| 84
Dec. Ses. 1825.
Price $6. |
JOSEPH KENT, ESQUIRE, GOVERNOR.
2. And be it enacted, That the said
clerks shall charge and
receive for such licenses, the sum of six dollars, and such licenses
to be granted in the same manner and upon the same
conditions as are now prescribed by law. |
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Passed Feb.
25, 1826. |
CHAPTER 111.
An
act to Incorporate the Ætna Company of Baltimore. |
| Incorporation. |
Sec. 1. Be it enacted by the General Assembly
of Maryland,
That a company be incorporated to erect a furnace for manufacturing
of iron in or adjacent to the city of Baltimore; and
that said company be, and is hereby created and declared to be
a body politic and corporate, by the name and style of the
Ætna company of Baltimore, and by that name and under that
style shall have succession during the continuance of the present
incorporation, and be authorised to sue and be sued, plead
and be impleaded, as well in law as in equity; also to fix upon,
make, have, and use a common seal, liable to be changed or altered
at pleasure, and to constitute and establish such bye-laws,
rules, and regulations from time to time as shall seem advisable
and necessary for the better management of the said company. |
Books opened
—capital 20,-
600 dollars. |
2. And be it enacted, That a subscription
book shall be opened
in the city of Baltimore for a capital stock of twenty thousand
dollars, in shares of fifty dollars each, under the direction
of Joseph Jamison, James L. Hawkins, Joshua Mott, C. C.
Jamison, John Frey, William P. Mills, William Conway, John
Yates, Joshua Wall, and Robert Armstrong, who are hereby
appointed commissioners for that purpose. |
| Payments. |
3. And be it enacted, That every subscriber
shall pay to the
commissioners at the time of subscribing, five dollars on each
share, and not exceeding ten per cent every sixty days thereafter,
on the amount subscribed, until the whole capital, or such
part thereof as the president and directors may deem sufficient
to accomplish the object intended, is paid in. |
| Elections. |
4. And be it enacted, That after the
stock shall have been
taken as aforesaid, the commissioners shall convene the stockholders
for the purpose of electing one of them as president, and
eight as directors, to be repeated annually thereafter, at such
time and place in the city of Baltimore, as the commissioners
in the first instance, and the president for the time being thereafter,
shall name and appoint. |
| Votes. |
5. And be it enacted, That as well
in choice of president and
directors, from time to time, as in all other cases, each stockholder
shall be entitled to one vote for each share he may
hold in the company, to be given in such manner as the president
and directors shall prescribe. |
Procure suitable
houses. |
6. And be it enacted, That the president
and directors shall
have power to rent, lease or purchase such ground and suitable |
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