E. LOUIS LOWE, ESQUIRE, GOVERNOR.
351
CHAPTER 257.
AN ACT to incorporate the Maryland and Delaware
Ship Canal Company.
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Passed May
20, 1853.
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SECTION 1. Be
it enacted by the General Assembly of
Maryland, That Horace B. Tebbetts, Otis P. Jewett, J.
Philip Roman, Hippolite Mall, George Vickers, Lemuel
Roberts and Charles S. Darrow, and their associates
and successors, and all other persons who may be stockholders
as hereinafter provided, are hereby constituted
and made a body corporate, by the name of the Maryland
and Delaware Ship Canal company, for the purpose
of cutting and making a ship canal, the object of
which shall be to connect the waters of the Chesapeake
and Delaware bays with all the works, locks and offices
which may be necessary; said canal shall start from
some convenient point on the Chesapeake bay, not
above Sassafras river, and run to the Delaware State
line, and by the aforesaid corporate name shall be, and
they are hereby capable in law of purchasing, holding,
selling, conveying estates real, personal, and mixed, so
far as shall be necessary and convenient for the purposes
hereinafter mentioned, and no further, and shall
have perpetual succession, and by said corporate name
may sue and be sued, and have and use a common
seal, and the same to alter and renew at pleasure; and
also to ordain, establish and put in execution such by-laws,
ordinances and regulations as shall seem necessary
for the government and management of said corporation,
and to alter and repeal the same at pleasure, and
shall have and exercise all the rights powers and privileges
which corporate bodies may lawfully possess
for the purposes mentioned in this act.
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Incorporated.
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SEC. 2. And be it enacted,
That the capital stock
of said corporate company shall be two million of dollars,
to be divided into shares of one hundred dollars
each, which said capital stock shall be deemed as personal
property, and shall be transferrable in such manner
as the by-laws of said corporation prescribe.
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Capital stock.
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SEC. 3. And be it enacted,
That the said Horace
B. Tebbetts, Otis P. Jewett, J. Philip Roman, Hippolite
Mall, George Vickers, Lemuel Roberts and Charles
S. Darrow, shall be, and they are hereby constituted
commissioners to receive subscriptions to the capital
stock of said company, and they, or a majority of them,
are hereby authorised to open books for the purpose of
receiving subscriptions to said capital stock, and shall
designate the times and places of which said subscriptions
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Commissioners
appointed.
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