| DEC. 1813.
CHAP. 122. |
LAWS OF MARYLAND.
Turnpike Road, and by the same time the said president and
directors of the aforesaid banks, and their successors, shall have
succession for the purpose of surveying, locating and making, a
turnpike road, commencing at some point to be hereafter determined
by the said company, on the west bank of Big Conococheague,
passing thence to Hancock, and thence to the town of Cumberland
in Allegany county, by the nearest practicable route; which said
company shall be and hereby are clothed and invested, as respects
the said road, with all and singular the rights, privilege, immunities
and advantages, held, used and possessed, by the several turnpike
companies incorporated by an act of assembly passed at November
session eighteen hundred and four, chapter fifty-one, entitled,
An act to incorporate companies to make several turnpike
roads through Baltimore county, and for other purposes, and shall
be entitled to the same tolls, be governed by the same regulations,
and be liable to the same fines, penalties and restrictions, as the
said companies now by law are, and shall elect their president, managers,
and other officers, in the same manner, and at the same
time, that the president, managers and company, of the Baltimore
and Frederick-town turnpike road are by law required so to
do. |
Charters extended
on certain conditions. |
2. And for the purpose of raising a fund to
make and complete
said road, BE IT ENACTED, That the charters of the several banks
now incorporated in the city of Baltimore, in Washington county,
and in Allegany county, shall be and they are hereby contained
and extended to the first day of January eighteen hundred and
thirty-five, and to the end of the session of general assembly
next thereafter, upon condition of the said several banks subscribing,
in proportion to their respective capitals actually paid in at
the time of such subscriptions, for as much stock as is necessary
and sufficient to finish and complete said road as hereinafter directed;
and in case any of the said banks shall augment their capital after
such subscription, the president and directors of such bank are
hereby required, (and upon this condition is the charter of such
bank renewed,) to subscribe for so much stock in said company as
the quota of such bank, with its capital so augmented, would have
been had such augmentation existed at the time of the original subscription
for the stock of said road company, and the sum or sums
of money paid on such increased stock, in case the road shall have
been completed, shall be distributed among the several stockholders
in proportion to the amount of stock by them respectively held. |
Subscription books
to be opened. |
3. AND BE IT ENACTED, That the presidents
of such of the aforesaid
banks, or a majority of them, as determine to accept of the
terms and reap of the benefits proposed to them by the provisions
of this act, be and they are hereby authorised and directed, to
cause books to be opened in the city of Baltimore for the purpose
of receiving subscriptions for said stock, and to do all other matters
and things necessary to carry the provisions of this act into
effect, until the managers of said company are chosen in the manner
hereinafter provided for. |
Managers to be
chosen. |
4. AND BE IT ENACTED, That as soon as the
stock aforesaid
shall have been subscribed, the president and directors of each of
the said banks, so subscribing, shall choose one manager out of the
stockholders in their respective banks for every twenty-five thousand |
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