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CHAPTER 7.
An act to incorporate the Baltimore Athenaeum.
Sec. 1. Be it enacted by the General Assembly of Maryland, That
Nathaniel Williams, Charles F. Mayer, Edmund Hinkley, John
Buckler, Isaac Phillips, Julius Ducatel, Charles H. Appleton, Wil-
liam Howard, J. J. Giraud, John Hastings, Thomas Turner Phil-
lips, Alexander Lorman, Isaac Phillips, jun. William Shipley, jun.
Ebenezer S. Thomas, Alcaeus B. Wolf, Turner Phillips, Jacob
Schley, William Frick, John Gable, Isaac McKim, Joseph P. Ship-
ley, Edward Johnson, John Barney, John Purviance, Robert A.
Taylor, Phillip R. J. Frieze, Joshua Dorsey, Andrew Hall, Henry
P. Sumner, John P. So tuner, Henry Thompson, William C Shaw,
A. B. Murray, John S. Tyson, Joseph B. Williams, John Hind-
man Barney, James H. Caustin and George Winchester, their as-
sociates, successors and assigns, be, and they are hereby created
a corporation and body politic, by the name and style of the "Balti-
more Athenaeum" and by that name shall have perpetual succes-
sion, and shall be able and capable in law, to sue and be sued, im-
plead and be impleaded, answer and be answered, in any court of
law or equity, and to make and use a common seal, and the same
to change and alter at pleasure, and to ordain and establish such
by-laws and regulations not contrary to law, as shall be necessary
or convenient tor conducting the affairs of this corporation.
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Passed Dec.
22, 1824.
Incorporation.
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2. And be it enacted That the objects of this corporation are
declared to be the promotion of literature, and the encouragement
of the arts and sciences by providing a library, reading rooms, and
otherwise; the capital stock thereof, shall consist of shares of fifty
dollars each, not exceeding in the whole, four thousand shares; the
said corporation shall be able and capable in law to purchase, re-
ceive and hold estates in fee simple or any less estate, and personal
property; Provided, That the clear annual income of all their pro-
perty, shall not exceed twenty-five thousand dollars.
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Purposes—
Capital, limit
of estate,
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3. And be it enacted, That there shall be a meeting of the stock-
holders of the said corporation on the first day of January in every
year, or within ten days thereafter, for the purpose of electing
nine directors to manage all the concerns thereof, who shall be
elected by ballot in person or by proxy; and each share shall enti-
tle the holder thereof to one vote; any general meeting of stock-
holders, at which shall be present a majority in number and value,
shall be competent to pass by-laws, binding on the corporation.
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General meet-
ings and elec-
tions.
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4. And be it enacted, That the board of directors, (five of whom
shall be a quorum) shall appoint from among their number a presi-
dent, a treasurer, and a secretary, and they shall fill up all the va-
cancies which may happen in their body during the year; the direc-
tors are authorised and empowered to establish regulations for
transfer of the stock of the corporation, and for proof of the own-
ership therein, to employ, compensate and dismiss at pleasure, all
officers and agents deemed by them needful or useful, to enter into
contracts, and to use therefor the name and seal or the name of the
corporation, to make by-laws and regulations, and to repeal the
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Powers of di-
rectors.
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