The common council shall, by ordinance, fix the time and place of holding stated meetings, and the council may be convened at any time by the mayor. A majority of the councilmen shall constitute a quorum for transacting business but a lesser number may adjourn from time to time and compel the attendance of absent members in such manner and under such penalty as the council may, by ordinance, have previously prescribed. No such adjournment shall be to a day beyond the next stated meeting of the council.