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FRANK BROWN, ESQUIRE, GOVERNOR.
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509
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are Hereby authorized and directed to refund and pay to
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Reminding
money.
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William B. Thomas, treasurer of said Westminster Water
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Company, the first aforesaid sum of one hundred dollars
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($100.00.)
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SEC. 2. And be it enacted, That this act shall take effect
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Effective.
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from the date of its passage.
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Approved April 4 th, 1892.
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CHAPTER 362.
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AN ACT to incorporate the Union Credit Company of Bal-
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timore City.
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SECTION 1. Be it enacted by the General Assembly of
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Maryland. That Robert Magruder, J. Frank Pearson, John
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Incor-
porated.
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W. Linthicum. Thos. G. Granwell, Moses Pels, and Isaac
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L. Newman all residents of the State of Maryland, and
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their successors, be and hereby are constituted and made a
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body politic and corporate, under the name and style of the
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Union Credit Company of Baltimore, and by that name
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shall have perpetual succession and be capable in law to
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hold and dispose of property, real personal and mixed, in
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any way not inconsistent with law, to sue and be sued,
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plead and be impleaded, to have and to use a common seal,
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and change, renew and alter the same, at its pleasure,
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and generally to do every other act, or thing necessary or
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proper, to carry into effect the objects and purposes of said
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corporation.
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SEC. 2. And be it further enacted, That the capital stock
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of the said corporation shall be twenty -five thousand dol-
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Capital
stock.
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lars, to be divided into two hundred and fifty shares, of the
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face value of one hundred dollars each, to be paid in such
manner and at such time, as the stockholders by a resolu-
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tion may determine, and the privilege is hereby given to
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said corporation to increase said capital stock to fifty thou-
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sand dollars, to be divided into shares of one hundred dol-
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lars each, whenever such increase shall be determined upon
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by two-thirds vote of the then existing stockholders of said
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corporation.
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SEC. 3. And be it further enacted, That the affairs of
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said corporation shall be managed by six directors, who
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Directors
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shall be elected annually in the month of March by the
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stockholders, and that until the first of said elections, the
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persons named in the first section of this act shall be the
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directors of the said corporation, that the said directors
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shall annually elect from among their number a president
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