|LAWS OF MARYLAND.
one hundred and eighty-six, passed March twenty-
eighth, eighteen hundred and sixty-eight, entitled an
Act to incorporate the Maryland Union Coal Com-
pany, which reads as follows:
'' And they may receive subscriptions to said stock,
payment for which may be made, either in land, or
other property, or in money in whole or in part;
and if in lands, or other property, then at such price
and valuation as shall be determined by three sworn
appraisers mutually agreed on."
Shall be and the same is hereby repealed, amended,
and re-enacted to read as follows:
" That subscriptions to the capital stock of said
company may be made in land or other property at
a valuation agreed upon between said company and
the subscriber, where the property so subscribed
shall be such as it is proper that the said company
shall own for the advancement of the purposes for
which it was incorporated, but such subscriptions shall
not be otherwise received, nor shall they he so re-
ceived, unless the same shall have been previously
authorized by the stockholders assembled in general
meeting, pursuant to a call to consider the propriety
of receiving the said subscription, and of fixing the
terms upon which it shall be received, as in accord-
ance with section fifty-six of the General Incorpora-
tion Law of the State of Maryland, passed March
thirtieth, eighteen hundred and sixty-eight.
SEC. 2. And be it enacted. That this Act shall take
effect from the date of its passage, and that the Gen-
eral Assembly reserves the right to alter or repeal
the same at pleasure.
Approved April 1, 1872.