THOMAS SWANN, ESQUIRE, GOVERNOR. 417
CHAPTER 241.
AN ACT to authorize the Atlantic and Georges'
Creek Coal Company of Baltimore to reduce its
capital stock and to levy an assessment upon the
reduced number of shares.
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SECTION 1. Be it enacted by the General Assembly
of Maryland, That the Atlantic and George's
Creek Coal Company of Baltimore, a corporation
incorporated under the provisions of Article
twenty-six, of the Public General Laws of this
State, be and is hereby authorized to reduce its
capital stock from one hundred thousand shares of
the par value of ten dollars each to fifty thousand
shares of the par value of ten dollars each, and
for this purpose it may call in its original stock
and issue new stock pro rata to the holders of said
original stock.
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Reduce stock.
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Sec. 2. And be it further enacted. That the said
Atlantic and George's Creek Coal Company of
Baltimore is authorized to make an assessment of
forty cents per share upon the said fifty thousand
shares to which its capital stock shall be so re-
duced in order to add to the working capital and
improvements of said corporation, which said as-
'sessments upon said stock shall be paid by the
holders or owners thereof in such manner and at
such times and in such amounts as the said At-
lantic and George's Creek Coal Company may de-
termine.
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Assessment.
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Sec. 3. And be it further enacted, That it shall
be lawful for the said Atlantic and George's Creek
Coal Company, upon making the assessment au-
thorized by this Act, to credit any stock upon
which any assessment has been paid for the benefit
of said Company, before the passage of this Act,
with the amount of the assessment or assessments
heretofore paid upon said original stock; and it
shall also be lawful for the said Atlantic and
George's Creek Coal Company and it shall have
full power to assess upon any of the reduced stock
on which assessments to the amount of forty cents
per share shall not have been heretofore paid either
the whole amount of said assessment or so much
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Credit stock.
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