1833.

LAWS OF MARYLAND,

CHAP. 4.

answer and defend and be answered and defended in any
court of law or equity, and in any other place whatsoever,
to receive and make deeds and contracts; to make, have
and use a common seal, and the same to change, alter or
renew at pleasure, and generally to pass all such bye laws
as may be necessary to regulate its affairs; and do all such
acts as shall be proper and necessary for the purpose of
establishing and conducting a line or lines of steam
boats, vessels, stages or other carriages, for the convey-

Objects

ance of passengers and transpoitation of goods, wares,
merchandise, grain, produce, and any and all other things
whatsoever between the city of Baltimore and the head
waters of great Choptank river, or to and from any other
place or places, on the Chesapeake bay or any of the wa-
ters thereof.

Capital 2000 shares
of $25 each

Sec. 2. And be it enacted, That the capital stock of
said corporation shall be divided into shares of twenty-five
dollars each, and shall not exceed two thousand shares,
including the shares already subscribed for by the persons
herein before incorporated) the residue of said number of

shares, or so many of them as from time to time by the di-
rectors shall be deemed necessary, may be subscribed for
or disposed of in such manner as the bye laws of said cor-
poratios shall provide; and each subscriber for one or

Payments.

more shares, who hath paid or shall pay five dollars on
every such share, to the use of said corporation; and every
person who shall obtain by transfer, or in whom shall be
vested by law, one or more shares of the capital stock

Membership

aforesaid, shall be deemed a stockholder, and in virtue
thereof a member of the corporation hereby created; and
shall so continue until he, she or they shall cease to be a
stockholder, by transferring all his, her or their shares of
stock, or by forfeiting the same in die manner hereinafter
mentioned, and every person, on so ceasing to be a stock-
bolder, shall cease to be a member of said corporation.

General meeting

Sec. 3. And te it enacted, That there shall be a general
meeting of the stockholders of said corporation on the first
Monday in May in each in every year, or on such day
within sixty days thereafter, and at such place as shall be
appointed by the President and Directors, for the purpose

Election pf officers.

of choosing, by ballot or otherwise, twelve members of said
corporation, to be directors, to manage the affairs thereof
for twelve months, and until successors shall be chosen;
and in all meetings and elections every stockholder shall
be entitled to give in person or by proxy, one vote for each