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540
The 5th Section of the Act of 1866, chapter 119, author-
izes the collection of their subscription as other debts are
collected, or the Company may, in its discretion, remit all
subscriptions.
The power to raise money for the construction of the road,
and the method indicated, are found in the 2d, 3d, 5th and
11th Sections of the Act of Incorporation. The Sections are
as follows :
SECTION 2. And be it enacted, That the capital stock of said
Company shall be six hundred thousand dollars, in shares
of one hundred dollars each; and as soon as fifteen hundred
shares are subscribed, the subscribers, their successors and
assigns, shall be and they are hereby declared to be, incor-
porated into a Company by the name of the Union Railroad
Company of Baltimore, and by that name shall he capable in
law of purchasing, holding, selling, leasing and conveying
estates, real, personal and mixed, so far as shall he necessary
for the purpose herein mentioned, and no further, and shall
have perpetual succession; and by said corporate name may
sue and be sued, and may have and use a common seal,
which they shall have power to alter and renew at their
pleasure; and shall have, enjoy, and may exercise all the
rights and privileges which other corporate bodies may law-
fully do for the purposes herein mentioned.
SEC. 3. And be it enacted, That the Mayor and City
Council of Baltimore, the Northern Central Railroad Com-
pany, the Western Maryland Railroad Company, and the
Canton Company, and any other corporation chartered by
this State, may, and they are hereby fully authorized and
empowered, severally and respectively, each on its own ac-
count, to subscribe, as corporations, to the capital stock of
said Company, which subscriptions shall bo made for the
said Mayor and City Council by ordinance, and by the other
corporations in the manner in which other corporate acts are
by them respectively performed; and the first subscriptions
of the said corporations shall not be deemed to exhaust the
power, but each of the said corporations may make other and
further subscriptions, if they consider the same expedient
and proper; and the said Mayor and City Council may from
time to time borrow money, or issue certificates of indebted-
ness, to meet any instalments of subscription, and each of
said corporations is authorized to issue its bonds to the
amount necessary to meet such subscriptions, and to secure
such bonds by mortgage or otherwise.
SEC. 5. And be it enacted, That upon every such subscrip-
tion there shall be paid at the time of subscribing, to the
Commissioners, or their agents appointed to receive such
subscriptions, to the sum of one dollar per share, and the
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