THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

been made good from the surplus profits over and above
the twelve and a half per centum, hereby authorised to
be divided among the stockholders.

CHAP. 352.

SEC. 19. And be it enacted, That the president and
diiectors shall have power and authority to appoint a se-
cretary and such other clerk and officers under them as
shall be necessary, for transacting the business of said as-
sociation, and may allow such salary as they shall judge
reasonable; to provide for the purchase, sale or other
disposition and transfer, of all shares of stock belonging
to any person who shall cease to be a member of a fire
company, and omit for sixty days to dispose of, and
transfer the same to some person or company entitled
under the charter to hold the same; to provide for allow-
ing the executors or administrators of deceased stock-
holders to dispose of and transfer any stock which shall
have been held by such stockholder at the time of his
death; to provide for ascertaining the actual value of all
shares of stock held by persons ceasing to be members of
a fire company, and ot all shares of stock which may have
been held by a deceased stockholder; to provide for the
sale or other disposition and transfer of all shares of stock
which shall be forfeited to, vested in, or held by this cor-
poration; to provide that transfers of the capital stock
of this company shall only be made to the Baltimore
United Fire Department, to fire companies, to persons in
trust for fire companies or members of fire companies
in the city of Baltimore, or to this corporation and
to regulate the manner of making such tranters, so as to
make them valid and effectual; to provide for compen-
sating the president of the company; to provide for the
appointment of a president pro tem, who shall exercise
the authority of the president for the time being; to pro-
vide for vacating the seat of any director, when the fire
company which he shall represent, shall cease to be enti-
tled to elect such member as shall be in office or attend-
ing at the board, and to pass all such by-laws, and to
make all such rules and regulations, and the same from
time to time alter or annul, as shall be necessary to the
full exerercise of the power hereby granted and mentioned,
not being contrary to, or inconsistent with this act, the
Constitution and laws of the State, or of the United States.

President and
Directors to
appoint offi-
cers.

SEC. 20. And be it enacted. That the president and
directors shall keep full, fair and correct entries of their
transactions, which shall all times be open to the inspec-
tion of the stockholders; they shall annually prepare a full
and true statement of the funds, property and securities
of the company, showing the amount in real estate, in

To keep full,
fair and cor-
rect returns.