138

LAWS OF MARYLAND.

first preferred stock shall be issued to and in the
name of said County Commissioners of Wash-
ington county, and shall specify that dividends
shall be payable thereon, when earned, at a
rate not exceeding six per cent, per annum,
payable semi-annually.

SEC. 3. And be it further enacted, That the
preferred stock hereby authorized to be issued
shall have preference as to dividends at a rate
not exceeding six per cent, per annum over

Preference
to be given.

the common stock of said company, and over
any other preferred stock that may hereafter
be issued by said company; but the said pre-
ferred stock shall not entitle the holder or
holders thereof to vote at any meeting of the
stockholders of said company.

Effective.

SEC. 4. And be it enacted, That this act shall
take effect from the date of its passage.

Approved March 25, 1886.

CHAPTER 100.

AN ACT to incorporate The Catonsville Water
Company.

SECTION 1. Be it enacted by the General As-
sembly of Maryland, That Charles J. Baker,
G. W. Macgill, J. Pembroke Thom, Henry S.

Style.

Taylor, John S. Wilson, I. Parker Veazey, Wil-
liam L. Stork and Benjamin Whitely, and their
successors, be and they are hereby constituted
a body corporate and politic, under the name
and style of "The Catonsville Water Com-
pany,'' and by that name shall have perpetual
succession.

SEC. 2. And be it enacted, That the said com-
pany, under the above name and style, shall
be capable in law to sue and be sued, to plead
and be impleaded, to answer and be answered