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LEVIN WINDER, ESQUIRE, GOVERNOR.
and be entitled to all the benefits and privileges contained in the
act to which this is a further supplement. |
1814.
CHAP. 76. |
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CHAP. LXXVII.
An Act to allow further time to the several Sheriffs and Collectors
therein named to complete their Collections. Lib.
TH. No. 4, fol.
327. |
Passed Jan. 23, 1815. |
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CHAP. LXXVIII.
An Act to incorporate The Bellona Gunpowder Company of Maryland.
Lib. TH. No. 4, fol. 329. |
Passed Jan. 16, 1815. |
1. BE IT ENACTED, by the General Assembly
of Maryland, That
Henry Payson, James Cox, Peter Levering, Alexander Macdonald,
Nicholas G. Ridgely, Thomas Wilson, James Beatty, Aaron
Levering and George Maris, their associates, successors and assigns,
be and they are hereby created a corporation and body politic,
by the name and style of The Bellona Gunpowder Company
of Maryland, and by that name may have perpetual succession,
and shall be able and capable in law to sue and be sued, implead
and be impleaded, answer and be answered, in any court of law or
equity, and to make and use a common seal, and the same to
change and alter at their pleasure, and to ordain and establish such
by-laws and regulations as shall be necessary or convenient for
conducting the affairs of this corporation, and not repugnant to
the laws and constitution of this state or of the United States. |
Company incorporated. |
2. AND BE IT ENACTED, That the objects of this corporation
are declared to be the manufacturing and vending of gunpowder,
and the carrying on of any other branches of manufacture in their
discretion, for which purpose they are hereby authorised to purchase
and hold lands in fee simple, or otherwise, not exceeding
one thousand acres at a time, and to erect thereon all needful and
convenient buildings. |
Objects of corporation. |
3. AND BE IT ENACTED, That the capital stock
of said corporation
shall be one hundred and fifty thousand dollars, and to consist
of three hundred shares of five hundred dollars each. |
Amount of capital. |
4. AND BE IT ENACTED, That there shall be
a meeting of the
stockholders of the said corporation on the first Monday of January
in every year, or within ten days thereafter, for the purpose of
choosing five directors, to manage all the concerns of the company,
who shall be elected by ballot, in person or by proxy, and each
share shall entitle the holder thereof to one vote. |
Meeting of stockholders
to choose
directors. |
5. AND BE IT ENACTED, That the board of directors,
(three of
whom shall be a quorum,) at their first meeting after each annual
election, shall appoint one of their number president, to continue
for that year; and they shall fill up all vacancies which may happen
in their body during the year; they are also authorised to employ,
compensate, and dismiss at pleasure, all officers, agents and
superintendants, which may be thought needful or beneficial to the
company; they shall establish regulations for the transfer of the
stock thereof, and for proof of the ownership therein; they shall
have power in behalf of the company to enter into contracts, to
make purchases of real estate, and to make purchases and sales of
personal property, and to use therefor the name and seal of the
corporation; they may call for payments by instalments of the |
President—Powers
and privileges. |
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