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Incorporation
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SECTION 1 . Be it enacted by the General Assembly
of Maryland, That Henry James, Lewis Mayer,
Edward Wilson, Samuel I. Maccubbiri, Henry
Snyder, Joshua Vansant, Thomas R. Mathews, F.
Dorsey Herbert, Daniel Fields, Ephraim Albaugh
and C. P. Montague, and the subscribers to the
stock of the Company and their assigns, be and
they are declared to be a body politic and corpo-
rate by the name of the Johns Hopkins Fire,
Marine and Accident Insurance Company of the
State of Maryland, and by that name shall have
perpetual succession, and be 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 generally to do and perform all
things relative to the objects of its institution which
is now or may be lawful for any individual or body
politic or corporate to do.
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Capital stock.
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Sec. 2. And be it enacted, That the capital stock
of said Company shall consist of three hundred
thousand dollars, divided into thirty thousand
shares of ten dollars each, with liberty to increase
the same at any time hereafter to a sum not ex-
ceeding five hundred thousand dollars, two dollars
to be paid at the time of subscribing, one dollar
in sixty days after the Company shall have gone
into operation, one dollar in ninety days thereafter,
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Installments.
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one dollar in four months thereafter ; the balance
at such periods as the Directors may from time to
time determine after sixty days notice being given
or may be paid from the net revenue of the Com-
pany, provided the said revenue shall in the dis-
cretion of the Directors be amply sufficient to meet
the liabilities of the Company, otherwise the in-
stallments shall be paid upon notice duly given as
aforesaid any stockholder refusing or neglecting
to pay an installment when required by this charter
or by the Directors, shall forfeit all his interest in
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