590 CAPE SABLE COMPANY'S CASE.—3 BLAND.

pauy was owned by Caton, and his connexions, lest the affairs of
the corporation should be completely in their power, and all the
property subject to their control, and to their disposal, the Act
directs the manner in which the affairs of the company shall be
conducted; to wit: by a president, two directors, and an agent.
It vests in the corporation the power "to sell and dispose of their
property, to mortgage the same or any part thereof with the con-
sent ol three-fourths of the stockholders, holding three-fourths of
the shares, for securing of any loan or debt.'' The Act of incor-
poration authorizes the company to make bylaws, &c.; but, lest
the funds of the company should, by a majority, be applied to
other objects than those in view, at the passage of the law, it pro-
vides, that "the company shall engage in no other manufacture,
except that of alum and copperas, without the consent in writing
of three-fourths of the stockholders, holding three-fourths of the
shares." 1818, ch. 195.

On the th of August, 1822, Addison Ridout, Joseph Jubere,
and the other complainants in this cause, the persons beneficially
entitled to the property under the deed of trust from John Gibson,
filed a bill in this Court against the Cape Sable Company, Charles
Carroll, Richard Caton, Alexander Mitchell and William Mc-
Mechen, lor an account of the profits of the company, and for the
payment of what might appear due to them. This bill and the
exhibits hied therewith are parts of the present bill. To that bill
no answer has yet been made.

On the 29th of November, 1822, Richard Caton. one of the de-
fendants to the first bill, and called on by it to give an account
* of the state of the concerns, in lieu of furnishing that ac-
609 count, wrote to a practising attorney of Anne Arundel
County, as follows: "I hereby authorize Alexander Contee Ma-
gruder, Esq. to appear to a suit to be docketed in Anne Arundel
County Court, in the name of Robert and John Oliver on the
within narr. and to confess judgment thereon. Baltimore, 29th
Nov'r, 1822. Richard Caton, Pres'd't of the A. & Copp's Co. of
Cape Sable." In virtue of this authority, the following note was
made. "Enter my appearance for deft and a judgment as above.
A. C. Magruder, for deft." In virtue of this authority, on the
9th December, 1822, at the adjourned October Term, a suit was
docketed as follows: "Robert Oliver and John Oliver v. The Cape
Sable Company. Case narr. Docketed by consent. Errors re-
leased. Judgment for $30,000 cur't money, damages and costs.
To be released on payment of $17,000, cur. money, with interest
thereon from the 20th day of February, 1822, and costs." No ac-
count was filed in the cause; and all the authority for the judg-
ment is as disclosed. Immediately on obtaining a judgment, a
fieri facias issued; and the whole property of the company, real
and persosal, is taken in execution; and on the 14th of the same