T. WATKINS LIGON, ESQUIRE, GOVERNOR.

345

SEC. 2. And be it enacted, That for the making
of the said road, subscription books for a capital stock
of forty thousand dollars, in shares of twenty-five dol-
lars each, shall be opened at Bel-Air, by or under the
direction of all or a majority of the following commis-
sioners, to wit: Thomas A. Hays, Sr., Otho Scott,
Evans S. Rogers, Abraham J. Street, Ignatius Rut-
ledge, William Galloway, Charles H. Raitt, Samuel B.
Walton and Ignatius McAtee, on or before the first day
of October, eighteen hundred and fifty-four, and con-
tinue them open until two hundred shares of said slock
shall be subscribed for, and until the managers of the
company are elected, in the manner hereinafter men-
tioned, unless in the meantime the whole of the capital
stock be subscribed for.

Subscription
books to be
opened.

SEC. 3. And be it enacted, That when the said two
hundred shares of stock shall have been subscribed for, the
commissioners aforesaid or a majority of them, shall give
twenty days public notice in one or more of the public
papers published in Harford county, of the time and
place to be designated by them, for the subscribers to
meet, for the purpose of organizing said company, by
choosing by plurality of votes by ballot, a president and
eight directors, any five of whom shall constitute a quo-
rum, a treasurer, and such other officers as they shall
deem necessary, for the conducting the affairs of said
company, until the first clay of January, eighteen hun-
dred and fifty six, and until a new election, and for
making such rules, by-laws, orders and regulations, as
do not contravene the constitution and laws of this State
or of the United States, as may be necessary for the
well governing the affaire of said company, and at such
meeting for election or in determining any question
arising at such meeting, and in any election or in deter-
mining any question arising at any subsequent meeting,
every person or body politic holding shares shall be en-

Organization.

titled to vote one vote for each share so held; Provided,
that no person or body politic shall have more than
forty votes, whatever number of shares he, she, it or
they may be entitled to.

Proviso.

SEC. 4. And be it enacted, That after the first meet-
ing of stockholders shall have been held as hereinbefore
mentioned, there shall be a meeting of the stockholders
in the said company in Bel-Air or at such other place as
the president and directors may appoint, on the first
Monday of January in each and every year after the
said first day of January, eighteen hundred and fifty-six,
when and where they shall elect in the manner pre-

First meeting.