JAMES THOMAS, ESQUIRE, GOVERNOR.

1833.

CHAPTER 46,

CHAP. 46.

An act to Incorporate the Steam Milling and Manufactur-
ing Company, of Charles county.

Failed Feb. 15, 1834

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the persons who shall, as hereafter men-
tioned, become subscribers to the capital stock hereby cre-
ated, and such other persons as shall hereafter become
stockholders in the said corporation, are hereby enacted
and declared to be a body politic and corporate, by the
name, style and title of the Steam Milling and Manufactur-
ing company, of Charles county, and by the same name
shall have perpetual succession, and shall be able to sue
and be sued, plead and be impleaded, in all courts of law
and equity, in this state and elsewhere, and to make and
hare a common seal, and the same to break, alter and re-
new at their pleasure, and generally to do every act and
thing necessary to carry into effect this act, or to promote
the object and design of this corporation.

Corporate powers
granted

Sec. 2. And be it enacted, That the capital stock of the
said company shall be twenty thousand dollars, to be divided
into eight hundred shares of twenty-five dollars each, with
power to the said company to increase the same to one hun-
dred thousand dollars, whenever the President and Direc-
tors of the said company may determine so to do; the time,
place and mariner of which augmentation shall be subject
to the direction and under the control of the said President
and Directors.

Capital stock

Sec. 3. And be it enacted, That Robert Diggs, Philip
King, Washington F. Lancaster, George Brent, and Alex-
ander Penn, be, and they are hereby appointed commis-
sioners, to open subscription books for the purpose of re-
ceiving subscriptions to the capital stock of the company
by this act incorporated, and the said commissioners, or a
majority, shall cause said books to be opened at such time
and place, and upon such public notice thereof as to them
shall seem expedient.

Open books for sub-
scription

Sec. 4. And be it enacted, That the stock shall be paid;
in as follows, viz: two dollars and fifty cents on each and,
every share, shall be paid to the commissioners at the time
the subscription is received for the same, and the remain-
ing twenty-two dollars and fifty cents shall be paid on each
and every share in such instalments as the President and
Directors may direct and require, — and in case of default
7

Payment on stock