576
LAWS OF MARYLAND.
Repealed.
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SEC. 2. And be it enacted,
That such portions of
the first section of said act, passed at December session,
eighteen hundred and thirty-five, chapter three hundred
and five, inconsistent with the provisions of the first
section of this act, be and the same is hereby repealed.
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Passed May
30, 1853.
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CHAPTER 398.
AN ACT to incorporate the Monumental Place Real
Estate Company.
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Commissioners
appointed.
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SECTION 1. Be it enacted
by the General Assembly
of Maryland, That James H. Luckett, William B.
Clarke, Henry A. Thompson, Thomas H. Kent, of
Joseph, and Coleman Yellot, be, and they are hereby
appointed commissioners under the direction of a majority
of whom, books shall be opened in the city of
Baltimore, within three months from the passage of
this act, for subscriptions to the capital stock of Monumental
Place Real Estate company hereby incorporated.
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Capital stock.
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SEC. 2. And be it enacted,
That the capital stock of
said company shall be one hundred thousand dollars,
divided into shares of fifty dollars each, but said capital
stock may hereafter be increased by the president and
directors of said company, to an amount so as not to
exceed in the whole, two hundred and fifty thousand
dollars; and as soon as sixty thousand dollars of said
stock shall have been subscribed, and five dollars per
share paid to said commissioners at the time of subscribing,
the said company shall be organised by an
election of a president and directors, in the manner
hereinafter directed.
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Objects of
corporation.
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SEC. 3. And be it enacted,
That the objects of
said corporation shall be to purchase, hold and sell, in
fee simple or otherwise, real estate situated in Baltimore
county, within two miles of the point on the Baltimore
and Ohio rail road, known as the Relay House,
to an extent not to exceed in the whole five hundred
acres, and to lay out said lands into avenues or streets,
and to improve, divide, ornament, sell or lease the same
for the purpose of county seats or other kinds of buildings,
or in the discretion of said corporation to erect
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