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in any Court of Law or Equity, to make and
use a common seal, and to alter the same, and
generally to do and perform all such acts, and
make all such agreements and contracts, and
purchase, lease, hold, use and possess such
lands, water-rights, powers and privileges,
tenements, goods and chattels as may be nec-
essary for collecting streams of water, elevat-
ing, preserving, using and distributing the
same, as the means of abundantly supplying
with pure water, the public and private houses,
streets, squares, lanes, alleys and other places
in the village of Catonsville, and also in the
First Election District of Baltimore county,
and for properly disposing of the said water,
and such other powers as may be necessary
to carry into effect the purposes of this act.
SEC. 3. And be it enacted, That the capital
stock of the said company shall consist of six
hundred shares at fifty dollars each, being
thirty 'thousand dollars, with the privilege to
increase the same by a vote of the stock-
holders at a special meeting to be called for
that purpose, to sixty thousand dollars; and
the corporators, or a majority of them, named
in this act, shall have power to open books
lor subscription at such times and places as
they may deem expedient, and when not less
than four hundred shares have been sub-
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Powers and
privileges.
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scribed, and when fifty per centum thereon has
been paid in, the stockholders may elect five
directors, to serve until the ensuing annual elec-
tion, or until their successors shall have been
duly elected and qualified; and the directors
so elected, of said company, when it shall
have been organized, may, and they are hereby
authorized and empowered to have and exer-
cise, in the name and in behalf of the com-
pany, all rights and privileges which are in-
tended to be hereby given; and should the
capital stock be at any time increased, the
stockholders at the time of such increase shall
be entitled to a pro rata share of such increase
upon the payment of the par value of the
same.
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Capital stock.
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