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LAWS OF MARYLAND.

lish such by-laws, ordinances and regulations as
may appear necessary for the regulating of the
concerns of said corporation not being contrary to
this Act, to erect or establish chemical works in'
Baltimore city or county or in either place ; to
purchase and sell all kinds of chemicals whether
manufactured or not, to manufacture and work

Manufacture
chemicals.

chemicals in all its branches, and generally to do
all such acts and things as shall be proper and ne-
ceseary to procure chemicals, to work and manu-
facture the same, and to sell and dispose of the
same, provided that nothing herein shall be so
construed as to authorize any violation by the said
Company of the Charter of the city of Baltimore
or its municipal regulations thereunder.

Capital stock.

Sec. 2. And be it enacted, That the capital stock
of said corporation shall be one hundred thousand
dollars, divided into two thousand shares of fifty
dollars each ; and privilege is hereby given to the
said Company to increase its capital stock to three
hundred thousand dollars by new subscriptions
whenever the same shall be so determined by the
Board of Directors.

Subscriptions.

Sec. 3. And be it enacted, That the persons
named in the first Section of this Act or a majority
of them be and they are hereby appointed Com-
missioners to receive subscriptions to the capital
stock of said Company, and they or a majority of
them may cause books to be opened at such time
and place in Baltimore city or elsewhere, as they
may direct, for the purpose of receiving such sub-
scriptions, and may keep the same open until the
whole number of shares shall have been taken or
subscribed for.

Failure to pay

Sec. 4. And be it enacted. That if any subscriber
or his assignees shall refuse or neglect to pay the
amount of his subscription or its equivalent for
the space of twenty days next after the same may
be due and payable, the stock on which the same
is due or redeemable shall not be forfeited to the
said Company, but the original subscriber shall
and may be liable for the full amount due on said
stock.

Sec. 5. And be it enacted, That the persons
named in the first Section of this Act shall be Di-