LEVIN WINDER, ESQ. GOVERNOR.

77

emolument of the company, and to vote as aforesaid
at the meetings thereof.
7. AND BE IT ENACTED, That the said pre-
sident and managers shall meet at such times and pre-
ces as shall be ordained by the by-laws of the compa-
ny, and when met, three members with or without the
president shall form a quorum, who, in the absence of
the president may choose a chairman, and shall keep
minutes of all their transactions, fairly entered in a
book; and a quorum being formed, they shall have
full power and authority to appoint all such surveyors,
engineers, superintendants and other officers, as they
shall deem necessary to carry on their intended works,
and to fix their salaries and wages, and draw on the
bank for all monies as shall have been so as aforesaid
deposited by the commissioners aforesaid; which draft
or drafts shall be signed by the president, or in his ab-
sence by a majority of a quorum, and countersigned
by their treasurer; and generally to do such other acts,
matters and things, as by this act, and by the by-laws,
rules, orders and regulations of the company, they
shall be authorised to do.

1812.

President and
managers shall
meet — three
shall form a
quorum —
they shall keep
minutes — they
may appoint
surveyors, &c.
— drafts.

8. AND BE IT ENACTED, That if after notice
as aforesaid, in such of the public papers in the cities
of Baltimore and Washington, as the company may
think proper, of the time and place appointed for the
payment of any portion of the capital stock of the
said company any stock-holder shall neglect to pay
such proportion at the time and place appointed, for
the space of thirty days after the time appointed,
every such stock-holder, or his assignee, shall, in ad-
dition to the payment so called for, pay at the rate of
two per cent per month, for delay of such payment;
and if the same, and the said additional penalty shall
remain unpaid for such space of time as that the ac-
cumulated penalties shall become equal to the sums
before paid on account of such share or shares, the
same shall be forfeited to the said company, and may
and shall be sold and assigned by the president and
managers of the said company, to any person willing
to purchase the same, and the purchaser or purcha-
sers aforesaid, shall have all the benefit and advan-
tage of such assignment and purchase as if they had
been original stock-holders.

Defaulters in
payment for
shares.

9. AND BE IT ENACTED, That the president
and directors be, and they are hereby authorised to
appoint five commissioners; and the said commission-
ers, before they proceed to the execution of the pow-
ers vested in them by this act, shall take the following

Commission-
ers — by whom
to be appoint-
ed— they shall
take an oath.