210

LAWS OF MARYLAND.

road to any port or ports, place or places what-
soever, and to contract with the owners of any
steamboat or other railroad company for the
transportation of freights and passengers to
and from any such railroads or steamboats.

SEC. 2. And be it enacted, That said corpora-
tion shall have perpetual existence, and its

Exempt from
taxation.

franchises, property, shares of capital stocks
and bonds shall be exempt from all State,
county or municipal taxation for the term
of thirty years, accounting from the date of
the completion of said road between the
termini mentioned in its charter.

SEC. 3. And be it enacted, That Elihu E. Jack-
son, Thomas B. Taylor, John Robinson, of E.,
Theophilus Tunis, and Joseph B. Seth, the cor-
porators mentioned in said charter, shall not
be required to advertise the opening of sub-
scription books, as provided in said General
Law, but that the Board of Directors shall con-
sist of thirteen, and that the said Elihu E.
Jackson, Thomas B. Taylor, John Robinson, of
E., Theophilus Tunis, and Joseph B. Seth,
original incorporators, and William H. Jones,
John Hurst, James H.. Douglas, George Numsen,
Hiram G. Dudley, James H. Covey, J. Wirt
Randall, Zora Brinsfield, shall constitute the
Board of Directors for the first year, or until
their successors are duly elected and qualified,
and that said Board of Directors are hereby

Board of Di-

rectors.

authorized to open books for the subscription
to the capital stock of said railroad company
at such time and place, and receive subscrip-
tions in moneys or in property, real, personal
or mixed, or in labor or services, at such valu-
ation as may be agreed upon between the said
company and those subscribing at the time of
said subscription, instead of pursuing the pro-
visions of the seventh section of the said act
of eighteen hundred and seventy-six; and
said Board of Directors shall have power to
determine in what installments said subscrip-
tions to said capital stock shall be paid, and