280

LAWS OF MARYLAND.

Repealed

SEC. 7. And be it enacted, That all acts or parts

of acts, inconsistent with this act, be and the same

are hereby repealed.

SEC. 8. And be it enacted, That this act shall take

In force.

effect from the date of its passage.

Approved, April 2d, 1874.

CHAPTER 196.

AN ACT to legalize the organization of the Park-

ton and Manchester Rail Road Company.

SECTION 1. Be it enacted by the General Assembly of

Maryland, That the election of the Directors of the

Legal and valid

Parkton and Manchester Rail Road Company, at a

meeting of the subscribers of the stock held on the

twenty-seventh day of February, in the year eighteen

hundred and sixty-nine, be and the same is hereby

declared to be a full compliance with the require-

ments of the terms of its charter, and a complete

organization of said corporation ; and that all acts of
said Board of Directors are hereby legalized and de-

clared valid.

SEC. 2. And be it enacted, That the subscription

of stock of said Parkton and Manchester Rail Road

Subscriptions
before organi-

Company, made before the organization of said

zation

company, is hereby declared to be a good and suffi-

cient subscription within the requirements of its

charter, notwithstanding there was not two dollars

per share on any part thereof paid at the time of said

subscription, or that a portion of the amount of

stock subscribed was agreed to be paid by the sub-

scribers to said corporation in railroad ties, equiva-

lent to the money value of said stock subscribed ;

provided, that nothing in this act contained shall be

construed to render valid any subscription to the

capital stock of said company, or any promissory

note or writing obligatory given therefor, which