| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
president and managers of the Loveton turnpike road company,
the sum of twenty-five dollars for every share of stock in said
company, set opposite to our respective names, agreeably to an
act of the state of Maryland, entitled, An act to incorporate a
company to make a turnpike road to be called the Loveton Turnpike
Road Company; witness our hands this _____ day of _____,
eighteen hundred and _____"; and shall give notice in two or more
of the newspapers in Baltimore, one in York, and one in Lancaster,
Pennsylvania, for one month at least, of the times and places
where the said books will be opened to receive subscriptions of
stock for said company, at which times and places at least two of
the said respective commissioners shall attend, and shall permit
and suffer all persons who shall offer to subscribe in person, or by
attorney duly authorised, in the said books, which shall be kept
open for that purpose, at least four hours every day, Sunday excepted,
for the space of three days, if three days be necessary;
Provided nevertheless, that the said commissioners shall not permit
any one person or company to subscribe for more than twenty-five
shares during the first day on which the said books shall be opened;
and if at the expiration of the said three first days, the said books
shall not have the full number of shares subscribed, the said respective
commissioners may adjourn from time to time, until the
number of shares be subscribed, of which adjournment public notice
shall be given in two or more public papers in the city of Baltimore,
one in York, and one in Lancaster, Pennsylvania; and
when the said subscriptions in the said books shall amount to the
sum of seventy thousand dollars, the same shall be closed, but may
again be opened in the manner directed by this act, at any future
day, if the sum subscribed for be found inadequate to complete the
said road; Provided always, that every person offering to subscribe
in said books in his own name, or in the name of any other person,
shall upon subscribing pay to the attending commissioners
one dollar for every share to be subscribed, out of which shall be
defrayed the expense attending the taking such subscription, and
other incidental charges, and the remainder shall be deposited in
one of the banks of Baltimore, for the use of the Loveton turnpike
road company. |
1815.
CHAP. 114.
Provisos. |
3. AND BE IT ENACTED, That as soon as two
thousand shares
are subscribed for in said company, the said commissioners heretofore
named shall advertise in two or more of the public papers
in Baltimore, one in York, one in Lancaster, Pennsylvania,
of the time and place by them appointed for the subscribers to
meet in order to organize the said corporation, and to choose by
a majority of voters of the said subscribers, by ballot, to be delivered
in person or by proxy duly authorised, one president and
eight managers, one treasurer, and such other officers as shall be
deemed necessary, to conduct the business of said company, until
the third Monday in October subsequent to such meeting, and until
such like offices shall be thereafter chosen, and make such by-laws,
rules, orders and regulations, as do not contravene the constitution
and laws of these United States, or of this state, and may be necessary
for the well governing the affairs of the said company;
Provided always, that no person shall have more than twenty-five
votes in every election, or in determining any question arising at |
Organization of
corporation.
Proviso. |
