E. LOUIS LOWE, ESQUIRE, GOVERNOR.
459
were subscribed before the commissioners in the manner
directed and prescribed by the second section of this
act.
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SEC. 4. And be it enacted,
That when one-half or
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 two newspapers published in Cecil
county aforesaid, of the time and place appointed by
them for the subscribers to meet, in order to organise
said company, and to choose, by ballot, to be delivered
in person or by proxy duly authorised, nine managers
from among the stockholders, to conduct the business
of said company until the first Monday of June, 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 to one
vote for every share held by said stockholder, not exceeding
two hundred.
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Notice of the
time of meeting
of stockholders.
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SEC. 5. 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 Elkton, Andora and Lewisville Plank 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 subscription to an additional amount not
exceeding thirty thousand dollars, on the original terms,
if necessary to fulfil the original 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 to alter
and break the same, and to renew it at their will and
pleasure, and to do all other acts necessary for the purposes
for which they are incorporated, as fully as any
other corporation may do.
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Incorporated.
Proviso.
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SEC. 6. And be it enacted,
That the same so subscribed
shall be paid to the managers of said company
in such instalments, and at such times and places as
they may direct, by giving one month's notice of the
payments required, in one or more of the newspapers
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Instalments.
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58
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