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Session Laws, 1866 Session
Volume 419, Page 191   View pdf image (33K)
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THOMAS SWANN, ESQUIRE, GOVERNOR.

191

privileges which other corporate bodies may law-
fully do for the purposes herein mentioned.

Sec. 3. And be it enacted, That the Mayor and
City Council of Baltimore, the Northern Central
Railway Company, the Western Maryland Railroad
Company, and the Canton Company, and any oth-
er corporations chartered by this State, may and they
are hereby fully authorised and empowered sever-
ally and respectively, each on its own account, to
subscribe, as corporations, to the capital stock of
said company, which subscriptions shall be made
for the said Mayor and City Council by ordinance,
and by the other corporations in the manner in
which other corporate acts ar» by them respectively
performed, and the first subscriptions of the said
corporations, shall not be deemed to exhaust the
power, but each of the said corporations may make
other and further subscriptions, if they may con-
sider, the same expedient and proper, and said
Mayor and City Council may from time to time
borrow money or issue certificates of indebtedness
to meet any instalments of such subscriptions, and
each of said other corporations is authorised to is-
sue its bonds to the amount necessary to meet such
subscriptions, and to secure such bonds by mort-
gage or otherwise.

Authorized
to subscribe.

Sec. 4. And be it enacted, That the said corpo-
rations thus becoming Stockholders in the said
Union Railroad Company, shall severally be enti-
tled to a representation in the Board of Directors
of said company, commensurate with the amount
of their respective subscriptions to the capital stock
of said company, which Directors shall be appoint-
ed by a convention of the two branches of the City
Council, upon the nomination of the Mayor, and
by the other corporations as other corporate acts
are by those bodies respectively performed, and the
said corporations shall be respectively entitled to
be represented at all general meetings of the Stock-
holders of the said Union Railroad Company, and
shall be entitled to vote the whole number of shares
held by them respectively upon all questions aris-
ing at such meetings, except in the election of
Directors, the choice of which shall be left exclu-
sively to the individual Stockholders.

Corporations
entitled to re-
presentation.

Sec. 5. And be it enacted, That upon every such
subscription there shall be paid at the time of sub-

Instalments.



 
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Session Laws, 1866 Session
Volume 419, Page 191   View pdf image (33K)
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