THOMAS SWANN, ESQUIRE, GOVERNOR

Thomas J. Tabbott, Charles W. Stow, James
Cooper, McK. T. Wise, David P. Moore, John
Glenn, James Bullock, and the subscribers to the
stock of the Company and their successors, be and
they are hereby declared to be a body politic*and

47

corporate, by the name of the "Continental Fire
and Marine Insurance Company of Baltimore,"
and by that name shall have perpetual succession,
and he capable in law, to sue and be sued, plead
and be impleaded, answer and be answered, defend
and be defended in all courts of law and equity or
elsewhere ; to make and use a common seal, and
the same to alter and renew at pleasure, and gen-
erally to do and perform all things relative to the
objects of this institution, which now is or may be
lawful for any individual or body politic or corpo-
rate to do.

Title.

Sec. 2. And be it enacted, That the capital stock
of said Company shall consist of a sum not exceed-
ing two hundred thousand dollars, with the privi-
lege at any future time to increase the same to any
amount not exceeding five hundred thousand dol-
lars, and the said increase shall be made under
the direction of a two third vote of the Board of
Directors ; the said capital stock of two hundred
thousand dollars shall be divided into twenty
thousand shares, at ten dollars per share, three
dollars per share to be paid in at the time of sub-

Capital stock.

scribing, and the balance of the subscription to
be called in as the Directors may, from time to
time, direct, by giving sixty days notice on each
call, or may be paid out of the net revenue of the
Company, and any stockholder refusing or ne-
glecting to pay an instalment, when required by
the Directors, shall forfeit all interest in the Com-
pany and be liable for his portion of any loss which
may have occurred previous to such neglect or re-
fusal ; provided that such forfeiture may be re-
mitted by the Directors upon the payment of the
principal and interest thereon, and the proportion
of the loss which may have occurred, if applica-
tion be made for such remittance within six months
from the time the forfeiture occurred.

Give notice

Sec. 3. And be it enacted, That as soon as thirty-
five hundred shares are subscribed for and paid, or
secured to be paid, this Company shall be compe-

Transact bu-
siness.