510

LAWS OF MARYLAND.

Principal
office.

SEC. 13. The principal office of this company shall be located
in Washington county.

Rignt of
appeal.

SEC. 14. The General Assembly of Maryland reserves the
right to alter, amend or repeal the charter.

Effective.

SEC. 15. And be it enacted, That this act shall take effect
from the date of its passage.

Approved April 4, 1896.

CHAPTER 286.

AN ACT to incorporate the Southern Asphalt Paving Com-
pany.

A body cor-
porate.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Josiah L. Blackwell, Henry B. Keyser, David E.
Evans, Arthur L. Shreve and W. R. Molinard, and all other
persons who shall hereafter become stockholders in the com-
pany hereby incorporated, shall be, and are hereby made and
constituted a body corporate, by the name of the Southern
Asphalt Paving Company, and by that name shall have succes-
sion and be able to sue and be sued, plead and be impleaded in
any court whatever, and may have and use a common seal, and
may alter and renew the same at pleasure.

Capital stock

SEC. 2. And be it enacted, That the capital stock of the said
corporation shall consist of tive hundred shares, of the face
value of one hundred dollars each, being fifty thousand dollars,
and the incorporators, or a majority of them named in this
act, shall have the power to open books of subscriptions, at
such times and places as they may deem expedient, and sub-
scriptions to the capital stock may be paid in any property
necessary for the business of the said corporation at valuations
determined by the said incorporation, or a majority of them,
and when not less than two hundred shares of the said capital
stock have been subscribed, and when fifty dollars for each
share have been paid in, the stockholders may organize the said
corporation, and may elect directors to serve until the ensuing
annual election, or until their successors have been duly elected
and qualified; and the directors so elected shall elect from their
number, a president of the said corporation, to serve until the
next annual election, and until his successor is elected and qual-
ified; and the directors so elected, together with the president
so chosen by them, shall have, and they are hereby empowered