E. LOUIS LOWE, ESQUIRE, GOVERNOR.
585
CHAPTER 407.
AN ACT to incorporate the Pickell Mining Company.
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Passed May
30, 1853.
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SECTION 1. Be
it enacted by the General Assembly
of Maryland, That John Pickell, William Thompson
and Thomas Thompson, and such other persons
as may be associated with them shall be, and they are
hereby incorporated by the name of the Pickell Mining
Company, and as such, shall have succession, and
may have and use a common seal, and be able and
capable to sue and be sued, plead and be impleaded,
in any court of law or equity, and may also have, use
and exercise all the powers and privileges proper and
necessary for carrying on the mining, manufacturing
and selling of iron or coal, and of transporting the same
to market, and shall have power to purchase and hold
all such property, real, personal or mixed, as they may
require for the purposes aforesaid; Provided, that the
said company shall at no time hold or possess in this
State, more than five thousand acres of land, and may
for the purposes aforesaid, have and exercise the right
to make by-laws, rules and regulations, and all the
rights and powers necessary to the objects of this act,
and to the use, control and disposition of the property
acquired by them not repugnant to the provisions of
this act or the constitution and laws of this State or of
the United States.
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Incorporated.
Proviso.
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SEC. 2. And be it enacted,
That the capital stock
of said company shall be divided into twenty thousand
shares of twenty-five dollars each, of which the lands
and mines of the said John Pickell, William Thompson
and Thomas Thompson, shall constitute a part at
such price as may be agreed upon, between them upon
the one part and those who may associate with them,
and constitute the aforesaid corporation, by subscribing
for stock payable in money on the other part.
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Capital stock.
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SEC. 3. And be it enacted,
That the subscriptions
to the capital stock shall be made at such place or
places, and in such manner as shall be designated by
the said John Pickell, William Thompson and Thomas
Thompson, or a majority of them, and that any person
owning one or more shares of said stock, shall be a
member of said corporation and shall be entitled at all
meetings of the stockholders to one vote for each share
so held in person or by proxy, and the shares of said
capital stock, shall be assignable or transferable as may
be provided for in the by-laws of said company, and
shall be considered as personal property, and the president
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Subscriptions.
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