60

LAWS OF MARYLAND.

regulations as shall be necessary and convenient
for conducting the affairs of said corporation.

Capital stock,

Sec. 2. And be it enacted, That the capital stock
of said company shall not exceed the sum of ten
thousand dollars nor less than three thousand dol-
lars, to be divided into shares of twenty-five dollars
each, and the actual, payment of, the said capital
stock, with the names and parties subscribing to
the same, with the amount subscribed to be certi-
fied under the hands and seals of two disinterested
citizens of said county, to the Judge of the Circuit
Court for said county, before any of the privileges
conferred by this act shall take effect.

Election of
Directors.

Sec. 3. And be it enacted, That for the manage-
ment of the affairs of said company the stockhold-
ers shall elect a President, and not exceeding five
directors, to manage the affairs for one year, or
until their successors shall be elected; a majority
of them shall form a quorum or board for the
transaction of business, and the annual elections
of said corporation shall be held on the first Mon-
day of May next ensuing the organization of this
company, and in each and every year thereafter.

Power and
authority.

Sec. 4. And be it enacted, That the company
shall have full power and authority to levy, charge
and collect from all vessels of every description
whatsoever, using said wharf, and from any goods
or articles of any description landed upon said
wharf, the same reasonable tolls or wharfage that
may now be sanctioned by law or usage in this
State, to be collected in the same manner as other
small debts are now recoverable, and that the rates
of said tolls shall be published annually in some
newspaper in said county and also posted up at
the court house door in the town of Easton, and
two other public places in said county near to said
wharf.

Privilege.

Sec. 5. And be, it enacted, That said company
shall have the privilege of connecting said wharf
with the public road near the foot of the bridge
now crossing said river, or with the public landing
at the terminus of the road leading from Easton to
Miles river, where the ferry boat formerly landed.

May purchase
land.

Sec. 6. And te it enacted, That it shall be law-
ful for said President and Directors, or a majority
of them, to agree with the owners of any land ad-