E. LOUIS LOWE, ESQUIRE, GOVERNOR.
203
CHAPTER 174.
AN ACT to incorporate the Springfield Mining Company
of Maryland.
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Passed May
7, 1853.
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SECTION 1. Be it enacted
by the General Assembly
of Maryland, That Emanuel T. J. Woodward, Hugh
Ely, William Slater, Joseph Brooks, Isaac Tyson,
Junior, Lloyd Norris and James W. Tyson, their associates,
successors and assigns, be, and they are hereby
created a corporation and body politic, by the name
and style of the Springfield Mining company, and by
that name may have perpetual succession, and shall be
able and capable in law to sue and be sued, plead and
be impleaded, answer and be answered in any court of
law or equity and to make and use a common seal and
to ordain and establish such by-laws and regulations as
shall be necessary or convenient for conducting the affairs
of the corporation not repugnant to law.
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Incorporated.
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SEC. 2. And be it enacted,
That the objects of said
corporation are said to be the mining of ores, making,
manufacturing of, and trading in copper and other
articles, for which purpose they are hereby authorised to
purchase, hold and sell land in fee simple or otherwise,
necessary to the conduct of the business, and to erect
thereon all needful and convenient buildings, that the
capital stock of said corporation shall not be less than
one hundred thousand dollars, nor more than five hundred
thousand dollars.
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Objects of
corporation.
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SEC. 3. And be it enacted,
That for the management
of the affairs of the company, the stockholders
shall elect a president and not less than five directors,
who shall remain in office for one year or until successors
shall be elected, a majority of whom shall constitute
a quorum or board; that a majority of stockholders
shall call a meeting upon advising all the stockholders
by advertisement or otherwise of the time and
place of holding said meeting.
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Management
of affairs.
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SEC. 4. And be it enacted,
That the stock of the
said company shall be esteemed personal estate, that all
the property, estate and joint stock of the corporation,
shall be bound and answerable for its debts and liabilities.
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Stock deemed
personal
estate.
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SEC. 5. And be it enacted,
That nothing contained
herein shall be construed as granting banking privileges
to said corporation or exempting their property
and effects from general taxation.
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Banking forbid.
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