JAMES THOMAS, ESQUIRE, GOVERNOR.

1834

after mentioned, unless in the meantime the capital stock of
eighty thousand dollars be subscribed for.

CHAP. 188

Sec 4. And be it enacted, That it shall and may be lawful
for any incorporation or body politic, in the State of Ma-
ryland, or any of the United States, or of the District of
Columbia, to become stockholders in the said company, and
hold stock therein

Authority to sub-

scribe

Sec 6 And be it enacted That when the said two thou-
sand shares of said stock shall have been subscribed for,
the commissioners aforesaid, or a majority of them, shall
give twenty days public notice in one or more of the news
papers printed in Frederick county, aforesaid of the time
and place to be designated by them, for the subscribers to
meet lor the purpose of organizing said company, and to
choose by a majority of votes of the said subscribers by bal-
lot, to be delivered in person or by proxy duly authorised,
seven members, who shall and may from then body elect a
President, four of whom including the President shall be a
quorum, a treasurer, and such officers as they shall deem
necessary for conducting the affairs of said company, until
the first Tuesday in October thereafter, and until a new-
election, and for making such by laws, rules orders, and re-
gulations as do not contravene the constitution and laws of
this State, or of the United States and may be necessary
for the governing the affairs of said company, and that
at such meeting for election, or in determining any question
arising at such meeting and in any election, or in determin-
ing any question arising at any Subsequent meeting, every

person or body politic holding shares shall be entitled to
vote, as follows, that is to say for every share so held not
exceeding three, One vote each for any number of shares
greater than three, and not exceeding ten five votes, for
any number of shares greater than ten and not exceeding
fifty, seven votes, for any number of shares greater than fif-
ty, and not exceeding one hundred ten votes, and for every
additional hundred shares above one hundred, ten votes,
Provided, that no person or body politic, shall have more
than thirty votes, whatever number of shares he, she, it, or
they, may be entitled to

Sec 6 And be it enacted, That after the first meeting of
the stockholders shall have been held as hereinbefore men
tioned, there shall be a meeting of the stockholders in the
said company, in Westminster, Taneytown or Emmitsburg
as the President and managers may appoint, on the firs
Tuesday in October, in each and every year, or within two

Election of officers