1335,

LAWS OF MARYLAND.

CHAPTER 26.

CHAP. 26

Passed Jan. 28, 1836

An act to incorporate the Patuxent Company.

Persons incorpora-ted—powers

SECTIOIN I. Se it enacted by the General Assembly of

granted

Maryland, That Horace Capron, Theodore Jenkins,

A. E. Hall, E. Snowden, O. C. Tiffany, W. C. Shaw,

their associates, successors and assigns, are hereby

made, constituted and declared to be a body corporate

and politic, by the name and style of the Patuxent Com-

pany, and as such by that name, may have perpetual

succession, and may sue and be sued, implead and be

impleaded, answer and be answered, in any court of

law or equity; and shall be able and capable to make

and use a common seal, and the same to change and

alter at pleasure; also to have and use, exercise and

enjoy, as a corporate body, all the powers, rights and

privileges proper and necessary for the purpose of

Purpose

manufacturing cotton, iron and other articles, and of

vending the same; and for the aforesaid purposes, to

purchase, hold and use estate, real, personal and mixed,

and to construct such buildings and improvements on

their land as may be deemed necessary, and the said

estate, or any part thereof, to sell and convey, or other-

wise dispose of, and generally to do all such acts, and

to ordain, establish and enforce all such by-laws and

regulations as shall he necessary and proper for con-

ducting the business of said corporation, the same not

being contrary to law or the provisions of this act.

Shaves— capital stock

SEC. 2. And be it enacted, That the capital stock of

—membership

said company shall be divided into shares of one hun-

dred dollars each, and shall at no time exceed two hun-

dred thousand dollars; and every person who shall be

the proprietor of one share or more of said stock, shall

in virtue thereof, be a member of said corporation, and

as such entitled at all elections, and in all meetings of

the stockholders, to one vote, in person or by proxy,

for each and every share of said capital stock which

shall he held by such person; and the said capital stock

Investments

may in whole or part, consist of and be vested in land,

buildings, machinery, tools and materials, necessary

or useful for promoting the objects or carrying on the