564

LAWS OF MARYLAND.

against in any court of law or equity, to receive

and make deeds and contracts, to make, have and

use a common seal.

SEC. 2. And be it enacted, That the object and

purpose of said company are to do a ranche or

stock business in. the Wyoming or other Territo-

ries; to cultivate land, raise cattle, horses and

sheep, and deal in the same, and to do whatever

Ranche or

else may be necessary or desirable for the success-

stock business.

ful conduct of a ranche or stock business in such

territories; it shall have the right to record marks,

brands and ear marks, for the purpose of distin-

guishing and marking their property, in all terri-

tories where individuals possess the same right,

and under the same rules and regulations as are

prescribed for individuals in said territories.

SEC. 8. And be it enacted, That the capital stock

of said company shall be one hundred thousand

dollars, divided into one thousand shares of one

hundred dollars each; but the said company may

Capital stock.

organize and commence business whenever not

less than one-fourth of its capital stock shall have

been validly subscribed for, either in cash or in

the transfer to said company of property of said

subscribers, in lieu of cash, upon terms and valu-

ations to be agreed upon by the directors when

authorized to do so by a vote of a majority

of the stockholders at the time; and the priv-

ilege is hereby given to the stockholders of said

company, by vote of the majority in the in-

terest of said stock, to increase the capital of the

Increase capi-
tal.

company by taking subscriptions to shares of not

less value than those of the original stock, from

time to time, as the same may be determined

upon; provided, however, that such increase shall

not in the aggregate exceed the sum of five hun-

dred thousand dollars.

SEC. 4. And be it enacted, That the persons named

in the first section of this act, or a majority of

them, be and are hereby appointed commissioners

Appointed
commissioners

to receive subscriptions to the capital stock of the

said company; and upon every subscription there

shall be paid at the time of subscribing to the

persons so opening the books of subscription, or

their agents, the sum of five dollars on every