298
LAWS OF MARYLAND.
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more newspapers published in Washington county, to
open a book or books, at such time and place or places
as they shall appoint and specify in the notice given,
and receive from any free persons of full age, subscriptions
of one or more shares of one hundred dollars
each, of the capital stock aforesaid, to an amount not
exceeding thirty thousand dollars; such subscriptions to
be made in person or by proxy, proved in such manner
as the commissioners shall require, and the sum of one
dollar upon each share shall be paid to the commissioners
at the time of subscription; the said commissioners
may continue the subscription books open as many
days as they shall deem proper, or close them at any
time after one hundred and fifty shares or more shall be
subscribed, and may apportion the shares in case of excess
of subscription, and within ten days after one hundred
and fifty shares shall be so subscribed, the commissioners,
or any two or more of them, shall appoint
a day, of which they shall give ten days notice as
aforesaid, for the said stockholders to meet and elect five
of the stockholders directors of the company, to hold
their office until the next annual election, and until
their successors are appointed, any two of the commissioners
shall be judges of such election; immediately
after the election, the commissioners shall deliver and
pay over to the directors the subscription book or books,
certified by two or more of the commissioners, and the
money received from the subscribers to the stock, deducting
all expenses by them incurred in performing
their duties as commissioners, either previous to or after
the passage of this act.
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Incorporated.
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SEC. 2. And be it enacted,
That when one hundred
and fifty shares of the capital stock shall be subscribed
as aforesaid, the subscribers, as holders of said stock,
their successors or assigns, shall be, and they are hereby
incorporated by the name of the Washington Hotel
company, and by that name shall be 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 the same to change and
alter at pleasure; and 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, and by the same name they shall have perpetual
succession.
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Object of corporation.
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SEC. 3. And
be it enacted, That the object of
said corporation is hereby declared to be the building
and carrying on of a Hotel in Hagerstown, for which
purpose they are hereby authorised to buy and hold
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