T. WATKINS LIGON, ESQUIRE, GOVERNOR.

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SEC. 19. And be it enacted, That the President
and Directors shall have power and authority to ap-
point a Secretary and such other clerks and officers
under them as shall be necessary for transacting the
business of said association, and may allow such
salary as they shall judge reasonable — shall provide
for compensating the President of the Company —
shall provide for the appointment of a President pro
tem, who shall exercise the authority of the President
for the time being — and shall pass all such by-laws,
and make all such rules and regulations, and the same
from time to time to alter or annul, as shall be neces-
sary to the full exercise of the power hereby granted
and mentioned, not being contrary to, or inconsistent
with this act, the constitution and laws of the State,
or of the United States.

Power to ap-
point officers.

SEC. 20. And be it enacted. That as soon as prac-
ticable after this enactment shall have become a Jaw,
the charter members herein named, shall hold a meet-
ing and appoint a commissioner who shall open books
for subscription to the capital stock of this Company,
in some public place in the city of Baltimore — he
shall keep the same open for thirty consecutive busi-
ness days, and shall deposit the money received by
him daily; he shall deliver the said books and money
paid on the subscription to the board of Directors so
soon as they shall be appointed, and prepared to re-

Books to be
opened.

ceive the same; Provided, that the neglect or refusal
of the Commissioners to open books shall not invali-
date this charter; And provided further, That the
charter members may at any time cause books to be
opened for subscription to the capital stock.

Provisos.

SEC. 21. And be it enacted, That the President
and Directors may call a general meeting of the stock-
holders for any purpose relative to the affairs of the
association, giving at least fifteen days notice thereof
in the daily newspapers of the city of Baltimore, and
any number of stockholders not less than fifty, hold-
ing together not less than five hundred shares of the
association, may at any time apply to the President
and Directors, to call a general meeting of the stock-
holders; for any purpose relative to the affairs of the
association; and if the President and Directors re-
fuse to call such meeting, the number of stockholders
proprietors of the said number of shares, shall have
power to call a general meeting of the stockholders,
giving at least fifteen days notice in the said newspa-

General meet-
ings.