| 1815.
CHAP. 22.
Proviso. |
LAWS OF MARYLAND.
and Elkton in the county aforesaid, for a capital stock for said
company of thirty thousand dollars, in shares of fifty dollars each,
under the direction of the following commissioners, or any one of
them, to wit: At Charles-town by Samuel Hogg, John N. Black,
William W. Ramsey, William Russell, John Simpers, John Stump,
Levin Gale, Doctor Robert H. Archer and Col. Samuel Hughes;
at Elkton by James Sewell, William Alexander, William H. Ward
and Alexander Scott; who, or a majority of whom, shall meet at
such time as they shall appoint, they giving thirty days previous
notice thereof in the Wilmington and Baltimore newspapers; and
if the subscription shall exceed the capital, the commissioners
shall apportion the same among the subscribers, by proportionate
deductions, so that the whole be reduced to the proper limit; but if
the said subscriptions shall not be filled up on the first day, the
commissioners aforesaid may adjourn from day to day, and at any
time after the first day if the subscription shall be complete the
commissioners shall close the books; Provided, that there shall
be
paid to said commissioners, at the time of subscribing, five dollars
on each share which shall be subscribed. |
| Election of officers. |
3. AND BE IT ENACTED, That when one hundred
shares of said
stock shall have been subscribed, the commissioners shall give
twenty days public notice of the time and place appointed for the
subscribers to meet to organize said institution, and to choose by a
plurality of votes, by ballot, a president and eight managers, (five
of whom shall form a quorum,) a treasurer, and such other officers
as they shall deem necessary to conduct the affairs of the company
until the first Monday in January thereafter, and until a new election,
and to make such by-laws as they shall deem necessary; and
on the first Monday of January in every year, or within ten days
thereafter, said company shall meet for the same purposes, at such
place as the president and managers shall appoint; and in all elections
by stockholders each share shall be entitled to one vote, but
no person or company shall have more than ten votes. |
Stockholders
erected into a body
politic. |
4. AND BE IT ENACTED, That the stockholders
in said company
shall be and they are hereby created and erected into a body
politic and corporate, by the name and style of The Susquehanna,
Charles-Town and Elkton Turnpike Company, and by the same
name shall have perpetual succession, and all the privileges and
franchises incident to a corporation, and shall be capable of suing
and being sued, answering and being answered, and of enlarging
their stock by new subscriptions if the same shall be found necessary. |
Payments, how to
be made. |
5. AND BE IT ENACTED, That the sums so subscribed
shall be
paid to the president and managers aforesaid, in such sums and at
such times as they may appoint, giving two months public notice
of the payment so required. |
Commissioners to
be appointed to
lay out the road—
Oath. |
6. AND BE IT ENACTED, That the president and
managers be
and they are hereby authorised to appoint five commissioners, who,
or a majority of whom agreeing, shall lay out the road from the
lower ferry on Susquehanna river in Cecil county aforesaid,
through Charles-town, and from thence till it intersects the Elkton
and Christiana turnpike road, on as straight a line between each
of said places as the nature of the ground, and other circumstances,
will admit of, having regard to hills and other obstructions; and |
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