die, resign or refuse to act, another or others may
be appointed in his or their stead, by a majority
of the remaining Commissioners.

Sec. 2. And be it enacted, That the subscribers
to said stock and their successors and assigns shall
be, and they are hereby declared to be incorpora-
ted into a Company, by the name of the Balti-
more and Hall's Springs Railway Company, and by
that name shall be capable in law of purchasing,
holding, selling and conveying property, real,
personal and mixed, as far as shall be necessary
for the purpose hereinafter mentioned, and no
further, and shall have perpetual succession; and
by such corporate name may sue and be sued, and
may have and use a common seal, which they may
have the power to alter or renew at their pleasure,
and shall have, and enjoy and may exercise all the
rights, powers and privileges incident and necessa-
ry to the purpose of said Corporation as created by
this Act.

Name, &c.

Sec. 3. And be it enacted, That the subscrip-
tions to the capital stock of said Company shall be
in shares of twenty dollars each, to such amount
as the Commissioners aforesaid, or a majority of
them may deem necessary, not exceeding twenty
thousand shares; and upon every subscription,
there shall be paid at the time of subscribing, to
the said Commissioners or their agents, the sum of
two dollars on every share subscribed, and the re-
sidue thereof shall be paid in such instalments
and at such times as may be required by the Presi-
dent and Directors of said Company, and if any
subscriber shall fail or neglect to pay any instal-
ment or part of said subscription thus demanded,
for the space of sixty days next after the time,
when the same 'shall be due and payable, the stock
on which it is demanded shall be forfeited to the
Company, and may be sold by the said President
and Directors for the benefit of the Company; but
the President and Directors may remit any such
forfeiture on such terms as they may deem proper,

Capital stock
—amount to be
paid on sub-
scribing.

Sec. 4. And be it enacted, That as soon as one<
thousand shares of twenty dollars each, of said
capital stock shall have been subscribed, the said
Commissioners or a majority of them, shall call a
general meeting of the subscribers, at such times

Meetings, elec-
tion of Direc-
tors, &c.