JOSEPH KENT, ESQUIRE, GOVERNOR.

1827

states or city, or any part of them, shall not be subscribed by
said states or city respectively, during the time for which
stock is reserved for them, in either case the president and
directors of the said company, or a majority of them, shall
have power to open books, and to receive subscriptions to
any of the capital stock of said company, which may remain
unsubscribed for, or to sell or dispose of such unsubscribed
stock for the benefit of the company, tor any sum not under
its par valae, and the purchasers or subsciibers of such stock
shall have all the rights, powers and privileges of original
subscribers, and shall be subject to the same regulations.

CHAP. 72.

SEC. 12. And be it enacted. That the said president and
directors, or a majority of them, may appoint all such officers,
engineers, agents or servants whatsoever, as they may deem
necessary for the transaction of the business of the compa-
ny, and may remove any of them at their pleasure; that they,
or a majority of thern, shall have power to determine by con-
tract the coaipensation of all the engineers, officers, agents or
servants ia the employ of said company, and to determine by
theii by-laws the manner of adjusting and settling all accounts
against the company, and also the manner and evidence of
transfers of stock in said company; and that they or a majo-
rity of them, shall have pow*jr to pass all by-laws which they
may deem necessary or proper for exercising all the powers
vested in the company hereby incorporated, and for carrying
the objects of this act into effect; Provided only, That such
by-laws *hall not be contrary to the laws of the United States,
or the laws of any of the states assenting to this act, or any
of the provisions of this act.

Powers of presi-
dent and directors

SEC. 13. And be it enacted, That if the capital stock of the
said company shall be deemed insufficient for the purposes of
this act, it shall and may be lawful for the president and di-
rectors of said company, or a majority of them, frutn time to
time to increase the said capital stock by the addition of as
many shares as they may deem necessary, not exceeding in
amount one million of dollars, for which they may, at their
option, cause subscriptions to be received, giving notice in
the manner herein before prescribed, or may sell the same for
the benefit of the company for any sum not under their par
value.

Increase of capitol
provided to j>.

SEC. 14. And be it enacted, That the president and direc-
tors of said company shall be and they are hereby invested
with all the rights and powers necessary for the construction
and repair of a rail road from the city of Baltimore to some
suitable point or points on the Susquehanna river to be by
them determined, not exceeding sixty-six feet wide, with as
many set of tracks as the said president and directors may
deem necessary; and they may cause to be made, or contract
with others far making, said rail road or any part of it; and
they, their agents, or those with whom they may contract for
making any part of the same, or their agents, may enter upon
and use, and excavate any land which may be wanted for the
scite of said road, or the erection of warehouses, for other

Authority to con-
struct the road.