302

LAWS OF MARYLAND.

General
meeting.

SEC. 6. And be it enacted, That whenever the said
company shall be organised, before proceeding to the
prosecution of its business, a general meeting of the
stockholders shall be held in the city of Baltimore, or
in the city of New York, at such time and place as the
directors for the time being, may appoint, and of which
appointment notice shall be given for at least two weeks
by advertisement once a week in a newspaper in each
of the cities of Baltimore and New York, and that at
such meeting five persons all of whom shall be stock-
holders of said company shall be chosen as directors of
said company to serve for one year thereafter, and until
the next election shall be held, and that annually there-
after either at Baltimore or New York as may in there
behalf, be appointed by the directors, for the time being
like previous notice being given, a general meeting of
the stockholders shall be held for the election of five
directors for the succeeding year, and if from any cause
it shall so happen that on election shall not be made
on the appointed day, the said company shall not be
deemed for that cause to be dissolved, but such election
may be afterwards made on any day which may bo
appointed for that purpose by the directors for the time
being, notice thereof being given as aforesaid, and the
said directors of said company, shall have and exercise
all the powers and authority given to them by this act,
and such other powers and authority not inconsistent
with the provisions of this act, as may be conferred
upon them by the resolutions and by-laws of said
company.

Quorum.

SEC. 7. And be it enacted, That the directors of
said company, three of whom shall always constitute a
quorum for the transaction of business shall select one
of their own number to act as president of said compa-
ny, who shall have such powers and authority, and
perform such duties as president as may be prescribed
by the by laws of sard company, and the said directors
shall have power to appoint and remote all officers,
agents and servants of the said company, to manage
end conduct all its business of every kind; to borrow

Authority to
borrow money.

money at any time, and from time to time, as in their
judgment, the exigencies of the company may require,
and to execute if deemed by them necessary and ex-
pedient, any deed or deeds of mortgage as security for
the fulfilment by said company of any of its contracts
or other liabilities.

Authority to
locate road,
&c.

SEC. 8. And be it enacted, That the said company
be and is hereby invested with all and singular, the