It needs to be an absolute path to the file, so you need to use Server.MapPath()
like so...
Bitmap myBitmap3 = new Bitmap(Server.MapPath("~/images/logo.bmp"));
(Assuming this is a web app)
if this is not a web app, and you plan on moving this around, I suggest setting a key in the config file of the root path like
senexom
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Application.ExecutablePath <-- Path + executable name
Application.StartupPath <-- Only path
r0ckbaer
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