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539
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Having discharged the duties imposed upon them under
the foregoing order, beg leave to submit the following as the
conclusion reached from the investigation, and ask leave to
be discharged from the further consideration of the subject:
By an Act of the General Assembly of Maryland, passed
February 6th, 1866, chapter 119, the Union Railroad Com-
pany of Baltimore was incorporated with power to construct
a road from the Relay House, on the Northern Central Rail-
road, to tidewater at Canton, with lateral roads to the city
of Baltimore. By the Act of 1867 a change was made in the
route, but in no other particular was the charter changed by
that Act.
The charter makes the capital of the Company six hundred
thousand dollars, represented by shares of the par value of
one hundred dollars each, with a provision that so soon as
fifteen hundred shares were subscribed, and one dol-
lar paid on each, the stockholders were authorized to or-
ganize the Company and exercise the powers granted in the
charter. The initial steps thus pointed out were observed,
and subscription books opened, conformable to law, and six-
teen hundred and four shares being subscribed, the Company,
in due form of law, was organized.
The following is a list of the subscribers' names and the
amount taken by each,tand also the amount paid :
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Shares.
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1867,
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Canton Company, 500
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Paid on
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acc't,
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Jan. 5,
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$500
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Western Md. R. R. Co. 500
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"
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"
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April 5,
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500
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A.&W.Denmead & Son, 20
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"
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"
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Jan. 8,
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20
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John N. Ely, 10
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"
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"
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Jan. 16,
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10
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G. K. Tyler, 10
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"
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"
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Jan. 16,
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10
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Isaac Tyson, Jr. & Son, 20
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"
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"
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Jan. 26,
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20
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John W. Randolph, 10
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"
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"
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March 2,
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10
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S. C. Bump, 2
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"
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"
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Jan. 16,
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2
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John Foss, 20
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"
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"
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Jan. 31,
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20
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Jesse Remington, 2
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"
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"
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Feb. 26,
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2
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James Manderson, 10
Geo. Slothower, Pres't of
the G. F. R. R. Co. 500
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"
"
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"
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March 2,
Ap'l 13,
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10
500
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No. of shares subscribed, 1604 Total cash pd. on act. $1,604
From the foregoing it will be seen that one hundred and
four shares, amounting to ten thousand four hundred dol-
lars, covers the individual and firm subscriptions; the resi-
due is by incorporated companies, there still remaining four
hundred and thirty-nine thousand six hundred dollars of the
authorized capital untaken.
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