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months thereafter, or until said five hundred
shares shall have been subscribed for ; and said
Commissioners may appoint an agent or agents to
receive such subscriptions, and each of said Com-
missioners may receive such subscriptions, and
any subscriptions thus obtained by any agent or
agents, or by a single Commissioner, whether no-
tice shall have been given by the Commissioners or
not, shall be as effectual as those received at the
opening of the books as before provided ; and any
one of the Commissioners who may be living, from
time to time shall have power to perform any acts
required in this Act to be done by said Commis-
sioners.
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Capital stock.
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Sec. 2. And be it enacted, That the capital stock
of the said Emmittsburg Railroad Company shall
be the sum of three hundred thousand dollars, di-
vided into shares of fifty dollars each, and so soon
as five hundred shares of the said stock shall have
been subscribed for, the subscribers of the said
stock, their successors and assigns, shall be, and
they are hereby declared to be incorporated by the
name of the Emmittsburg Railroad Company, and
by that name shall be capable of purchasing, holding,
selling, leasing and conveying all property and
estates, real, personal and mixed, so far as the same
may be necessary or convenient for the purposes of
the said corporation, and no further ; and shall have
by that name perpetual succession, and may sue and
be sued, and may have and use a common seal,
which they may alter and renew at pleasure, and
may have and enjoy all the rights, and privileges
which any other corporation may have in the State
of Maryland for the purposes contemplated by this
Act.
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Installments.
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Sec. 3. And be it enacted. That there shall be
paid at the time of subscription to the said Com-
missioner or Commissioners, or their agent, the
sum of one dollar on each share subscribed for,
and the remainder thereof shall be paid in such
installments and at such times as may be required
by the President and Directors of said Company ;
but the validity of no subscription shall be affected
by the failure to pay the said sum of one dollar
per share at the time of subscribing, but the same
shall be immediately payable ; and if any sub-
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