|
Incorporated
—power and
privileges. |
SECTION 1 Be it enacted by the General Assembly
of Maryland, That James H. Rowland, Thomas
C. Bond, James A. Davis, Robert R. Vandiver,
Henry James, Joseph Mathews, Ravan K. Haw-
ley, John T. Moore, Jesse K. Hines, A. L. Jar-
rett, Richard Grason, A. P. McCombs, and Ro-
bert Fowler, together with such other persons as
may become associated with them in the manner
hereinafter specified, be and they are hereby cre-
ated a body politic and corporate, under the name
of the Cecil and Harford Counties Boom Company,
and by that name shall have perpetual succession,
and may sue and be sued, make and use a com-
mon seal, and pass all by-laws necessary for the
management of the affairs of said corporation, the
regulation of its stock, the calls for instalments
thereon, not repugnant to the laws of this State,
or of the United States. |
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Amount of
Capital Stock,
&c. |
Sec. 2. And be it enacted. That the capital stock
of the said corporation shall be one hundred thou-
sand dollars, with the privilege of increasing the
same to five hundred thousand dollars if its busi-
ness shall so require, divided into shares of one
hundred dollars each, to obtain which the persons
above named shall bo commissioners, and for that
purpose they or a majority of them, or such person
or persons as they or a majority of them shall ap-
point, shall open books of subscription in the city
of' Baltimore, and upon ten days notice of the
time and place of subscribing, by advertisement
published in a newspaper or newspapers in Balti-
more city, Cecil and Harford counties respectively,
said books to be kept open for at least ten days,
and for such longer time as the said commissioners
or a majority of them may think proper, and if
upon closing the said books there shall be found.
to have been subscribed more than one thousand
shares, the said commissioners shall reduce the
subscriptions to one thousand shares in such man-
ner as they may deem equitable; and upon closing
the books) or the adjustment of the subscriptions, |
