PRIVATE ACTS. 1439

necessary to carry out the object of this Act, and not contrary
to any by-laws adopted at any general meeting of the stock-
holders of said corporation; and a quorum for the transaction
of business shall consist of a majority of said directors; and
in case a vacancy shall occur in the presidency or directorship
of said corporation, the remaining directors shall have power
to fill such vacancy by appointing some stockholder to that
office, until the next meeting of the stockholders for the choice
of directors.

SEC. 5. And be it enacted, That a meeting of the stock-
holders of said company shall be held annually at such time
and place as shall be established by the by-laws, and it shall
be the duty of the president and directors at said meeting to
make a report of the condition and business affairs of said
company, and a special meeting of the stockholders may be
called at any time by a majority of the directors, or by one or
more stockholders, who shall represent one-fifth part of said
capital stock, of which meeting ten days' previous notice, stat-
ing the object thereof, shall be given in some newspaper
printed in the county of Garrett, and at all meetings of the
stockholders, the owners or representatives of the major part
of the stock shall constitute a quorum for the transaction of
business, and shall have power to pass, amend, alter or repeal
the by-laws and remove from office any director, officer or
agent for the said corporation and to appoint others ,in their
stead.

SEC. 6. And be it enacted, That if any subscribers to the
capital stock of said corporation, or any person or corporation
who may become entitled to any share or shares of such capital
stock, shall fail or neglect to pay any assessment or instal-
ment which may be required or demanded to be paid by the
president and directors of said corporation, or a majority of
them, on the share or shares of stock subscribed for or owned
by such subscriber, person or corporation for the space of
sixty days next after such assessment or instalment shall be
demanded and made due and payable, the stock on which said
assessment or instalment is demanded shall be forfeited to said
company and may be sold by the said president and directors,
or a majority of them, for the benefit of said company, but the
said president and directors, or a majority of them, may remit
such forfeiture on such terms as they shall deem proper.

SEC. 7. And be it enacted, That nothing in this Act shall be
construed as to permit said company, or the president, vice-
president, manager, superintendent or any director or other
officer of such corporation to own or have any interest in any
general stores or mercantile business in Garrett county, or