THOMAS W. VEAZEY, ESQUIRE, GOVERNOR

1835

SEC. 18. And be it enacted, That the said corpora-

CHAP. 229.

tion, by its president and directors, is hereby permit-

May enlarge the

ted, when hereafter deemed expedient and useful, to

capital

enlarge its capital by fifty thousand additional shares,

to the extent of one million of dollars, and upon the

formation of each of any other fire companies that may

hereafter be formed in the city of Baltimore, it shall

Method prescribed

be the duty of this corporation to open books for sub-

scription, by or on behalf of such new company, or

the members thereof, for two thousand shares of stock,

in manner and subject to all the regulations and con-

ditions as to such subscription, and with all the privi-

leges as to electing a Director or Directors as are

hereinbefore provided, in respect to the existing fire

companies or the members thereof; and the subscrip-

tion of stock by said fire companies; and at the same

time there shall be offered for general subscription the-

like number of shares, that shall be offered for sub-

scription on part of the said new fire company or com-

panies, under the same regulations and conditions as

hereinbefore provided, concerning general subscrip-

tions of stock, and for each director which such new

fire company shall become entitled to have and elect

as aforesaid, the general stockholders shall, on their

part be entitled to have and elect one additional direc-

tor, and the additional stock that shall by virtue of

the provisions of this section be subscribed, shall be

rated and paid for it, such sum for each share as the

valuation of the then existing capital stock of the cor-

poration, shall show the worth of the shares of such

capital stock respectively to then be, such valuation to

lie made in manner as directed in respect of the ap-

praisement prescribed of the present stock; Provided

however, that such additional shares shall not be rated

at less than ten dollars for each share.

SEC. 19. And be it enacted, That the concerns of

Right of inspec-

this company shall at all times be subject to the inspec-

tion

tion of the Treasurer of the Western Shore, or of such

other officer or agent of the State as may be selected

for that purpose by either branch of the Legislature,

and that the Legislature shall at all times have full

power to lay any tax on the said company which it