1835.

LAWS OF MARYLAND.

individuals subscribing to the building of this Acade-

CHAP. 322. Subscriibers shall

my shall receive certificates of stock at the price here-

be members

inafter mentioned, and shall be entitled to vote the

Entitled to vote

ratio as hereinafter prescribed. Third, that every pa-

rent, guardian or master, who may send a scholar or

scholars to said Academy, shall be entitled to vote at

the annual election for trustees to said Academy.

First trustees

SEC. 2. And be it enacted, That Nicholas Lowe,

David Ridcnour, John D. Ridenour, Peter K. Zacha-

rias, Isaac Nesbitt, James I. Beatty and James R.

Ward, be, and they are hereby appointed the first

trustees of the said Academy, and the said trustees

and their successors, forever, to be elected in the man-

Incorporated

ner hereinafter mentioned shall be and they are hereby

declared to be one community, corporation and body

politic with perpetual succession in deed and in law,

to all intents and purposes, connected with the said in-

Style

stitution, by the name and style of the Clearspring

Privileges granted

Academy; by which name and title, they and their

successors shall be competent and capable in law, and

in equity, to take and hold to themselves and their

successors for the use of the said Academy, any estate

in messuages, lands and tenements, annuities, goods,

chattels, monies, or effects, by the gift, grant or bar-

gain, sale, conveyance, devise or bequest of any per-

Estate limited

son or persons whatsoever; Provided, the same do not

exceed in the whole, the clear yearly value of two

thousand dollars; and the same messuages, lands and

tenements, and other estate, real or personal, to farm,

Uses

let, and put out on interest for the use of the said

Academy, in such manner as to them or a majority of

them shall seem most beneficial to the institution; and

to receive the rents, issues, profits, income and inter-

est of the same, and to apply the emoluments thereof

to the proper use and advancement of the said Acade-

my.

Annual election of

SEC. 3. And be it enacted, That a board of trustees,

trustees

composed of seven person shall be elected on the first

Monday of May, eighteen hundred and thirty -six and

on the first Monday of May, in each and every year

thereafter forever, by all those who may be legally

entitled to vote at such election of trustees, not more