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Incorporated.
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SECTION 1. Be it enacted by the General Assembly
of Maryland, That George P. Whittaker, Jethro
J. McCullough, Delaplane McDaniel, E. Mortimer
Bye, James L. Delaplaine and Abram P. Mc-
Combs, their associates, successors and assigns, be,
and they hereby are created a body corporate by
the name and style of the Havre Iron Company,
and by that name shall have perpetual succession,
and shall be capable in law to hold and dispose of
property, real, personal and mixed, fee simple or
leasehold, to sue and be sued, to plead and be im-
pleaded, and answer and defend, and be answered
and defended in any court of law or equity, and in
any other place whatsoever, to receive and make
deeds and contracts, to make, have and use a com-
mon seal, and renew, alter and change the same at
pleasure, to ordain and establish such by-laws, ordi-
nances and regulations as may appear necessary for
regulating the concerns of said corporation, not
being contrary to this Act or to the constitution and
laws of this State or of the United States, and to
do all such acts and things as shall be necessary
and proper for the manufacture of pig, bloom, bar,
plate or sheet iron, and articles made thereof, in
whole or in part, and to mine and dig ore and coal
in the State of Maryland or elsewhere, and use and
sell the same.
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Capital stock.
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Sec. 2. And be it enacted, That the capital stock
of this corporation be one hundred thousand dol-
lars, divided into one thousand shares of one hun-
dred dollars each, and that the said corporation
shall have power at any time to increase its capital
stock to any sum not exceeding five hundred thou-
sand dollars, by new subscriptions or by convert-
ing a portion of the nett profits into new stock, and
distributing the same among the stockholders, ac-
cording to their respective interest in said corpora-
tion whenever the same shall be determined by the
board of directors.
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Commence
ment of busi-
ness.
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Sec. 3. And be it enacted, That this corporation
shall not commence the business for which it is in-
corporated until fifty thousand dollars of its capital
stock shall have been paid in, in cash.
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