400

LAWS OF MARYLAND.

constituted a body politic and corporate by the name
of Potomac and Piedmont Coal and Railroad Com-
pany," and by that name shall have succession,

Powers.

and have power to sue and be sued in any Court
whatever, and may have and use a common seal,
and the same alter and renew at pleasure, and
shall have all the powers, rights and franchises
necessary and proper for the carrying on the min-
ing of coal, the building of furnaces, the burning
of brick and disposing of the same, and for the
transportation of coal and other products of its
mines and property to market, and shall have

By-laws.

power and authority to make and pass such by-laws,
rules and regulations for the management and
government of the affairs of said corporation and
its officers, directors and agents, as may be deemed
necessary or proper, which may also be amended,
changed or repealed at any and all regular meet-
ings of the stockholders of said Company ; provid-

Proviso.

ed, hotvever, that such by-laws shall not be repug-
nant to any law of this State or of the United
States.

Capital stock.

Sec. 2. Be it enacted, That the capital stock of
said Company shall not exceed the sum of five mil-
lions of dollars, to he divided into shares of one
hundred dollars each, and shall be considered as
personal property, and shall be transferable in
such manner as may be provided by the by-laws
of said company, and each share thereof shall enti-

Voting.

tle the holder thereof to one vote in all meetings
of the stockholders of said Company, to be given
either in person or by proxy, and for the purpose
of obtaining subscriptions to the said capital stock
books shall be opened under the direction of the
said H. G. Davis, T. B. Davis, W. B. Davis, and
W. J. Armstrong, of West Virginia, J. Phillip
Roman, of Cumberland, Maryland, R. G. Rieman
and James Boyce, of Baltimore, in the State of
Maryland, or a majority of them, at such times and
at such place or places as the person who may act
in that behalf shall deem expedient, and payment
may be made for the whole or any part of such
subscription, either in land or other property or
money, and if lands or other property then at such
price and valuation as may be agreed upon by
those receiving such subscription, and in case the

Subscription.

said Company shall organize and proceed to act as