, and may remove any of
them at their pleasure, that they, or a majority of them,
shall have power to determine by contract the com-
pensation of all the engineers, officers, agents or ser-
vants in the employ of the said company, and to de-
termine by their bye-laws, the manner of adjusting
and settling all accounts against the company, and
also the manner and evidence of transfers of stock in
said company, and that they, or a majority of them,
shall have power to pass all bye-laws which they
may deem necessary or proper for exercising all the
powers vested in the company hereby incorporated,
and for carrying the objects of this act into effect; pro-

Proviso.

vided only, that such bye-laws shall not be contrary
to the laws of the United States, or the laws of any
of the States assenting to this act, or any of the pro-
visions of this act.

Capital may be
increased.

SEC. 11. And be it enacted, That if the capital
stock of said company shall be deemed insufficent for
the purposes of this act, it shall and may be lawful for