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CHAP. 73.
Subscriptions ta-
ken after day ap-
pointed for open-
ing books, to be
binding.
Quorum to trans-
act business—Pre-
sident pro tem.—
Vacancies.
General meeting
of stockholders to
be annually hold-
en to choose direc-
tors.
President and di-
rectors to fix on
site for bridge,
and contract for
building, &c.
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hundred thousand dollars aforesaid shall have been subscribed for,
then the said subscriptions shall be reduced to that sum by the com-
missioners at Shepherd's-town aforesaid, in the manner following;
that is to say, from the subscriptions highest in amount shall be
subtracted a share or shares, until the same shall be made equal to
the subscriptions next highest in amount, and as often as the case
shall require it, they shall so proceed to subtract a share or shares
from the subscription or subscriptions remaining, from time to time,
highest in amount, until the aggregate of all the subscriptions bo
reduced to the one hundred thousand dollars aforesaid.
4. And be it enacted, That any subscriptions for stock taken by
any one of the commissioners aforesaid, or by any person duly au-
thorised by the president and directors of the company aforesaid, at
any time after the day appointed for opening the books aforesaid,
shall be as binding and obligatory as if the subscriptions had been
made at the time the books were first opened.
5. And be it enacted, That the president, and any four directors,
or in the absence of the president any five directors, shall consti-
tute a quorum to do business; and in the absence of the president,
the directors forming a quorum as aforesaid, shall choose one of
their own body to act as president pro tempore; and in case of the
death, resignation, or inability to act, of the president or any di-
rectors, the vacancy shall be supplied by their own body from among
the stockholders, citizens of Maryland or Virginia, until the next
staged election.
, 6. And be it enacted, That a general meeting of the stockholders
shall annually be hidden in Shepherds-town aforesaid, on the first
Monday in September, when nine directors shall be chosen in the
manner aforesaid, to conduct and manage the affairs of said com-
pany until the then next election; and in case a majority of the
stock subscribed for, should not be represented on said day, or at
the first meeting of the stockholders aforesaid, either by stockhold-
ers in person, or by proxy duly authorised, those stockholders who
do attend in person or by proxy, may adjourn said meeting from
day to day until a majority as aforesaid shall attend.
7. And be it enacted, That the president and directors aforesaid,
shall have power to locate and fix on the site for said bridge, and
to contract for building the same, and to employ all necessary
workmen and labourers about the same, and also to contract with
the proprietor or proprietors of the land on the Maryland shore,
against which the aid bridge shall be proposed to be abutted, for
the privilege of said abutment, and if the said president and di-
rectors should not be able to agree with said proprietor or proprie-
tors upon the price for said privilege of an abutment, then the said
president and directors shall apply to the court of Washington
county, Maryland, whose duty it shall be to appoint nine disinte-
rested and respectable citizens of Washington county aforesaid, who
being first sworn, shall view the lands so proposed for said abut-
ment, and fairly and impartially, to the best of their judgment, fix
upon and ascertain the sum which the said proprietor or proprie-
tors ought to have and receive for the privileges of said abutment,
taking all circumstances into consideration; and provided the pro-
prietor or proprietors of the property aforesaid, or the president
and directors of the bridge company aforesaid, should not be
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