E. LOUIS LOWE, ESQUIRE, GOVERNOR.
147
writing, covenants, grants, contracts, agreements
and
bargains whatsoever necessary for the said purposes,
and may have and use a common seal, which they
shall have power to renew or alter at pleasure, and
generally may do every other act or thing necessary
to carry into effect the provisions of this act, and promote
the objects and designs of said company as authorised
by this act; Provided, that nothing herein
contained shall authorise said company to hold more
than twelve thousand five hundred acres of land, at any
any one time; And provided, further, that the said
land shall be located within Anne Arundel county, except
one or more lots or parcels of land not exceeding
in the whole one quarter of an acre, which may be
held in the city of Baltimore.
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Provisoes.
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SEC. 2. And be it enacted,
That the said John D.
Godman, Francis Hoover, Edward Moon, Hiram Kaufman,
Henry Knell, William L. Rusk, Samuel J.
Pentz, Thomas J. Rusk, George Levering, James P.
Thomas, Marcus Wolf, William Carmichael, Jesse H.
D. Kaufman, may receive subscriptions from time to
time to the capital stock of said company, in shares of
one hundred dollars each to any amount not exceeding
twenty-five thousand shares; and for the purpose of obtaining
any such subscription, they shall give at least
ten days public notice by advertisement in one or more
newspapers printed in the city of Annapolis and in the
city of Baltimore, of the time place, number of shares,
and terms of subscription; and every person or corporation,
who shall become a holder, or entitled to one or
more shares of the said stock, shall thereupon become
a member of the Patapsco company hereby incorporated;
and every person or corporation on being divested
of all shares of said stock, by transfer or otherwise,
shall thereupon cease to be a member of said company,
and until the number of stockholders shall amount
to twenty-five, and election of directors shall have
been made as hereinafter provided, the said John D.
Godman, Francis Hoover, Edward Moon, Hiram
Kaufman, Henry Knell, William L. Rusk, Samuel J.
Pentz, Thomas J. Rusk, George Levering, James P.
Thomas, Marcus Wolf, William Carmichael, Jesse H.
D. Kaufman, shall exercise all the corporate powers of
the Patapsco company aforesaid, except in the contracting
for, or purchasing any real estate in the same manner
as the said directors when elected, are authorised to
do by this charter.
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Subscriptions
to capital
stock.
Notice to be
given.
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SEC. 3. And be it enacted,
That the members of the
said company after they shall amount in number
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Election of
directors.
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19
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