JOSEPH KENT, ESQUIRE, GOVERNOR.

1827.

may deem convenient, after giving at least three weeks notice
of such time and place, and the object of the meeting, in one
newspaper published in Cecil county, one in the city of Balti-
more, and one in the state of Delaware; at which meeting the
holders of the major part in amount of the stock of the said
company, attending in person or by proxy, shall be competent
to decide whether or not the capital stock of the said company
shall be increased for the purpose of locating and constructing
a rail road from French Town towards New-Castle, in the

CHAP, 207

manner and on the terms authorised and provided by this act;
and if at such meeting it shall be decided to increase the stock
for the purpose aforesaid the said president and managers
shall provide for opening a book to receive subscriptions for
such increase to the capital stock of the said company, in shares

If affirmative,
books to be open-
ed for additional
stock.

of twenty five dollars each, ar such time and place, and on
such notice and terms of payment as a majority of the said
president and managers shall deem proper; and the said book

Shares $25

shall be continued open until so many shares shall be sub-
scribed as shall amount to two hundred thousand dollars, or
such smaller sum as shall be sufficient to complete the road
hereby authorised; and on such amount being subscribed, the

Capital $200,000

said president and managers may proceed to require and en-
force the payment of the stock so subscribed, agreeably to the
terms of subscription, in the manner authorised by their act
of incorporation, passed at November session, eighteen hun-
dred and nine, chapter sixty four; and after the payment of
five dollars per share on the stock so subscribed, each subscri-
ber shall be entitled to the rights and privileges of a stock-
holder of the said company, and to vote at elections and other
meetings of the stockholders, on complying from time to time
with the terms of payment as required by the president and
managers.

Payments,

SEC. 2. And be it enacted, That when the said amount of
increased stock shall be subscribed, and five dollars per share
paid thereon, as above provided, the corporate name of the
said company shall be, and the same is hereby changed and
altered to the New-Castle and French Town Turnpike and
Rail Road Company, and by that new corporate name, the

Name changed.

holders as well of the original as the increased stock, are
hereby incorporated, and shall possess all the rights and pri-
vileges of a corporation, and be entitled to all the property,

Corporate powers
granted

rights and privileges, and to exercise all the powers granted to
and vested in the president, managers and company, and cor-
poration herein first above mentioned by the charter aforesaid,
or by any other law of this state, and all powers granted by
this act, and the said corporation, by the said new name,
shall be seized and possessed of, and entitled to, all the pro-
perty, effects and claims of the first aforesaid corporation, and
may hold or dispose thereof, and may sue and be sued, and
may make and use a corporate or common seal, and the same
may break or alter, and renew, and do all other acts which
corporate bodies may lawfully do; and shall be answerable
and bound for all existing contracts and claims whatsoever, in

Title to property
vested, &c.