454

LAWS OF MARYLAND.

such election; and general meetings of the stock-
holders may be called by any number of the stock-
holders not holding less than one-fourth of the whole
number of shares to consider any general interest of
the said company, and the said general meeting if
representing more than one-half of the whole number
of shares in said company shall have power to make,
alter or repeal by a majority of votes, in the manner
aforesaid; all or any of the by-laws rules and regula-
tions of said directors.

Competent to
transact busi-
ness.

SEC. 7. And be it enacted, That any four of the
directors including or without the president shall con-
stitute a board and quorum for the transacting of all
kinds of business, and shall be competent to appoint
all such officers, agents and servants whatsoever, as
they may deem necessary for the transacting of the
business of the company, to fix their compensation
and dismiss them at pleasure, to provide for acquiring
and taking security for the faithful performance of
the duty of any officer of the company, for making
all contracts which shall be necessary to effect the
purposes contemplated by this act, and for settling all
the accounts of the company; to provided for fur-
nishing to the stockholders, certificates or other evi-
dences of their rights to slocks, and for the transfer
of stock, and evidence of such transfer, and to pass
all such by-laws as shall be proper or necessary for
exercising all the powers, rights and privileges vested
in the company hereby incorporated or in the said di-
rectors, or for the performance of the duties required
of them by this act; and the said by-laws from time
to time, to alter or repeal, subject nevertheless to the
revision of the stockholders at a general meeting as
hereinbefore provided.

Profits to vest
in corporation.

SEC. 8. And be it enacted, That for and in con-
sideration of the expenses which the said stockhold-
ers will be at in constructing works for opening said
navigation, and for stopping and damming the bay as
aforesaid, and for keeping the same in repair, the said
works and the said inlet and dam, with all their profits'
under the limitations as aforesaid, shall be and are
hereby vested in the said corporation forever, under
the limitations as aforesaid.

Manner of pro-
ceeding in case
of a condem-
nation.

SEC. 9. And be it enacted, That the president and
directors of said company may agree with owners of
land required for said dam and said inlet, and also
for the purchase of stone, gravel, earth, land or tim-
ber for said dam or inlet, and in all cases where they