| 1816.
CHAP. 251.
Passed Feb. 5, 1817. |
LAWS OF MARYLAND.
CHAP. CCLI.
An Act to Incorporate the Gas Light Company of Baltimore.
Lib.
TH. No. 5, fol. 417. |
Stockholders incorporated.
Proviso. |
1. BE IT ENACTED, by the General Assembly
of Maryland, That
Rembrandt Peale, William Lorman, James Mosher, Robert Cary
Long, and William Gwynn, and all such persons as shall associate
with them by becoming stockholders in the manner hereinafter
provided, their successors and assigns, shall be and they are hereby
made and constituted a body politic and corporate, by the name,
style and title, of The Gas Light Company of Baltimore, and by
that same name, style and title, shall have continual succession,
and shall be able and capable in law to sue and be sued, to plead
and be impleaded, to answer and be answered, in any court of law
or equity, and to make, have and use, a common seal, and the
same at pleasure to alter or renew; and generally to do and perform
all such acts, and make all such contracts and agreements,
and purchase, lease, hold, use and possess, such lands, tenements,
hereditaments, goods and chattels, as may be necessary for carrying
on the manufacture of, or for procuring or collecting Gas or
inflammable air, and preserving, using, and distributing the same,
as a mean of giving light, or for any other useful purpose, or for
lighting with Gas the streets, squares, lanes and alleys, and the
houses, and other buildings and places in the city and precincts of
Baltimore, or elsewhere, within this state; or for carrying on any
manufacture necessary for converting to useful purposes the products
of any substances which may be employed in making or
procuring Gas, and for disposing of the same; Provided always,
that the said company shall not, at any one time, hold or possess
real and personal estate together above the value of one million of
dollars, without the consent of the legislature being first obtained. |
| Capital stock. |
2. AND BE IT ENACTED, That the capital stock
of the said company
shall be divided into shares of one hundred dollars each, and
until the sum of one hundred thousand dollar shall be expended
or invested as capital, as is hereinafter described and defined,
the number of shares shall amount and be limited to eleven hundred;
of which number one hundred shares shall be set apart to be
assigned to the above named Rembrandt Peale, over and above his
proportion as a member of the company, as a compensation in full
for transferring to the Gas Light Company of Baltimore, so far
as respects the city and precincts of Baltimore, the patent right
assigned to him by Doctor Benjamin Kugler, of Philadelphia,
to use his improvements in the mode of manufacturing, collecting
and using, carburetted hydrogen Gas, and also for the right
to use in the said city and precincts, all improvements in the
mode of collecting, manufacturing, and using Gas, which have
been or shall be invented or discovered and published, or patented,
by the said Rembrandt Peale, upon which one hundred shares no
payment shall be required; and the remaining one thousand
shares shall be and they are hereby equally divided and apportioned
to and among, and vested in the said Rembrandt Peals,
William Lorman, James Mosher, Robert Cary Long, and William
Gwynn, two hundred shares to each of them in his own distinct
and separate right, the amount thereof, or such part of the
amount of the proportion of each, as shall not have been advanced. |
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