PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

benefit of the company, but the president and directors
may remit any such forfeiture on such terms as they

shall deem proper.

CHAP. 487.

Sue. 4. And be it enacted, That at, the expiration of
ten days, for which the books are first, opened, if two
hundred shares, of twenty-five dollars each, of said capi-
tal slock shall have been subscribed, or if not, as soon
thereafter as the same shall be subscribed, the said com-
missioners, or a majority of them, shall call a general
meeting of the subscribers, at such time and place as
they may appoint, and shall give at least ten days pub-
lic notice thereof, and at such meeting the said commis-
sioners shall lay the subscription books before the sub-
scribers there and then present, whereupon the subscri-
bers, or a majority of them, shall elect nine directors, by
ballot, to manage the affairs of said company, which
directors, or a majority of them, shall have power to elect
a president, either from among the directors or others, and
shall allow him such compensation for his services as they
shall deem proper, and in said election, and all other
elections by the stockholders of said company, each
shall he allowed one vote for every share owned by him
or her, and every stockholder may vote either in person
or by proxy, and the commissioners aforesaid, or any
three or more of them, shall be the judges of the first
election of directors.

First election,
when held.

SEC. 5. And be it enacted, That to continue the
succession of said company, a general meeting of stock-
holders shall be held annually, at which meetings a
board of directory shall be elected as aforesaid, and other
meetings may be called of the stockholders, by the pre-
sident and directors, or a majority of them, according to
such rules as may be furnished by the bye-laws of said
company, and the board of directors may meet as often
as may be necessary for the transaction of the business
of the company.

Time of meet-
ing fixed.

SEC. 6. And be it enacted, That the company here-
by incorporated and organised, shall have power to make
and construct a continuous plank or panel road, at in-
tervals, from a point on the Baltimore and Frederick
turnpike road, at or near the seventeenth mile stone, on
said turnpike road, by or through the village of Triadel-
phia, in Montgomery county, to intersect the Union plank
or turnpike road, at any point the commissioners above
named, or the president and directors of this company,
or a majority of them, may designate, and said compa-
ny, by and with the consent of the commissioners of
Montgomery county, and of Howard district, of Anne
Arundel county, shall and may use and occupy the bed.

To make road.