1827

LAWS OF MARYLAND.

CHAP. 186

posited in such bank as may be most convenient to said com-
missioners, for the use of the company aforesaid as soon as
the same shall be organized, and the officers chosen as here-
inafter mentioned.

Meeting to orga-

nize

Sec. 3 And be it enacted, That when one thousand shares
or more of the sard stock shall have been subscribed, the said
commissioners, or a majority of them, shall, as soon as conveni-
ently may be, give thirty days notice in the papers aforesaid
of the time and place by them appointed for the sabscribers
to meet, in order to organize the said corporation, and to
thoose by a majority of votes of the said subscribers by ballot,
to be delivered in person or by proxy duly authorised, sevea
managers from among the stockholders to conduct the busi-
ness of the said company until the first day of May, eighteen
hundred and twenty nine, and until their successors shall be
chosen in the manner hereinafter provided; and at such elec-
tion, and all subsequent elections and meetings of the stock-
holders for determining any question arising at such meeting,
each stockholder shall be entitled to one vote for every share
held by him, her or it, not exceeding twenty five.

Corporate powers.

SEC. 4. And be it enacted, That subcribers for stock of the
said company shall be, and they are hereby incorporated and
constituted a body politic, by the name of the Franklin Turn-
pike Road Company, and by the same name the said stock-
holders and their successors and assigns shall have perpetual
Succession, and shall have all the privileges and franchises of
or incident to a corporation, and shall be capable of taking
and holding the said capital stock and the increase and profits
thereof, and of enlarging the same from time to time by new
subscriptions, on the original terms, in such manner and form
as they shall think proper, if such enlargement shall be found
necessary to fulfil the intent of this act, and of purchasing and
taking to them and their successors, in fee simple, and for
any lesser estate, all such lands, tenements, hereditaments and
estate, real and personal, as shall be necessary to them in the
prosecution of their works, provided the said real estate shall
not exceed two acres in any one lot or parcel for the use of the
gate keepers, and twenty acres in one other place; and of
suing and being sued, answering and being answered, and the
said company shall have power to make a seal, and alter, and
break, and renew the same according to their will and plea-
sure, and to do all other acts necessary to the purposes for
which they are hereby incorporated, as fully as any other cor-
poration may do.

Instalments

SEC. 5, And be it enacted, That the sums so subscribed shall
be paid to the managers elected agreeably to this act, or to
such persons as they, or a majority of them, shall direct, in
such instalments or proportions, and at such times as the
managers may appoint, they giving two months notice of the
payments so required in the newspapers as aforesaid.

Annual election of

managers

SEC. 6. And be it enacted, That the stockholders in said
company shall meet on the first Monday in May, in the year
eighteen hundred aad twenty-nine, and on the first Monday