898

LAWS OF MARYLAND.

Failure to pay
installments.

stock is held by an assignee, transferee, or the
original subscriber, the same may be collected by
action of debt, or the Directors may sell the stock
so unpaid at public auction, for the installment
then due thereon, first giving thirty days public
notice of the time and place of sale, in some news-
paper in general circulation in the county where
such delinquent stockholders reside, at the time of
making such subscription or becoming such assignee
or transferee, or of his actual residence at the time
of said sale; or if such stockholder reside out of
the State, such publication shall be made in the
county where the principal office of the company is
located; and if any residue of money shall remain
after paying the amount due on said stock, the
same shall, on demand, be paid over to the owner;

if the whole of said installment be not paid by such
sale, the remainder shall he recoverable by an ac-
tion of debt against the subscriber, assignee or
transferee.

May increase
capital stock.

Sec. 8. And be it enacted, That whenever any
railroad company heretofore incorporated, or cre-
ated and incorporated under the provisions of this
Act, shall, in the opinion of .the Directors thereof,
require an increased amount of capital stock, they
shall, if authorized by the holders of a majority of
the stock, file with the Comptroller of the State a
certificate setting forth the amount of such desired
increase, and thereafter such company shall be en-
titled to have such increased capital as is fixed by
said certificate.

Open books
for subscrip-
tions.

Sec. 9. And be it enacted, That the persons named
in said certificate of the corporation, or any three
of them, shall be authorized to order books to be
opened for receiving subscriptions to the capital
stock of said company, at such time or times, and
at such place or places, as they may deem expe-
dient, after having given at least thirty days notice
in a newspaper published, or generally circulated,
in one or more counties where books of subscrip-
tion are to be opened, of the time and place of
opening books; and so soon as ten per centum on
the capital stock shall be subscribed, they may give
like notice for the stockholders to meet at such
time and place as they may designate, for the pur-
pose of choosing seven Directors, who shall con-