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SEC. 4. And lie it enacted, That the stockhold-
ers shall meet and choose by a plurality of votes,
out of those who shall attend in person or by
proxy, seven directors to conduct the affairs of
the said company under this charter; every stock-
holder shall be entitled at each election, and at
all the meetings of the stockholders, to one vote
for each share of stock he, she or they shall own ;
none but stockholders shall be eligible as direc-
tors, and the directors when elected shall be en-
titled to hold their seat until a new election shall
take place, and when any of them shall cease to
be a stockholder, he shall also cease to be a di-
rector, and the election of directors shall be an-
nual.
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Seven Direc-
tors to be elect-
ed.
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SEC. 6. And be it enacted, That the directors
of said company, or a majority of them, shall
have power to choose from their own body, or
from among the stockholders, a president of the
said company and declare his powers and duties,
and provide for and fix the time for giving no-
tice of the annual election of directors; to pro-
vide for appointing the judges and the mode of
conducting and certifying such elections, to pro-
vide for filling all vacancies occasioned by death,
resignation or disqualification of the president
or any director until the next annual election; to
prescribe the manner and evidence of transfer of
the capital stock of the company, and the power
and mode of proving proxies; to appoint or em-
ploy, and in their discretion to remove from office
and dismiss such and so many agents, clerks and
other persons as the affairs of the company may
in their judgment from time to time require,
and fix their compensation, and generally to do
and perform or authorize all such acts, and make
all such by-laws, resolutions, ordinances and
regulations not inconsistent with the laws of the
State or of the United States, as they may deem
necessary, useful and convenient for or concern-
ing the carrying into effect the powers above
enumerated, and all powers, rights and privi-
leges granted to or vested in the Baltimore Ex-
change Buildings Company aforesaid, by this
charter; and the said by-laws, in their discretion
to revise, alter or amend.
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Directors to
have power and
authority.
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