WM. T. HAMILTON, ESQUIRE, GOVERNOR.

673

SEC. 2. And be it enacted, That the capital stock

of said company shall be one hundred thousand

dollars in shares of twenty-five dollars each, and all

individuals and bodies corporate and politic shall

Capital stock.

be and they are hereby authorized and empow-

ered to subscribe for such amount of said capital

stock as they may think proper.

SEC. 3. And be it enacted, That whenever one

hundred shares of the capital stock of said com-

pany shall be subscribed, then the said subscribers

shall be and they are hereby incorporated and

made a body politic and corporate by the name

How incor-

and style of the " Choptank and Blackwater

pointed.

Canal and Land Improvement Company," and by

that name shall sue and be sued, and have per-

petual succession, and be capable of holding, pur-

chasing, securing and enjoying such lands, water

privileges, boats, houses, horses and mules and all

other species of personal property necessary for

the accomplishing the objects of this act, and the

same to grant, sell or dispose of at pleasure; and

shall and may have a common seal and the same

to alter and renew at pleasure; and shall and may

pass such by-laws, rules and regulations as may be

Pass by-lawn.

deemed necessary for the government of said

corporation, and for the conduct and management

of the affairs, provided the same shall not be in-

consistent with the constitution and laws of this

State or of the United States.

SEC. 4. And be it enacted, That as soon as one

hundred shares of said company shall have been

subscribed, the said commissioners named in this

act, or any five of them, shall call a meeting of

the said subscribers, who shall thereupon elect a

president and four directors to manage the affairs

Call meeting.

of said company for one year and until a new

election shall be held in accordance with the by-

laws of said company; and at every such election

thereafter each stockholder shall be entitled to

one vote for every share of stock held by him,

her or it.

SEC. 5. And be it enacted, That the said corpora-

tion is hereby authorized and empowered to cut,

Powers of

dig and make a canal of any width and depth it

corporation.

may deem necessary or proper, from, some point

43