holders, in the manner hereinafter provided,
their successors and assigns, are hereby made and
constituted a body politic and corporate, by the
name, style and title of the Chestertown Water
Company, and by that name shall have perpetual
succession, and shall be capable in law to sue and
be sued) to plead and be impleaded, to answer and
be answered, in any court of law or equity, to
make and use a common seal, and to alter the
same, and generally to do and perform all such
acts, and make all such agreements and contracts,
and to purchase, lease, hold, use and possess such
lands, water rights, powers and privileges, tene-
ments, goods and chattels, as may be necessary
for collecting streams of water, elevating, preserv-
ing, using and distributing the same, as the means
of abundantly supplying with pure water, the
public and private houses, streets, squares, lanes,
alleys, and other places in Chestertown and its
precincts, and thereby also to prevent the destruc-
tion of public and private property by fire, and for
properly disposing of the said water, and such
other powers as may be necessary to carry into

Proviso.

effect the purposes of this Act; provided, the said
company shall not possess or hold at any one time,
real and personal estate together, above the value
of five thousand dollars, without the consent of
the General Assembly.

Books to be
opened.

Sec. 2. And be it enacted. That the several
persons named above, or a majority of them, may
cause books to be opened at such times and places
as they may direct, giving public notice thereof,
for the purpose of receiving subscriptions to the
capital stock of the said company, which shall be
divided into shares of ten dollars each, and be
limited to five hundred shares, and that the com-
missioners of Chestertown are hereby authorized,
if they shall deem it proper to do so, to subscribe
for fifty shares or any less number, and to collect
the same by taxation in two or more instalments,
in the manner that taxes are now collected by the
said Commissioners.

General meet-
ing of Stock-
holders to be
called.

Sec. 3. And be it enacted, That so soon as fifty
shares of said stock shall be subscribed as afore-
said, and three hundred dollars shall be paid in,
the said thirteen persona, or a majority of them,