JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 473
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at such meeting, shall elect a President and five
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Directors, to serve until the first Monday of the
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following January, and then to be elected annually
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thereafter.
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SEC. 5. And be it enacted, That the stockholders
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of said company, are hereby created a body politic
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Incorporated.
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ard corporate, by the name of the "Fallston Turn-
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pike Company," and by that name shall have per-
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petual succession, and shall have all the privileges
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and franchise of corporation, and may sue and be
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sued, make a corporate seal and by-laws for the man-
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agement and regulation of the company ; such by-
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laws not to be inconsistent with the laws of this
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State.
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SEC. 6. And be it enacted, That the President and
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Directors of said company shall manage and direct
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Management-
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all its concerns and affairs; and that three Directors
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and the President shall constitute a quorum for the
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transaction of any business; and if a vacancy occurs
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in the Presidency, a President shall be elected by
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the Directors to serve until the next election by the
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stockholders.
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SEC. 7. And be it enacted, That the President and
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Directors shall have power to purchase a site for,
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Purchase sito
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and erect a toll-house thereon, and to cause toll to
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be collected for the benefit of the said turnpike,
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after three miles of it shall have been completed.
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SEC. 8. And be it enacted, That the subscribers for
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Subscribers.
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stock of said company shall pay to the President and
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Directors aforesaid, the amounts of their subscriptions
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in such instalments and at such times as they may
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appoint and require.
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SEC. 9. And be it enacted, That the rates of toll
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shall not exceed the rates charged by the Baltimore
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Rates of toll
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and Harford Turnpike Company.
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SEC. 10. And be it enacted, That the said President
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and Directors shall have power to erect such toll-
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Erect toll gate
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gates as they may deem necessary, not exceeding one
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gate to each three miles of said turnpike, so soon as
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said three miles shall be completed; and shall have
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power to purchase the sites for said gates, and locate
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