598
LAWS OF MARYLAND.
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commissioners under an act of December session, eighteen
hundred and sixteen, chapter two hundred and
nine; Provided also, that the said company and its
agents shall in all cases whatsoever, be subject to and
observe the ordinances of the city of Baltimore within
the limits of said city; And provided also, that before
the construction of any railway or rail roads upon any
of the land or wharves of said corporation within the
limits of the city of Baltimore as hereinbefore provided
for, the assent of the mayor and city council shall be
first had and obtained thereto.
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Rights and
privileges.
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SEC. 5. And be it enacted,
That the president and
directors of the said company, or a majority of them,
when met and acting as a board, shall have full power
and authority to attend to, transact or execute the affairs
and business of said company, to contract, agree
for, purchase, rent or hire all such lands, buildings, chattles,
materials, rights, privileges and effects whatsoever,
as they shall deem necessary or find convenient for effecting
the objects of the company, as authorised by this
act; call for monthly or other instalments from time to
time of the capital stock subscribed after giving public notice
thereof, of not less than thirty days; to apply the funds
so received and all other funds belonging to the company
to effect the objects aforesaid; to provide for declaring
and paying to the stockholders dividends of the profits
arising from the operations of said company; to prescribe
and provide for the manner and evidence of transfers
of the capital stock, to enforce payment thereof; as also
to prescribe the conditions of forfeiture in cases of non
payment, and to dispose of all or any such forfeited
stock as they in their discretion shall deem proper and
expedient, and generally to do, execute or authorise to
be done and executed all such acts, deeds, conveyances
or other writings and make, revise, alter or annul
all such by-laws, ordinances, resolutions, rules and
regulations not inconsistent with the laws of this State
or of the United States, or with the corporate rights of
the city of Baltimore, as the said president and directors
or a majority of them may deem necessary, useful
or convenient, and which shall be competent to the full
and beneficial exercise of and carrying into effect the
powers above enumerated, and all other powers, rights
and privileges granted to and vested in the Baltimore
dock company incorporated by this act.
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Stock deemed
personal property.
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SEC. 6. And be it enacted,
That the stock of said
company shall be deemed and considered personal property
or estate, and all the joint stock property, funds
and effects of said company shall be liable to and answerable
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