10I2

LAWS OF MARYLAND.

at such time or times and at such place or places as they may

deem expedient, after giving notice at least once a week for

three successive weeks in one or more newspapers published in

Cecil County, Maryland, and in New Castle County, Delaware.

Books of sub-

SEC. 6. And be it enacted, That said books of subscription

scription.

shall remain open for five successive days from 10 o'clock

A.M. to 2 o'clock P.M.; and in case there should not be suf-

ficient subscriptions made during that time, said commissioners,

or a majority of them, may cause said books to be opened from

time to time and place to place, after the expiration of said five

days, until the amount of subscriptions necessary for the or-

ganization of said company shall have been obtained; and the

remaining commissioners, or a majority of them, are author-

ized to appoint the successor of any commissioner who may die,

resign or refuse to act.

SEC. 7. And be it enacted, That the capital stock of this

Division of

corporation shall be divided into shares of twenty dollars

capital stock,
etc.

each, which may be subscribed for by individuals and corpo-

rations, and as soon as one hundred shares have been sub-

scribed for, and one dollar per share thereof paid in cash,

the subscribers to said stock, their successors and assigns, shall

thereupon and thenceforward be entitled to exercise corporate

powers under the name and title aforesaid, and by that name

shall be capable of purchasing, holding, selling, leasing, mort-

gaging, conveying estates and property, real and personal, and

mixed ; may issue bonds, notes or other evidences of debt, and

of erecting, owning and leasing all necessary buildings, includ-

ing storehouses, elevators for grain, etc., so far as may be

thought necessary for the uses and purposes of this corporation,

which shall have perpetual succession ; may build railroads and

railways of any gauge, and may use as motive powers elec-

tricity, hot air, gasoline, steam, or any other motive power or

powers they may desire to use, and may erect poles and wires

and other things and appliances that they may think suitable

and advantageous to this company and its business; they may

increase their capital stock and bonded indebtedness from time

to time as may be necessary to carry out the objects and plans

and building and equipping of said railroad and railways ; and

by the corporate name may sue and be sued, and may adopt and

use a common seal, which they may alter and renew at pleasure,

To exercise all

and by their corporate name and title shall have, enjoy and ex-

powers,

ercise all powers, rights and privileges which any other body

rights, etc.

corporate may lawfully do.