THOMAS H. HICKS, ESQUIRE, GOVERNOR.

107

SEC. 3. And be it enacted, That for the purpose
of obtaining subscriptions to the capital stock of
said company, books shall be opened under the
direction of the said William W. Watkins, J.
Washington Tyson and Robert T. Spence, or a
majority of them, at such time or times, and at
such place or places as the persons who may act
in that behalf, shall deem expedient, and payment
may be made of the whole or any part of the sub-
scriptions obtained or received as aforesaid, in
lands or other property, or money, as may be
agreed on, in case of subscriptions obtained whilst
the books are open between the respective subscri-
bers and the persons under whose direction the
said books may be opened, and in case of sub-
scriptions received by the President and Directors
between the respective subscribers and the said
President and Directors.

Books to be
opened.

SEC. 4. And be it enacted, That in all meetings
of the stockholders of said company, each share
of stock shall entitle the holder thereof to one
vote to be given in person or by proxy, and said
shares shall be considered as personal property,
and shall be transferable in such manner as may
be provided by the by-lawn of said company.

Stock trans-
ferable.

SBC. 5. And be it enacted, That the affairs of
said company shall be managed by the persons
named in the first section of this act, and who are
hereby constituted Directors of said company
until directors shall be elected as hereinafter pro-
vided; and in case of the decease of any one, or
more, of said persons, or in case of the refusal of
any one, or more, of said persons to act as Direc-
tors, the remaining person or persons shall have
the power to select other persons as Directors for
the time being, in their stead.

Management.

SEC. 6. And be it enacted. That whenever the
said company shall be organised, before proceed-
ing to the prosecution of its business, a general
meeting of the stockholders shall be held in the
city of Baltimore, or in the city of Cumberland,
at such time and place as the Directors for the
time being, may appoint, and of which appoint-
ment, notice shall be given for at least two weeks,
by advertisement, once a week in a newspaper in
each of the cities of Baltimore and Cumberland,
and that at such meeting, five persons, all of

General meet-
ing.