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hand and seal, obligating himself in the event of the
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CHAP. 222.
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president and directors of said company objecting to
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the price demanded by him, to take in full payment for
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said land and water power, such number of shares of
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stock as may be awarded to be the value of said land
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Appraisers
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and water power, by three appraisers or a majority of
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them, one to he appointed by the president and direct-
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ors of said company, one by the said William Hugh-
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lett, or bis legal representatives, and the third by these
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two, all of whom shall be the owners of part or in the
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whole of some improved water power, in the State of
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Maryland, and which appraisement shall also be bind-
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Conveyance re-
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ing upon said company; and provided, moreover, that
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quired
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unless the said William Hughlett shall, when thereto
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required by the president and directors, convey to the
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said company, after the price shall have been so ascer-
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tained, the land and water power, according to the
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specification or description thereof entered on the books
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Possession
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aforesaid, and also deliver possession of the same when
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demanded, the said company may upon such failure,
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Case of failure
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either enforce a specific performance of the contract on
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the part of the said William Hughlett, or at the
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election of any stockholder, said stockholder may
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May hold other
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regard his subscription as void; provided however, that
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shares
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nothing herein contained shall be so construed as to
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prevent the said William Hughlett from subscribing
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for or owning as many more shares in the stock of said
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company, over and above such as may be taken in pay-
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ment for the said land and water power, as he may
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think proper, on the same terms and conditions as
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Vacancy of ap-
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other subscribers and stockholders, nor in case any
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praisers
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Vacancy shall occur in said board of appraisers, to
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prevent the same being filled by the selection and ap-
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pointment of another appraiser, by or on behalf of the
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party or authority that made the appointment or place
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vacated.
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May enlarge capi-
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SEC. 5. And be it enacted, That the stockholders,
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tal
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or a majority of them, in interest, may from time to
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time enlarge the capital stock of the company by sel-
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ling or ordering their President and Directors to sell
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shares therein, at such times, and in such manner, to
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such amount, and at such price or prices, as they in
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