282

LAWS OF MARYLAND.

as they may direct, for the purpose of receiving
subscriptions, to the capital stock of said Company,
after having given such notice of times and places
of opening th« same as they may deem proper^
and if suck subscription to the capital stock of
said Company as is necessary to its incorporation
be not previously obtained, the said books may be

Books open.

opened from time to time for the period of four
years from the passage of this Act, at the discre-
tion of the said Commissioners or a majority of
them, and if any of the said Commissioners shall
die, resign, or refuse to act, another may be ap-
pointed in his stead by the remaining Commission-
ers or a majority of them.

Subscription.

Sec. 2. And be it enacted, That any individual
or any corporation, incorporated by the Laws of
this State may subscribe for such portion of the
stock of the said Company as to the individual or
corporation may seem proper.

Capital stock

Sec. 3. And be it enacted, That the capital stock
of the Frederick and Emmittsburg Railroad Com-
pany shall be one and a half millions of dollars,
in shares of fifty dollars each, which said capital
stock may be increased at the discretion of the
Directors, to be appointed as hereinafter provided
for, to an amount not exceeding two and a half
millions of dollars, and as soon as one thousand
shares of the said capital stock shall be subscribed,
the subscribers to said stock and their successors
shall be and they are hereby declared to be incor-
porated into a Company by the name of the Fred-
erick and Emmittsburg Railroad Company, and
by that name shall be capable in law of purchas-
ing, holding, selling, leasing and conveying es-
tates, real, personal and mixed, so far as may be
necessary for the purposes hereinafter mentioned,
and no further, and shall have perpetual succes-

Succession.

sion by said corporate name, may sue and be sued,
and may have and use a common seal which they
may alter or renew at their pleasure, and shall
have, enjoy and may exercise all the powers, rights
and privileges which are necessary for the purpose
mentioned in this Act.

Limit.

Sec. 6. And be it enacted, That if the sum neces-
sary for the incorporation of said Company shall
not be subscribed within four years next after the