ODEN BOWIE, ESQUIRE, GOVERNOR. 213

or altered; and that the present officers of said
Corn and Flour Exchange of the City of Balti-
more, shall he the officers of the body hereby
created, until the regular time for the election of
officers, as prescribed by the by-laws of the new
organization, and their qualification for office.

Sec. 3. And be it enacted, That the property, affairs, business and concerns, of the corporation hereby created, shall be managed by a Board of Directors, consisting of fifteen members of the association, to be elected annually at such time and place as may be provided for in the by-laws, which Board shall elect a President, two Vice Presidents, and a Treasurer from their own body, and appoint a Secretary, whose duties shall be re- spectively prescribed by the by-laws of the cor- poration. All vacancies which may occur in the	Directors.
said Board by death, resignation or otherwise, shall be filled by the said Board; a majority of the members of such Board shall constitute a quorum for the tranaction of business.	Vacancies.
Sec. 4. And be it enacted, That said corporation shall have the power to prescribe and regulate by such by-laws as it may see fit to adopt the qualifi- cations of its members, and all matters and things relating to their admission, rejection, suspension and exclusion. No person shall be entitled to the privileges of membership except in conformity	Qualifications
with such by-laws, and unless he shall likewise be a resident of the State of Maryland, having a place of business in the city of Baltimore, and shall have first signed a copy of the constitution and by-laws of said corporation.	Resident.
Sec. 5. And be it enacted, That the purposes of said corporation shall be to provide and regulate a suitable room or rooms for a produce exchange in. the city of Baltimore, to inculcate just and equi- table principle in trade, to establish and maintain uniformity in commercial usage, to acquire, pre- serve and disseminate valuable business informa- tion, and to adjust controversies and misunder- standings between its members and themselves, or between them and other persons thereto consent- ing, which may arise in the course of business.	Object.