E. LOUIS LOWE, ESQUIRE, GOVERNOR.
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shall be, and they are hereby created and declared
to
be a body corporate and politic, by the name and style
of Westernport and Potomac rail road company, and
by that name shall and may have perpetual succession
and be capable in law of purchasing, holding, improving
and disposing of property, real, personal and mixed, for
the purposes hereinafter authorised, and may sue and
be sued, plead and be impleaded, answer and defend,
in all courts of law and equity and may make, execute
and deliver or have cause to be made, executed and
delivered to them all deeds, transfers, gifts, grants,
conveyances, covenants, contracts, agreements and
bargains whatsoever necessary for the purposes and
objects of said company, and may have and use a common
seal, which they shall have power to alter or renew
at pleasure, and generally to do every other act or
thing necessary to carry into effect the provisions, objects
and purposes of this act and not inconsistent with
the laws of this State or the United States.
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SEC. 2. And be it enacted,
That the purposes and
objects for which the Westernport and Potomac rail road
company, aforesaid is incorporated, are the locating,
making, constructing and repairing a rail road from
some point at or below the mouth of Savage river in
Allegany county, and running westwardly through the
coal fields of said county, the putting cars, machinery
and motive power on the same for the purpose of conveying
coal and other freight and passengers, charging
tolls thereon as hereinafter mentioned.
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Objects of
corporation.
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SEC. 3. And be it enacted,
That the said John
Everett, J. M. Price, Alanson Everett, John J. Morrison,
F. B. Tower, Jonathan Harmison and Horace
Resley, or such one or more of them, as the others or a
majority of them shall for that purpose authorise and appoint,
,make take and receive subscriptions to the capital
stock of said company, in such manner and on such terms
as a majority of them shall choose or designate in shares,
of one hundred dollars each, to such amount as they
may deem necessary, not exceeding ten thousand shares
and any person or persons who shall become holders or
entitled to one or more shares of said stock, shall thereupon
become a member of the Westernport and Potomac
rail road company hereby incorporated, and as
such shall be entitled to one vote in person or by proxy,
at all meetings of the stockholders for each share of
stock so held by him, her or them, on which all instalments
due shall have been paid, and until ten thousand
shares of said stock shall have been subscribed,
and five thousand dollars in cash shall have been paid
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May receive
subscriptions.
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