THOMAS H. HICKS, ESQUIRE, GOVERNOR.

343

SEC. 4. And be it enacted, That in all meet-
ings of the stockholders of said company, each
share of stock shall entitle the holder there-
of 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 man-
ner as may be provided by the by-laws of said
company.

Stock trans-
ferable.

SEC. 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, un-
til Directors shall be elected as hereinafter pro-
vided for, and in case of decease of one or more
of said persons, or in case of the refusal of any
one or more of said persons to act as Directors, the
remaining person or persons, shall have power to
select other persons as Directors for the time be-
ing in their stead.

Management.

SEC. 6. And be it enacted, That whenever the
said company shall be organized, before proceed-
ing to the prosecution of its business, a general
meeting of the stockholders shall be held in the
city of Baltimore, at such time and place as the
Directors for the time being may appoint, and of
which appointment notice shall be given for at
least two weeks by advertisement once a week in
a newspaper in each of the cities of Cumberland
and Baltimore, and that at such meetings five per-
sons all of whom shall be stockholders of said
company shall be chosen as Directors of said com-
pany to serve for one year thereafter and until the
next election shall be held, and that annually
thereafter, either at Cumberland or Baltimore as
may in their behalf be appointed by the Directors
for the time being, like previous notice being giv-
en, a general meeting of the stockholders shall be
held for the election of five Directors for the suc-
ceeding year; and if from any cause it shall so
happen than an election shall not be made on the
appointed day, the said company shall not be deem-
ed for that cause to be dissolved, but such election
may afterwards be made on any day which may
be appointed for that purpose by the Directors for
the time being; notice being given as aforesaid; and
the said Directors of said company, shall have and

Directors —
how elected.