722

LAWS OF MARYLAND.
CHAPTER 430.

AN ACT to incorporate the Maryland Rail-
road Equipment Company.

SECTION 1 . Be it enacted by the General As-
sembly of Maryland, That J. Willcox Brown,
John J. Middleton, Lewis N. Hopkins, J. Olney
Norris, James Sloan, Jr., Basil B. Gordon,

Corporation.

Charles Goldsborough, George C. Jenkins and
William H. Blackford, and all other persons
who shall hereafter become stockholders in
the company hereby incorporated, shall be a,
body corporate by the name of the Maryland
Railroad Equipment Company, and by that
name shall have perpetual succession, and may
sue and be sued in any court whatever.

SEC. 2. And be it enacted, That the capital!
stock of the said company shall consist of one
thousand shares of the value of one hundred
dollars each, being one hundred thousand dol-
lars, with the privilege to increase the same,
by a vote of the stockholders at a special
meeting to be called for that purpose, to five
hundred thousand dollars; and the incorpora-
tors or a majority of them named in this act_r
shall have the power to open books for sub-
scription at such times and places as they may
deem expedient; and when not less than five
hundred shares have been subscribed, and

Capital stock.

when fifty per centum thereon has been paid
in, the stockholders may organize the com-
pany and may elect not less than seven nor
more than twelve directors to serve until the
ensuing annual election, or until their suc-
cessors 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 em-
powered to have and to exercise, in the name
and behalf of the company, all rights and
privileges which are intended to be hereby
given; and should the capital stock be in-
creased at any time the stockholders, at the