T. WATKINS LIGON, ESQUIRE, GOVERNOR.

523

make and use a common seal, and to ordain, and es-
tablish such by-laws, and regulations as shall be ne-
cessary and convenient for conducting the affairs of
the corporation, not repugnant to law.

SEC. 2. And be it enacted, That the objects of said
corporation, are declared to be transportation of pas-

sengers, United States Mail, and freight, to own real
estate, and erect buildings, necessary and convenient
to the conducting of the business, for which purpose
they are authorised to purchase, hold, sell, rent and
lease land in fee simple or otherwise.

Object of in-
corporation.

SEC. 3. And be it enacted, That the capital stock

of said corporation, shall not exceed five thousand
dollars, in shares of ten dollars, and as soon as sev-
enty-five shares of said capital shall have been sub-
scribed, the subscribers of said stock, their succes-
sors and assigns, shall be and they are hereby declared
to be incorporated into a company, by the name of
the Brookville, Sandy Spring and Laurel Stage Com-
pany.

Capital stock.

SEC. 4. And be it enacted, That the for manage-

ment of the affairs of the company, the stockholders
shall elect not less than five directors, a majority of
whom shall constitute a quorum, a treasurer and
secretary, who shall remain in office for one year, or
until successors shall be elected, and one third of the
whole number of stockholders, may at any time, by
giving ten days notice, call a meeting upon advising
all the stockholders by advertisement or otherwise,
of the time and place of holding said meeting.

Management.

SEC. 5. And be it enacted, That in the election
of officers and an all other occasions, wherein a vote
of the stockholders is to be taken, each stockholder
shall be allowed one vote for every share owned by
him, her, or them, and every stockholder may depute
any other person to vote and act for him, her or them,
as his, her, or their proxy, and at such elections or
meetings not less than three fourths of the stock shall
be represented.

Election of
officers.

SEC. 6. And be it enacted, That the stock of the
said company shall be esteemed personal estate, that
all the property, estate, and joint stock of the cor-
poration, shall be alone bound, and answerable for
its debts and liabilities.

Property of
corporation li-
able.

SEC. 7. And be it enacted, That the company at
any time, may by a vote of three fourths of its stock,
sell out and wind up its affairs, the proceeds when a

May wind up
affair*.