THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

the bed of any road or roads which it may be found

CHAP. 324,

necessary to construct, and may for the purposes

aforesaid have and exercise, except as restricted by

this act, the right to make by-laws, rules and re-

gulations, and all the rights, privileges and pow-

ers necessary to the objects of this act, and to the use,

control and- disposition of the property acquired by

them, and not repugnant to any law of this State or of

the United States,

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

Capital stock

said company shall consist of five thousand shares of

one hundred dollars each, of which the lands and

mines of the said Samuel B. Barrell, Roger C. Weight-

man and Edmund Munroe, shall constitute a part at

such price as may be agreed upon between them on the

one part, and those who may associate with them and

constitute the aforesaid corporation, by subscriptions

for stock payable in money; and the president and di-

Power of augmen-

rectors of the said company shall have power, from

tation

time to time, to increase their capital stock to such an

amount as may be found convenient and necessary for

the objects of this act; Provided, the amount of capital

Proviso

stock shall at no time exceed ten thousand shares or

one million of dollars.

SEC. 3. And be it enacted, That the subscriptions to

Persons to receive

the capital stock of said company shall be received un-

subscription

der the direction of the said Samuel B. Barrell, Roger

C. Weightman and Edmund Munroe, or a majority of

them, at such times and places as they shall designate,

giving at least ten days' previous notice in one or more

Notice

newspapers printed in the town of Cumberland, and

in the cities of Baltimore and Washington, and else-

where if they deem it necessary, and each subscriber

shall pay at the time of subscription, to the commis-

First payments

siones receiving the same, the sum of twenty dollars

on each share by him, her or them subscribed; and

every person who shall so subscribe for, or become the,

Membership

owner of one or more shares of said stock, shall in

virtue of such ownership be a member of the said cor-

Number of votes

poration, and shall be entitled at all meetings of the

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

each share of the capital stock which shall be held by