502

LAWS OF MARYLAND.

stockholders may adjourn a meeting from time to
time.

Personal pro-
perty.

Sec. 9. And be it enacted, That the said shares
of stock shall be personal property to all intents,
certificates thereof may be issued in such form as
said Commissioners shall prescribe until the organ-
ization of the corporation, and afterwards in such
form as the by-laws shall prescribe, the said shares
may be transferred in such manner as the by-laws
shall prescribe, but no share shall be transferred
without the consent of the corporation until all calls
or assessments previously made thereon shall have
been paid up.

Installment.

Sec. 10. And be it enacted. That there shall be
paid on every share of such stock two dollars at
the time of subscribing or organizing of said cor-
poration, and the residue of the subscription shall
be paid whenever assessed or called for by the
Board of Directors, by giving thirty days' notice
upon default in the payment of any sum due in
the payment of any sum due on subscription, the
stock may be forfeited and sold for the payment
thereof, with interest and expenses, under such
regulations as the by-laws shall prescribe, or the
corporation may by suit recover the same from the
holder of the stock at the time of the assessment
thereof.

Work the
road.

Sec. 11. And be it enacted, That the said cor-
poration shall have authority to construct, main-
tain and work the railroad mentioned in the first
Section of this Act, and branches or lateral rail-
roads from its main line not exceeding five miles
in length.

Toll.

Sec. 12. And be it enacted, That for transporta-
tion on its railroads and branches or any part
thereof, the said corporation shall have a right to
charge and collect as toll and transportation
charges, at rates not exceeding six cents per ton of
property or four cents per passenger for each mile
of transportation, but for any distance twenty-five
cents may be charged for a passenger or for any
quantity of freight.

Tracks.

Sec. 13. And be it enacted. That the said railroad
and branches may be constructed with as many
sets of tracks as the corporation shall deem proper,