JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 49

necessary and proper for the government of said corporation and not contrary to the constitution and laws of this State or of the United States.
SEC. 2. And be it enacted, That the capital stock of said corporation shall not exceed the sum of one hundred and fifty thousand dollars, and shall be de- vided into shares of twenty-five dollars each; and every person becoming the owner of one or more shares of said stock shall in virtue thereof be a mem- ber of said corporation, subject to such regulations as the by-laws of said corporation may prescribe;	Capital stock.
and the said capital stock may in whole or in part consist of or be vested in the canal herein provided to be cut, lands, steamboats, barges or other vessels, wharves, graneries, buildings, machinery, tools, and such other property as may be necessary or useful to constitute said corporation a canal and navigation company; when the sum of ten thousand dollars shall have been taken or subscribed, the said corpo- ration is hereby authorized to fully organize by the selection of a President and other officers, who shall manage the affairs of the corporation for one year, and until their successors are elected and qualified; to adopt by-laws for their government and to pros- ecute the work.	Consist of.
SEC. 3. And be it enacted, That said corporation be hereby authorized to cut and make a canal through the county of Talbot in this State, and thereby con- nect the waters of Miles River and Third Haven River, with works, locks, offices and appurtenances that may be needful, and with all the rights and privileges properly belonging to such a corporation; said canal shall start from some convenient point on Miles River or Third Haven River, or some of the creeks, estuaries or arms of the same, or emptying into the same, to be determined by future survey, and be so located and constructed as to connect those rivers.	Authorized to cut canal.
SEC. 4. And be it enacted, That said corporation shall have power, and they are hereby authorized, to agree, contract with and provide for all engineers, artists, superintendents, officers and hands, and for hire and use of all dredges, machines, vessels, en- 4	Authorized to contract.