|
CHAP. 338,
|
the capital stock of said company, as is necessary to
|
|
Re-open
|
its incorporation, shall not have been obtained, the said
|
|
|
commissioners may as aforesaid cause -the satd books
|
|
|
to he opened from time to time, thereafter, for the space
|
|
|
of twelve months, or until the sum necessary to the in-
|
|
Vacancy
|
corporation of the company shall be subscribed, and if
|
|
|
any of the said commissioners shall die, resign, or re-
|
|
|
fuse to act, during the continuance of the duties devol-
|
|
|
ved upon them by this act, another may be appointed
|
|
|
in his stead, of and for the county for which he was ap-
|
|
|
pointed, by the remaining commissioner for such coun-
|
|
|
ty, or if both in any county shall die, resign, or refuse
|
|
|
to act, the vacancies thereby occasioned, shall be filled
|
|
|
by appointment by the Governor and Council.
|
|
Incorporated
|
SEC. 3. And be it enacted. That the capital stock. of
|
|
|
the Eastern Shore rail road company, shall be two
|
|
|
millions of dollars, in shares of one hundred dollars
|
|
|
each, whereof ten thousand shares shall be reserved
|
|
|
for subscription by the State of Maryland, for the
|
|
|
space of twelve months after the passage of this act,
|
|
|
and the remaining ten thousand shares may be sub-
|
|
|
scribed for by any corporation or corporations, or by
|
|
|
individuals; and as soon as five thousand shares of the
|
|
|
capital stock, shall be subscribed, the subscribers of
|
|
|
the said stock, their successors and assigns shall be
|
|
|
and they are hereby declared to be incorporated hi to a
|
|
Name
|
company by the name and style of the Eastern Shore
|
|
Powers
|
Rail Road company, and by that name shall be capa-
|
|
|
ble in law of purchasing, holding, selling, leasing or
|
|
|
conveying, such property, real and personal, as shall
|
|
|
be necessary for their purpose as a rail road company,
|
|
|
and such as are expressly, authorised by this act, in
|
|
|
connection with their said rail road or roads, and no
|
|
|
further; and shall have perpetual succession, and have
|
|
|
a common seal, and may sue, or he sued, at law or in
|
|
|
equity, and shall generally have, use, and exercise all
|
|
|
the rights, privileges and powers, generally incident
|
|
|
to corporations.
|
|
Mode of reduction
|
SEC. 4. And be it enacted, That if more than ten
|
|
of subscription
|
|
|
|
thousand shares shall be subscribed to the capital stock
|
|
|
of said company, besides the stock hereinbefore re-
|
|
|
served to the State, or more, than with the amount so
|
