THOMAS SWANN, ESQUIRE, GOVERNOR. 835
tice shall be given by advertisement in at least two
newspapers published in Frederick County, two in
Washington County, and one in Baltimore City ;
and if any subscriber shall fail or neglect to pay
any installment, or part of said subscription thus
demanded, for the space of sixty days next after
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the time the same shall be due and payable, the
stock on which it is demanded shall be forfeited to
the Company, but the President and Directors may
remit any such forfeitures on such terms as they
shall deem proper ; provided always, that in addi-
tion to the forfeitures aforesaid, the said Company
shall be entitled to receive, sue for and recover the
said installments and subscriptions due as afore-
said, in such manner as other debts are now re-
coverable at law.
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Forfeiture.
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Sec. 8. And be it enacted, That if the capital stock
of said Company shall be deemed insufficient for
the purposes of this Act, then and in that case,
it shall and may be lawful for the President and
Directors of said Company or a majority of them,
from time to time to increase the said capital stock
by the addition of as many shares as they may
deem necessary, to an amount not exceeding two
and a half millions of dollars, for which they may
at their option, cause subscriptions to be received
in the manner to be prescribed by them, or may
sell the same for the benefit of the Company, to
any individual or any company incorporated by the
laws of this State, which are hereby authorized to
buy the same, and the said President and Direc-
tors or a majority of them, shall have power to
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Increase cap-
ital stock.
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borrow money for the purposes of this Act, from
any individuals or corporations incorporated by
the laws of this State, which are hereby author-
ized to lend the same, to issue certificates, bonds
or other evidences of debt, for such loans and
mortgage, or pledge the property of said Company
for the payment of the same, and its interest, to
to such individuals, corporation or corporations for
their use and benefit.
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Borrow
money.
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Sec. 9. And be it enacted, That the said Presi-
dent and Directors may appoint all such officers,
agents and servants whatsoever, as they may deem
necessary for the transaction of the business of the
Company, and may remove them at their pleasure ;
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Appoint
officers, &c.
:
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