JOHN LEE CARROLL, ESQUIRE, GOVERNOR

419

CHAPTER 250.

AN ACT to incorporate the Savage Manufacturing

Company, of Howard County, Maryland.

SECTION 1. Be it enacted by the General Assembly of

Atari/land, That William H. Baldwin, Jr., Chris-

Incorporated.

topher C. Baldwin, Summerfield Baldwin, Rignal

W. Baldwin, and Springfield Baldwin, and all such

other persons as may associate with them by be-

coming stockholders in the manner hereinafter pro-

vided, their successors and assigns, shall be and they

are hereby made and constituted a body politic, and

corporate by the name, style aud title of the "Sav-

age Manufacturing Company, of Howard county,

Maryland," and by that name, style and title shall

Powers.

have continual succession, and shall be capable in

law and equity to sue and be sued, plead and be

impleaded, to make and use a common seal, and the

same to alter or renew at their pleasure, and to pur-

chase, hold, improve, dispose of and convey any

lands, hereditaments, goods and chattels, and gen-

erally to do and perform all such acts 'as may be

necessary for carrying on the manufacturing of

cotton or woolen goods, or other manufactures in

their discretion; provided, however, that the said

Proviso

company shall not at any time possess more than

ten hundred acres of land, nor hold nor possess real

or personal estate more than of the value of fifteen

hundred thousand dollars above the amount of debts

they may owe.

SEC. 2. And be it enacted, That the capital stock of

said company shall not exceed the sum of one mil-

Capital stock.

lion dollars, which shall be divided into shares of

one hundred dollars each; and every person who

shall become the owaer of one or more shares of the

said stock by purchase, transfer, devise or distribu-

tion, shall thereupon become and continue to be a

stockholder of said company, so long only as he or

she shall hold said share or shares, which said stock

shall be deemed and held as personal estate, and

Deemed per-

shall be assigned in such manner and under such

sonal estate

restrictions as the by-laws and ordinances made by

the president and directors of said company or a

majority of them shall direct.