240

LAWS OF MARYLAND.

Proviso.

and ordering of the said corporation; Provided, That
nothing herein contained shall be construed as in any
way giving to the said corporation any banking priv-
ileges whatsoever, or any other powers or privileges,
than such as are necessary or incident to the making
and proper management of the Railroad mentioned
in this Act.

Election of
officers.

SEC. 3. And be it enacted, That the Commission-
ers aforesaid shall as soon as conveniently may be,
after two thousand shares shall be subscribed as
aforesaid, give notice in the newspapers published
in Centreville and Chestertown, and in such other
newspapers as they may deem proper, at least twen-
ty days notice of the time for the subscribers to meet
in Centreville, to organize the said Company and to
chose by a majority of votes of the said subscribers
by ballot, to be given in person or by proxy, one
President and seven Directors, a majority of whom
shall be residents of the State of Maryland, a Treas-
urer, and such other officers as shall be deemed neces-
sary; and the President and Directors aforesaid, be-
ing first sworn well and faithfully to discharge the
trust reposed in them, shall conduct the business and
manage the concerns of the said company, until the
second Monday of May thereafter, and until like of-
ficers are chosen to succeed them, and may make and
enforce the by-laws, rules and regulations provided
for by the second section of this Act,

Meetings.

SEC. 4. And be it enacted, That the stockholders
shall meet on the second Monday of May next after
the organization of said Company, provided for by
the preceding section of this Act, and upon the same
day in every year thereafter, at the town of Centre-
ville, of which notice shall be given by the Secretary,
at least twenty days in the newspapers before men-
tioned, and choose by a majority of the voles then
present, their officers for the ensuing year, as men-
tioned in section three of this Act, who shall continue
in office one year and until others are chosen; and the
said stockholders shall meet at such other times as
they may be summoned so to do, by the Directors, in
such manner and form as shall be prescribed by the
by-laws; and at the annual and special meetings they
shall have full power to do any corporate Act con-
sistent with this charter; and the number of votes to
which each stockholder shall be entitled, shall be ac-
cording to the number of shares he may hold, each
share entitling him to one vote, but no share shall en-