1831.

LAWS OF MARYLAND.

CHAP. 59.

of receiving subscriptions to the capital stock of said com-
pany, after giving such notice of the times and places of
opening the same as they may deem proper, and when first
opened, shall keep the same open for three successive days,
from ten o'clock, A. M. until three o'clock, P. M. and if at
the expiration of that period, the subscription necessary to
the incorporation of said company shall not have been ob-
tained, the said commissioners, or a majority of them, may
open the said books from time to time thereafter, to receive
subscriptions to the said stock, until the sum necessary for
the incorporation of said company shall have been subscri-
bed; and if any of said commissioners shall die, resign, or
refuse to act, during the continuance of the duties devolved
upon them by this act, the remaining commissioners, or a
majority of them, may appoint another instead of the one so
dying or refusing to act.

Capital stock.

Sec. 2. And be it enacted, That the capital stock of the
Baltimore and Wheeling Transportation Company, shall be
two hundred thousand dollars, in shares of one hundred dol-
lars each, and that as soon as five hundred shares of the said
capital stock shall be subscribed, the subscribers of the
said stock, their successors and assigns, shall be, and they

Incorporation.

are hereby declared to be incorporated into a company, by
the name of 'The Baltimore and Wheeling Transportation
Company,' and, as such, shall have perpetual succession,
and by said corporate name, may sue and be sued, and may
have and use a common seal, and shall have, enjoy, and may
exercise for the purposes mentioned in this act, all the pow-
ers, rights and privileges incident to corporations.

Instalments

Sec. 3. And be it enacted, That upon every such subscrip-
tion, there shall be paid, at the time of subscribing, to the
said commissioners or their agents, appointed to receive
such subscriptions, the sum of twenty five dollars on every
share subscribed, and the residue thereof in such instalments,
and at such times, as may be required by the president and
directors of said company; Provided, That no payment shall
be demanded until at least thirty days notice of such demand
shall have been given, by the said president and directors,
in at least one newspaper printed in the city of Baltimore,
and one newspaper printed in the Town of Wheeling, in
the State of Virginia; and if any subscriber, or his assignee
or assigns, shall fail or neglect to pay any instalment so de-
manded, or any part thereof, for the space of thirty days
next after the same shall become due and payable, the stock
on which it is demanded, shall be forfeited to the said com-
pany, and may be sold by the president and directors there-
of for its benefit, but the said president and directors may