PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 643

mixed, for the purposes hereinafter mentioned, and by said
corporate name may sue and be sued, and may make, have and
use a common seal, and shall have and enjoy and may exercise
all the powers, rights and privileges, acts, matters and things
incident and necessary to the purposes to said corporation as
created by this act.

SEC. 3. And be it enacted, That the capital stock of said
company shall be seventy-five thousand dollars ($75,000.00),
with privileges to increase the same to one hundred and fifty
thousand dollars ($150,000.00), when especially authorized by
a two-thirds vote of the stockholders at a meeting specially
called for the purpose of considering an increase of said capital
stock, and said capital stock and the increase thereof, shall be
divided into shares of fifty dollars ($50.00) each and the sub-
scriptions thereto shall be collected by the president and direct-
ors of said corporation in such instalments and at such times
and places as they may appoint and require, and if any sub-
scriber to said stock shall neglect or fail to pay any instalment
or parts of their subscription thus demanded for a space of fif-
teen days next after the time the same shall be due and paya-
ble, the stock on which it is demanded shall at the pleasure of
said president and directors be forfeited to the company and
sold for its benefit, but the said president and directors may
in their discretion remit such forfeitures, or recover in the
name of the company such instalments by suit or action at law
or in any other way, and upon such terms as they may deem
proper, and sbould the capital stock at any time be increased,
the stockholders at the time of such increase shall be entitled to
a pro rata share of such increase, upon paying the price therefor
determined upon, at such stockholders' meeting at which said
stock shall be sold; provided, that said capital stock shall or
may be issued in accordance with the provisions of Article 23
of the Code of Public General Laws of the State of Maryland,
relating to the issuing of the capital stock of any company incor-
porated under the General Laws of this State.

SEC. 4. And be it enacted, That the Board of Directors
herein named, upon the acceptance of the provisions of this act,
and before proceeding to organize hereunder, shall, by their
duly authorized attorney, file with the State Tax Commissioner
of the State of Maryland, a certified copy of this act and pay
to the Treasurer of the State the bonus tax as now required by
law on the amount of said capital stock; and the president and
board of directors of said company before proceeding to issue
the amount of said increased capital stock, as provided in sec-