534

LAWS OF MARYLAND.

six others, also from amongst their number, to the

office of Directors of said company, who shall hold

their respective offices for the term of one year there-

Term of service

after or until their successors shall be duly elected

and qualified, with power to said President and Di-

rectors to fill any vacancy or vacancies which may

take place amongst them, during their term of office,

by the election of such other person or persons from

amongst the stockholders as they may select ; and the

said President and Directors so elected, and their

successors duly appointed, shall have and exercise

Shall have and
exercise.

all the powers now possessed 'and enjoyed by the

President and Directors of the Chesapeake and Ohio

Canal Company under its charter and the several

amendments and supplements thereto, not herein

otherwise provided, and shall at all times lie remov-

able by a vote of a majority of the stockholders of
said company at any public meeting thereof, duly

called after thirty days' public notice ; said meeting

to be held at the principal office of said company ;

and shall receive such compensation for their ser-

vices as the stockholders may from time to time de-

termine.

General meet-

SEC. 4. And be it enacted, That there shall be held

ings

annually on the first Tuesday in June in each and

every year, a general meeting of the stockholders of

said company, to receive and consider the annual

report of the President and Directors for the pre-

ceding year, and elect their successors, and to trans-

act any and all other business relating to said canal

and the affairs of said company, which may be

Quorum.

brought before them ; at all meetings of the stock-

holders a majority in value thereof shall be necessary

to constitute a quorum, and in case, at any of said

annual meetings of stockholders, or any other meet-

ing thereof, whether regular or special, a quorum

should not be present, an adjournment may be had

to some other day, and so from time to time until

the attendance of a quorum shall be obtained.

SEC. 5. And be it enacted, That the said company

Shall begin

shall begin the construction of said canal within ten.

Shall complete.

years from the date of the passage of this act, and

shall complete the same within twenty years from

the commencement thereof ; and the said canal, and

the works to be erected thereon, when completed