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LAWS OF MARYLAND.
Passed April
30, 1853.
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CHAPTER 192.
AN ACT to incorporate the Lonaconing Ocean Coal
Mining and Transportation Company.
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Incorporated.
Proviso.
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SECTION 1. Be it enacted
by the General Assembly
of Maryland, That William H. Aspinwall, Edward
Cunard, Auguste Belmont, Joseph B. Varnum, Jonathan
Meredith, Edward J. Woolsey and James L.
Graham, and such other persons as may become associated
with them, in the manner hereinafter provided,
shall be and they are hereby constituted a body politic
and corporate, by the name of the Lonaconing Ocean
Coal Mining and Transportation Company, and by
that name shall have succession and be able and capable
to sue and be sued, to plead and be impleaded in
any court whatever; and may have and use a common
seal, and may alter and renew the same at pleasure; and
the said body corporate shall have all the powers,
faculties franchises and rights, necessary and proper for
the carrying on the mining of coal, and the beneficial
management of its property, and for the transportation
of coal and other proceeds, issues and products of its
mines and property to market; and shall have power
and authority to purchase, lease and hold any property,
real, personal and mixed, which may be deemed by
said company necessary for its purposes; Provided,
however, that said company shall not at any time
actually hold as owners thereof more than twelve thousand
acres of land.
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Capital.
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SEC. 2. And be it enacted,
That the capital of the
said company shall be three millions of dollars, divided
into thirty thousand shares of the par value of one hundred
dollars each; and whenever ten thousand shares
shall have been actually subscribed, the said company
shall be authorised to organise and act as a body corporate.
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Books to be
opened.
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SEC. 3. And be it enacted,
That for the purpose of
obtaining subscriptions to the capital stock of said company,
books shall be opened under the direction of the
said William H. Aspinwall, Edward Cunard, Auguste
Belmont, Joseph B. Varnum, Jonathan Meredith, Edward
J. Woolsey and James L. Graham, or the majority
of them, at such time or times, and at such place or
places, as the persons who may act in that behalf shall
deem expedient; and in case said company shall
organise and proceed to act as a corporate body before
the full number of shares shall have been subscribed,
the president and directors of said company shall have
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