| 1817.
CHAP. 225.
Proviso. |
LAWS OF MARYLAND.
C. Henry, and Richard Pattison, who are hereby appointed commissioners
for the purposes aforesaid, who shall, on or before the
first Monday in May next, procure books, and in each enter as
follows, to wit: " We, whose names are hereunto subscribed, do
promise to pay to the president and managers of the Cambridge
wharf company, the sum of ten dollars for every share of stock in
said company set opposite to our respective names. Witness our
hands this _____ day of _____ eighteen hundred and eighteen;"
and shall give notice in the Easton papers for three weeks,
of the times when, and places where, the said books will be open
to receive subscriptions of stock for the said company, at which
times and places at least two of the said respective commissioners
shall attend, and shall permit and suffer all persons who shall offer
to subscribe, in person or by attorney duly authorised, in the said
books, which shall be kept open for that purpose at least four hours
every day for the space of three days, if three days shall be necessary;
Provided, that every person offering to subscribe in the said
books in his own name, or in the name of any other person, shall
upon subscribing pay to the attending commissioners one dollar for
every share to be subscribed. |
Subscribers to
meet to appoint
officers. |
3. AND BE IT ENACTED, That when five hundred
shares or more
of the stock in the said company shall have been subscribed, the
said commissioners heretofore named, or a majority of them, shall
as soon as conveniently may be, give thirty days notice in the papers
aforesaid, of the time and place by them appointed for the
subscribers to meet in order to organize the said corporation, and
to choose by ballot eight managers, who when they shall have been
organized by their electing a president either from among their own
body or the stockholders, shall have full power and authority to
appoint a treasurer, and such other officers as shall be deemed by
them necessary to conduct the business of the said company, and
the same to remove, reappoint, and their own vacancies to fill, at
their will and pleasure. |
| Subscribers incorporated. |
4. AND BE IT ENACTED, That all persons who
shall become subscribers
to the said company, their successors and assigns, shall be
and are hereby made a corporation and body politic, by the name
and style of The President and Managers of the Cambridge Wharf
Company, and by the same name the said subscribers, and their
successors and assigns, shall have succession, and shall have all
the privileges and franchises of or incidental to a corporation, and
shall be capable of purchasing and taking to themselves, and their
successors, all such lands, tenements, hereditaments, and estate real
and personal, as shall be necessary to them in the prosecution of
their work, and to carry into effect the intentions of this act, and
of suing and being sued, answering and being answered, defend
and being defended, and the said company shall have power to
make a common seal, and alter, break and renew the same at pleasure. |
Payments, how to
be made. |
5. AND BE IT ENACTED, That the sum so subscribed
shall be paid
to the president and managers elected agreeably to this act, in the
manner following, to wit: One-fifth part thereof, (including
the
one dollar paid to the commissioners at the time of subscribing,) at
the end of one month after the election of managers, and the remainder
in such sums and at such times and places as the president |
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