ART. 41. ] RAILROAD COMPANIES.

stock necessary to construct such road; such certificate shall be ac-
knowledged before a justice of the peace and certified by the clerk
of the Circuit Court of any county through which the road passes,
and when said certificate is executed, it shall be the duty of the per-

353

sons executing the same to submit it to one of the judges of the
judicial circuit within which the county where it was acknowledged
may lie, or to one of the judges of the Supreme Bench of Balti-
more City, if acknowledged in said city, in order that the said
judge may determine whether said certificate is in conformity with

To be submitted
to judge.

the law, and if the said judge shall so determine he shall certify
his said determination upon the said certificate, which shall be for-

Judge to certify.

warded to the secretary of state, who shall record and carefully pre-
serve the same in his office, and a copy thereof, duly certified by
the secretary of state, under the great seal of the State of Mary-
land, shall be evidence of the existence of such company.

Certificate
to be recorded.

3. When the foregoing provisions have been complied with, the
persons named as corporators in said certificate are hereby author-
ized to carry into effect the objects named in said certificate in ac-
cordance with the provisions of this act; and they and their asso-
ciates, successors and assigns, by the name and style provided in
said certificate, shall thereafter be deemed a body corporate with

Id s 4
Incorporated.

succession, with the power to sue and be sued, plead and be im-
pleaded, defend and be defended, contract and be contracted with,
acquire and convey at pleasure, all such real and personal estate,
as may be necessary and convenient to carry into effect the objects
of the incorporation, to make and use a common seal and the same
to alter at pleasure, and do all needful acts to carry into effect the
objects for which it was created; and such company shall possess
all the powers and be subject to all rules and restrictions provided
by this act.

Powers and
restrictions

4. Said corporations shall be authorized to construct and main-
tain a railroad with a single or double track, with such side-tracks,
turn-outs, offices, and depots, as they may deem necessary between
the points named in the certificate, commencing at or within and
extending to or into any town, city, or village named as the place of
the termini of such road, and construct branches from the main
line to other towns or place within the limits of any county through
which said road may pass

Id s 6
Where road to.
be constructed.

5. The capital stock of such company shall be divided into shares
of fifty dollars each, and consist of such sum as may be named in

Id s 6
Value of shares

the certificates; such shares shall be regarded as personal property,
shall be subject to execution at law, and to taxation as other per-
sonal property.

Shares, per-
sonal property

6. An instalment of five dollars, in actual cash, on each share of
stock, shall be payable at the time of making the subscription, and
the residue thereof shall be paid in such instalments, and at such
times and places, and to such persons, as may be required by the
directors of such company.

23

Id s 7
Payment of
shares
41 Md 593