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ROBERT WRIGHT, ESQUIRE, GOVERNOR.
3. AND BE IT ENACTED, That so much of the above
recited act,
entitled, An act to incorporate a fire insurance company in the city
of Baltimore, as is inconsistent with, or repugnant to, this act, be
and the same is hereby repealed. |
1808.
CHAP. 48.
Part of an act repealed. |
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CHAP. XLIX.
An Act to incorporate the Union Manufacturing Company or Maryland.
Lib. TH. No. 2, fol. |
Passed Dec. 23. |
WHEREAS it is represented to this general assembly,
by the petition
and memorial of the president and directors of the Union Manufacturing
Company of Maryland, that the stockholders composing
the said company have, by their subscriptions, raised a very
considerable capital, for the purpose of establishing, carrying on
and encouraging, manufactories of all the useful and necessary articles
which have heretofore been imported from foreign countries;
and it being further represented by the said memorial, that the said
company have already made considerable progress in the establishment
of a cotton factory, and other works, to be moved by water,
on the river Patapsco; and the president and directors aforesaid
having, by their said memorial, petitioned this general assembly for
an act of incorporation in favour of the said company, and the general
assembly yielding to the prayer of said petition, therefore, |
Preamble. |
2. BE IT ENACTED, by the General Assembly
of Maryland, That
Robert McKim, William Patterson, William Wilson, Ludwig Herring,
John McKim, James H. McCullogh, John Gill, James Beatty,
Benjamin Ellicott, A.J. Schwartz, Nathan Levering, John Trimble
and William Jones, together with all the stockholders, and all
such persons as may become stockholders, in the said company, be
and are hereby created and declared one body politic and corporate,
by the name and style of The Union Manufacturing Company of
Maryland, and by the same name and style shall, during the continuance
of this act, have succession, and be able to sue and be
sued, implead and be impleaded, in any court of law or equity, and
to make, have and use, a common seal, and the same to change and
alter when and so often as they shall think fit, and to ordain and
establish such by-laws, ordinances and regulations, as shall appear
necessary for conducting the concerns of the said company, not being
contrary to this act, or to the constitution and laws of the
United States or of this state. |
Persons incorporated. |
3. AND BE IT ENACTED, That the capital of
the said company
shall be one million of dollars, money of the United States, to consist
of twenty thousand shares, of fifty dollars each, one thousand
of which shares shall be reserved for the state, if accepted by the
legislature within two years from the time of passing of this act;
and the amount of the said stock may be called in by the president
and directors of said company in such proportions, and at
such times, as they may appoint, on giving two months notice in
at least three newspapers printed in the city of Baltimore, one in
Frederick-town, one in Hager's-town, one in the city of Annapolis,
and one in Easton; but all shares at present unsubscribed for shall
be under the direction of the said president and directors, to be disposed
of by them for the interest of the institution. |
Capital one million
of dollars. |
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