264
LAWS OF MARYLAND.
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a less time than for the period provided for in said
section.
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In force.
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SEC. 3. And be it enacted,
That this act shall take
effect from its passage.
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Passed May
12, 1853.
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CHAPTER 207.
AN ACT to incorporate the Belmont Mining Company.
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Incorporated.
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SECTION 1. Be it enacted
by the General Assembly
of Maryland, That Samuel Smith, Martin Dow, William
Woodman, T. F. Jordan, and their associates and
assigns, be and they are hereby created and constituted
a body politic and corporate, by the name and style of
the Belmont Mining Company, and by that name shall
have succession, and shall be competent to sue and be
sued in any court of equity or law whatever, to have
and use a common seal, to alter and change the same
at pleasure, to establish and change any by-laws for the
organization of the said company, so that the same be
not contrary to the laws of the State, or of the United
States and inconsistent with the provisions of this charter,
to purchase, hold, rent, pledge, lease and dispose of
real and personal property, mines and minerals, necessary
for the purpose of said company, to manage such
real estate, to mine, smelt, work and manufacture and
vend said minerals and products thereof, and in general
to have, enjoy and exercise all other rights and privileges
incident to corporations, and as shall be necessary
and proper for the purpose of exploring for lead, copper,
iron, and other metals and minerals in Baltimore
county, in this State and elsewhere, and for mining,
vending, smelting and working the same.
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Capital stock.
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SEC. 2. And be it enacted,
That the capital stock
of said company shall be one hundred thousand dollars,
with the right to increase the same to one million of
dollars to be divided into shares of not less than five
dollars, and the company be allowed to dispose of such
number of shares of the stock of said company at the
representative par value thereof, as may be ordered by
a vote of said company, for the purpose of purchasing
real estate, mines, leads, minerals, and personal property,
or to meet the contingent expenses of said
company.
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