E. LOUIS LOWE, ESQUIRE, GOVERNOR.
427
permit all persons and corporations, who shall offer
to
subscribe, in person or by attorney for stock, in said
books, which shall be kept open for that purpose at
least four hours in each day for three successive days,
if necessary, and if the whole of the said capital stock
be not then subscribed for, the said commissioners may
re-open said books at such time and place as they may
think fit, under the direction of the said commissioners
or any three of them, for further subscriptions, from
time to time, until the whole of said stock be subscribed
for.
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SEC. 3. And be it enacted,
That when one-half for
more of the shares of said stock shall have been subscribed,
the said commissioners or a majority of them
who opened the said subscription books shall give thirty
days notice, in the papers published in Frederick city,
of the time and place by them appointed for the subscribers
to meet, in order to organise said company, and
to choose, by a majority of votes of the said subscribers,
by ballot to be delivered in person or by proxy duly
authorised, managers from among the stockholders, to
conduct the business of said company until the first
Monday of May, eighteen hundred and fifty-four, and
until their successors shall be chosen in the manner
hereinafter provided; at all elections each stockholder
shall be entitled one vote for every share held by
said stockholder, not exceeding fifty.
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Meeting of
subscribers.
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SEC. 4. And be it enacted,
That the subscribers for
stock of said company, shall be, and they are hereby
incorporated and constituted a body politic, by the name
of the Frederick and Monocacy Turnpike Road Company,
and by the same name the said stockholders and
their successors and assigns, shall have all the privileges
and franchises of or incident to a corporation, and shall
be capable of taking and holding the said capital stock,
and the increase and profits thereof, and of enlarging
the same by new subscriptions on the original terms, if
necessary to fulfil the intent of this act, and of purchasing
and holding, to them and their successors, in fee
simple, or for any less estate, such lands and estate,
real or personal, as shall be necessary to them in the
prosecution of their works; Provided, said lands or real
estate shall not exceed two acres in any one lot or
parcel, for the use of the gate keeper; and of suing
and being sued, answering and being answered, in any
court of law or equity in this State; and the said company
shall have power to make a seal, and alter and
break the same, and renew it at their will and pleasure,
and to do all other acts necessary for the purposes for
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Incorporated.
Proviso.
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