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EDWARD LLOYD, ESQUIRE, GOVERNOR.
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, Sundays excepted,
for the space of three days, if three days shall be necessary;
Provided nevertheless, that the said commissioners shall not permit
any one person or company to subscribe for more than twenty-five
shares during the first day on which the said books shall be opened
in the said company, nor more than fifty shares on the second day
on which the said books shall be opened; and if, at the expiration
of the said three first days, the said books shall not have, for the
said road, the full number subscribed, the said commissioners may
adjourn from time to time until the number of shares shall be respectively
subscribed, of which adjournment public notice shall be
given in the papers aforesaid; and when the said subscriptions in
the said books shall amount to the said respective numbers aforesaid,
the same shall be closed; Provided always, 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, out of
which shall be defrayed the expense attending taking such subscription,
and other incidental charges, and the remainder shall be deposited
in the Hager's-town bank, in the county of Washington, for
the use of the company aforesaid, as soon as the same shall be organized,
and the officers chosen as herein after mentioned. |
NOV. 1809.
CHAP. 96.
Proviso. |
3. AND BE IT ENACTED, That when two thousand
shares or more
of the said stock in the said company shall have been subscribed,
the said commissioners heretofore named shall, as soon as convenient,
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 a majority of votes
of the said subscribers, by ballot, to be delivered in person, or by
proxy duly authorised, a president, eight managers, a treasurer,
business of the said company, until the third Monday in October
next (a), and until like officers shall be thereafter chosen, and make
such by-laws, rules, orders and regulations, as do not contravene
the constitution and laws of this state, and may be necessary for the
well governing the affairs of the said company; Provided always, that
no person shall have more than twenty-five votes in any election,
or in determining any question arising at such meeting, whatever
number of shares he, she or they, may be entitled to notwithstanding,
and that each person be entitled to one vote for every share
so held under the said number twenty-five.
(a) By Dec. 1813, ch. 138, the
election of president, &c. confirmed; and by
1816, ch. 21, future elections to be on the second Monday of October annually. |
A president, eight
managers, &c. to
be chosen. |
4. AND BE IT ENACTED, That the stockholders
in the said company
shall be and they are hereby incorporated and constituted a
body politic, by the name of The President, Managers and Company,
of the Hager's-town Turnpike Road Company, and by the
same name, the said subscribers, and their successors, shall have
succession during the continuance of this incorporation, and shall
have all the privileges and franchises of, or incident to, a corporation,
and shall be capable of taking and holding the said capital
stock, and the increase and profits thereof, and of enlarging the |
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