134 LAWS OF MARYLAND.
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and corporate, under the name of the Baltimore
Chrome Works, to have perpetual succession, to
sue and be sued, to have, use and change at pleas-
ure a common seal, and exercise generally all cor-
porate privileges necessary in. the manufacture of
bi-chromate of potash, or other products from the
ores or otherwise, and vending the same, for which
purpose the said corporation may purchase, hold
and work, sell and convey, such real estate, mines
and mining privileges, and the products thereof,
as may be necessary for the carrying on the busi-
ness of said corporation. |
Capital stock
limited. |
Sec. 2. And be it enacted, That the capital
stock of said corporation shall consist of three
thousand shares, of one hundred dollars each,
to be apportioned in the first instance among the
above corporators, as they may agree among them-
selves, with the privilege of increasing said capi-
tal stock to six thousand shares, the said stock to
be considered personal estate, the evidence and
ownership of which, and of the transfer thereof,
shall be determined by the by-laws, and in pay-
ment for said shares the Directors of said corpo-
ration may in their discretion receive either land,
at the rates to be agreed upon, or money. |
Affairs—how
managed. |
Sec. 3. And be it enacted, That the business of
the said corporation shall be managed by a Board
of five directors, to be chosen by the stockholders
in general meeting, in person or by proxy, each
share having one vote, on the first Monday in
January, in each and every year, one of their
number being chosen President of the said corpo-
ration by said directors, and the said Board shall
have power to make by-laws for their own govern-
ment as well as for the conduct of the affairs of
the corporation, and shall continue in office until
their successors are elected; and until the first
annual election, the corporators above named shall
constitute the Board of Directors. |
May form a
union. |
Sec. 4. And be it enacted, That should the stock-
holders of said corporation at any time desire to
unite with the Tyson Mining Company, incorpo-
rated by the General Assembly, upon terms to be
agreed on between the two corporations, it shall
have the privilege of doing so, when the capital
of the Baltimore Chrome Works shall be increased |
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