560

LAWS OF MARYLAND.

Name.

into a Company, by the name of the Baltimore and
Swann Lake Passenger Railway Company, and by
that name shall be capable in law of purchasing,
holding, selling and conveying, encumbering and
contracting for any property, real, personal or
mixed, that may be necessary for the purposes and
objects of said Company, as hereinafter mentioned,
and no further, and by such corporate name shall
have perpetual succession, and may sue and be
sued, and may have and use a common seal, and
alter or renew the same at their pleasure, and shall
have and enjoy, and may exercise all the rights,
powers and privileges incident or necessary to the
purposes of said Corporation, as created by this
Act.

Capital stock.

Sec. 3. And be it enacted, That the subscriptions
to the capital stock of said Company shall be in
shares of twenty dollars each, to such amount as
the said Commissioners aforesaid, or the President
and Directors when elected, or a majority of them,
may deem necessary, not exceeding seven thousand
shares, and upon every subscription there shall be
paid at the time of subscribing to the said Com-
missioners or their agent, or to the said President
and Directors or their agent, as the case may be,
the sum of one dollar on every share subscribed,
and the residue thereof shall be paid in such in-
stallments and at such times as may be required
by the President and Directors of said Company,
and if any subscriber shall fail or neglect to pay
any installment or part of any subscription thus
demanded, for the space of sixty days next after
the time the same shall be due and payable, and
notice thereof given to him, the stock on which
such installment is thus demanded shall be for-
feited to the Company, and may be held by it, or
sold for its benefit by the President and Directors,
but they may remit any such forfeiture on such
terras as they shall deem proper.

General meet-
ing.

Sec. 4. And be it enacted, That as soon as one
thousand shares of twenty dollars each shall be
subscribed, the said Commissioners, or a major-
ity of them, shall cause a general meeting of the
subscribers at such time and place as they may ap-
point, giving at least ten days' notice thereof, in
one or more newspapers published in Baltimore