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LAWS OF MARYLAND.
trust for the use and benefit or in the name of another, whereby
the said president and directors, or the stockholders of the
said company, or any of them, shall or may be challenged or
made to answer concerning any such trust, but that every person
appearing as aforesaid to be a stockholder, shall as to the
others of the said company, be to every intent taken absolutely
as such; but as between any trustee, and the person for whose
benefit any trust shall be created; the common remedy may
be pursued. |
167
Dec. Ses. 1825. |
16. And be it enacted, That if the
capital aforesaid shall
prove insufficient, it shall and may be lawful for the said company
from time to time to increase the said capital, by the addition
of so many whole shares as shall be judged necessary
by the said stockholders, or a majority of them present at
any general meeting of the said company; and the said president
and directors, or a majority of them, are hereby empowered
and required, after giving at least two months previous
notice thereof, in such newspapers printed in this state, as they
shall think proper, to open books at such cities, towns and other
places, as they shall think proper, for receiving such additional
subscriptions, in which the stockholders of the said company
for the time being, shall, and are hereby declared to have the
preference of all others, for the first thirty days after the said
books shall be opened as aforesaid, of taking and subscribing
for so many whole shares as any of them shall choose; and
the said president and directors are hereby required to observe
in all other respects the same rules therein as are by this
act prescribed for receiving and adjusting the first subscriptions,
and in like manner to return under the hands of any three or
more of them, an exact list of such additional subscriptions,
with the same subscribed, to the governor and council and to
the board of public works, to be by them preserved as aforesaid,
and all stockholders of such additional shares, shall, and
are hereby declared to be, from thenceforward incorporated into
the said company. |
Increase of
capital authorised
—regulations. |
17. And be it enacted, That whenever
it shall become necessary
to subject the lands of any individuals to the purposes
provided for in this act, and their consent cannot be obtained,
it shall and may be lawful for the company to enter upon such
lands, and proceed to the execution of such works as may be
requisite; and that the pendency of any proceedings in any
suit in the nature of a writ of ad quorum damnum, or any other
proceedings, shall not hinder or delay the progress of the
work, and it shall be the duty of every court to give precedence
to controversies which may arise between the company created
by this act, and the proprietors of land ought to be
condemned for public uses, and to determine them in preference
to all other causes. |
May proceed
without waiting
for consent
of owners. |
18. And be it enacted, That the right
to take a canal or canals
from any part of the above named canal, in any direction,
is hereby reserved to the state of Maryland, and to any company |
Right reserved. |
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