THOMAS H. HICKS, ESQUIRE, GOVERNOR.

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may cause books to be opened, at such times and
places as they may direct, giving public notice
thereof for the purpose of receiving subscriptions
to the capital stock of the said company, which
shall be divided into shares of twenty-five dollars
each, and be limited to two thousand shares, and
that the corporation of the city of Annapolis are
hereby authorised to subscribe for said stock as
they may deem proper, not to exceed ten thou-
sand dollars.

SEC. 3. And be it enacted, That go soon as four
hundred shares of the capital stock shall be sub-
scribed as aforesaid, the said seven persons or
a majority of them shall call a general meeting
of the stockholders, at such time and place as
they may appoint, and at such meeting the stock-
holders shall elect a President and four Directors
by ballot, to manage the affairs of the company,
each stockholder, at every election and at every
voting, shall be entitled to have one vote for
every share of stock owned by him.

Capital stock.

SEC. 4. And be it enacted, That the President
and Directors, for the time being, or a majority
of them, shall have power to call for payment
of the subscriptions to the capital stock, as they
may deem necessary, under the penalty to the sub-
scribers forfeiting all previous payments, due
notice thereof being given to appoint all officers
and agents to manage the business and affairs of
the company, to purchase and lease property and
to erect thereon all suitable buildings and works
of the company to manufacture gas, and dispose
of the same for the purposes hereinbefore stated,
to excavate the earth and lay pipes for gas in the

President and
Directors au-
thorised and
empowered.

said city and its precincts; Provided, no injury
is done thereby, and the Mayor, Recorder and
Aldermen, of the said city, assent thereto, and
where the same is on the lands of the State, that
the Governor of the State also assent to the same,
to receive subscriptions for the whole or any part
of the capital stock remaining unsubscribed, in
such manner and at such times as they may deem
proper; to make and pay over to the stockholders,
from time to time, dividends of the net profits
of the said company; to make rules, regulations
and by-laws, for the government of the said com-
pany and its agents and officers, and to take such

Proviso.