806

LAWS OF MARYLAND.

name of "The Berlin and Lovettsville bridge company," and by

such name may sue and be sued, plead and be impleaded, and have

a common seal which it may alter at will; may purchase and own

real estate and personal property for said bridge purposes; may

make contracts written or oral, whether by deed, mortgage or

otherwise, and shall do everything necessary to effect the purpose

of its incorporation, all which acts said company may do when or-

ganized as below prescribed.

SEC. 2. Ami be it enacted, That the capital stock of said com-

Capital

pany shall not be more than sixty thousand dollars, to be divided

stock.

into shares of one hundred dollars each, which stock shall be is-

sued to the subscribers therefor by said company on the payment

of the entire subscription therefor.

SEC. 3. And be it enacted, That if any one who has subscribed

for stock shall fail to pay his or her subscription when payment

shall be demanded for the same, then said incorporators, or if said

company has been duly organized, then the directors of said com-

To collect

pany, in the name of said company, may sue for the amount of

said subscription in any court or tribunal having jurisdiction and

may recover a judgment and have execution thereon; and if the

amount of said judgment cannot be made by the officers having

said execution, said company, on a return of nulla bona by said

officer, may forfeit said subscription and declare the same cancelled,

and such subscription may be made payable in instalments.

Vote.

SEC. 4. And be it enacted, That each share of fully paid up

stock shall entitle the holder thereof to one vote at all elections

and meetings of said company for each share.

SEC. 5. And be it enacted, That the principal office of said

Office.

company shall be in Frederick city, Frederick county, Maryland,

where the meeting for organization and all other meetings of

said company and its directors shall be held, at such times as.

shall be fixed upon, for the transaction of the business of the

company, and correct minutes of all their proceedings shall be

fairly entered in a book, which shall be open to the inspection of

any stockholder.

SEC. 6. And be it enacted, That said corporation may open

books of subscription in such manner, time and place as they

may see proper, for the purpose of allowing the public to take

To organ-
ize.

stock in said company, and that when twenty-five per cent, of the
capital stock of said company has been subscribed and paid up,

then said incorporators on giving ten days' notice of the time and

place to said stockholders by advertisement in some newspaper

published in Frederick city, shall proceed to further organize

said company, by having said stockholders elect by ballot seven

directors, who shall continue in office one year, or until a new

election of directors thereafter shall be made, and the said

directors shall have full power and authority to then elect