THOMAS W. VEAZEY, ESQUIRE, GOVERNOR
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1835
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SEC. 18. And be it enacted, That the said corpora-
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CHAP. 229.
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tion, by its president and directors, is hereby permit-
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May enlarge the
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ted, when hereafter deemed expedient and useful, to
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capital
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enlarge its capital by fifty thousand additional shares,
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to the extent of one million of dollars, and upon the
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formation of each of any other fire companies that may
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hereafter be formed in the city of Baltimore, it shall
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Method prescribed
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be the duty of this corporation to open books for sub-
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scription, by or on behalf of such new company, or
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the members thereof, for two thousand shares of stock,
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in manner and subject to all the regulations and con-
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ditions as to such subscription, and with all the privi-
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leges as to electing a Director or Directors as are
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hereinbefore provided, in respect to the existing fire
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companies or the members thereof; and the subscrip-
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tion of stock by said fire companies; and at the same
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time there shall be offered for general subscription the-
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like number of shares, that shall be offered for sub-
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scription on part of the said new fire company or com-
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panies, under the same regulations and conditions as
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hereinbefore provided, concerning general subscrip-
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tions of stock, and for each director which such new
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fire company shall become entitled to have and elect
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as aforesaid, the general stockholders shall, on their
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part be entitled to have and elect one additional direc-
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tor, and the additional stock that shall by virtue of
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the provisions of this section be subscribed, shall be
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rated and paid for it, such sum for each share as the
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valuation of the then existing capital stock of the cor-
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poration, shall show the worth of the shares of such
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capital stock respectively to then be, such valuation to
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lie made in manner as directed in respect of the ap-
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praisement prescribed of the present stock; Provided
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however, that such additional shares shall not be rated
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at less than ten dollars for each share.
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SEC. 19. And be it enacted, That the concerns of
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Right of inspec-
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this company shall at all times be subject to the inspec-
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tion
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tion of the Treasurer of the Western Shore, or of such
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other officer or agent of the State as may be selected
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for that purpose by either branch of the Legislature,
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and that the Legislature shall at all times have full
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power to lay any tax on the said company which it
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