JOHN WALTER SMITH, ESQ., GOVERNOR.

745

CHAPTER 513.
AN ACT to amend the charter of the Rising Sun, North
East and Elk River Railway and Power Company as incor-
porated by Act of Assembly of Maryland, January Session
of 1900, Chapter 89.

CHAP. 513,

SECTION 1. Be it enacted by the General Assembly of
Maryland, That James Mailer, of the State of Pennsylvania,
John M. C. Cohart, Levi O. Cameron, George W. Cosden,
Ellis L. Duyckineck, Austin L. Crothers, Andrew Anderson,
Mount E. Kirk, "Win. L. Mearns and Jno. H. Kimble, all of
Cecil county, Maryland, and their successors in office, are
hereby created a body corporate under the name of the Rising
Sim, North East and Elk River Electric Railway and Power
Company, and the said incorporators are hereby constituted
and appointed the directors of said corporation, and they shall
have power at any time after the passage of this Act to
organize by the election of a president and such other officers
as may, in their judgment, be to them necessary for the
proper management of the affairs of said company.

Body
corporate.

SEC. 2. And be it enacted, That said corporation under the
above name shall be capable by law of purchasing, holding,
selling and conveying property, real, personal and mixed, as
far as shall be necessary for the purpose hereinafter mentioned,
and no further, and shall have perpetual succession, and by
such corporate name may sue and be sued, and to make, have
and use a common seal, and the same to alter and renew at
their pleasure, and shall have and enjoy and may exercise all
the powers, rights and privileges, acts, matters and things
incident and necessary to the purpose of said corporation as
created by this Act

Authority to
purchase,
hold and sell
property,
etc.

SEC. 3. And be it enacted, That the capital stock of said
company shall be fifty thousand dollars, with privilege to
increase the same to one hundred thousand dollars, and shall
be divided into shares of twenty-five ($25) dollars each,
which shall be collected by the president and directors of said
corporation in such instalments and at such times and place
as they may appoint and require; and if any subscriber to
said corporate stock shall neglect or fail to pay any instal-
ments, or part or parts of their subscriptions thus demanded
for the space of twenty days next after the time the same
shall be due and payable, the stock on which it is demanded
shall at the pleasure of said president and directors be forfeited
to the company atid sold for its benefit; but the said president
and directors may, in their discretion, remit such forfeiture,
or recover in the name of the company, such instalments by

Capital stock,
with
privilege to
increase
same.