GEORGE HOWARD, ESQ. GOVERNOR.

1831.

after the expenditure of said money, a true, full and fair ac-
count of all the money by them laid out and expended by
virtue of this act, in rebuilding said bridge, and that the
said authorities in their respective counties, shall make

CHAP. 160.

such compensation to the said commissioners, as they, in
their judgment shall think proper.

Compensation.

CHAPTER 160.

An act to Incorporate the Frederick Fire Insurance Com-
pany.

Passed Mar. 1,1831

WHEEEAS, it is represented to this General Assembly,
that the establishment of an institution in the city of Fre-
derick, for insuring buildings and certain descriptions of
personal property, against loss or damage by fire, would be
of great public utility, by alleviating the distress to which
individuals are exposed, affording additional security to
commercial transaction's, facilitating trade and internal com-
merce, and thereby essentially securing and increasing the
wealth and resources of society — Therefore,

Preamble.

Section 1. Be it enacted by the General Assembly of Mary-
land, That the capital stock of the said company shall con-
sist of two hundred thousand dollars, in shares of twenty
dollars each, and that subscriptions for the same he opened
at the City Hotel, in Frederick, under the direction of
John L. Harding, Henry Nexdorff, John Kunkle, George
Schultz and Daniel Hughes, or any three of them, as com-
missioners.

Capital stock—
shares,commission

Sec. 2. And be it enacted, That the said commissioners,
after giving two weeks notice in one or more of the news-
papers printed in Frederick, of the time and place of re-
ceiving subscriptions, shall proceed to receive the same;
but no person or persons, bodies corporate or otherwise,
shall be permitted to subscribe on the first two days, for
more than twenty shares, and if the whole amount shall not
be subscribed for on the first two days, the books shall re-
main open a third day, when any person or persons, bodies
corporate or otherwise, may subscribe for any number of
shares remaining unsubscribed for, and at the end of the
third day, the said commissioners shall close the said sub
scription books, and in case there shall then remain any.
stock unsubscribed for, the president and board of direc-
tors, to be appointed in manner hereinafter provided, shall
be competent to re-open said books whenever they may
deem it expedient.

Books of subscrip-
tion.