540

LAWS OF MARYLAND.

Elect seven
directors

dent from among the directors, and in said election

and all other elections by the stockholders of the said

company, each shall be allowed one vote for every

share owned by him or her, and every stockholder

may vote either in person or by proxy, and the com-

missioners aforesaid or any three or more of them

shall be the judges of the first election of directors.

SEC. 4. And be it enacted, That the President and

Term or service

Directors elected at the first meeting of said stock-

holders, shall serve until the first Monday in January

thereafter, or until their successors shall be elected;

and to continue the succession of said company a

general meeting of the stockholders shall be held

annually, on the first Monday in January, at which

meeting a Board of Directors shall be elected as-

aforesaid, to serve for one year or until their succes-

sors shall be elected, and other meetings may be-

called of the stockholders by the President and

Directors or a majority of them, according to such

rules as may be established by the by-laws of the

company; and the Board of Directors may meet as

often as may he necessary for the transaction of the

business of the company.

Par value

SEC. 5. And be it enacted, That the shares of stock

of said company shall be twenty dollars each, and

that the sum so subscribed for the stock of said

company shall be paid to the President and Di-

rectors aforesaid, in such instalments and at such

times as they may appoint and require.

SEC 6. And be it enacted, That the company hereby

To malic and
construct

incorporated, shall have power to make and construct

a continuous turnpike road from west Friendship,

near the nineteen mile stone on the Frederick Turn-

pike, to Linden, over the present bed of the county

road or roads leading thereto, except where it may-

be deemed expedient to improve the course or grade

of said road, in which case the process prescribed by

law for such alterations in similar cases shall be

followed.

Completed

SEC. 7. And be it enacted, That whenever said road

shall he completed, or the said company may erect

one or more toll-gates upon said roads, but not

within three miles of each other, and may charge