EDWIN WARFIELD, ESQ., GOVERNOR.

1147

in or out of this State, which may be necessary or proper to
enable said corporation to carry out its operations or fulfill
the purposes named in this Act, and generally to do every
other act or thing not inconsistent with the law which
may be necessary or proper to promote the objects, designs
and purposes for which this corporation is formed, which
are hereby declared to be for the purposes of man-
ufacturing electricity for illuminating purposes, power,
and for all other purposes to which electricity or
magnetism may be applied, and for collecting water, ele-
vating, preserving, purifying, using and distributing the
same as the means of abundantly supplying with water the
public and private houses, streets, squares, lanes, alleys and
other places, and manufacturing purposes or other dispo-
sition of the same in the county of Montgomery, in the State
of Maryland; provided, however, that the operations of this
company shall be confined to Montgomery county.
SEC. 2. And be it enacted, That the capital stock of said
corporation shall be twenty thousand ($20,000) dollars,

CHAP. 588

divided into four hundred shares of fifty dollars each, which
capital stock may be increased by a majority vote of the
stockholders to five hundred thousand dollars.
SEC. 3. And be it enacted, That the persons hereinbefore
named as incorporators, or a maioritv of them, mav cause

Capital stock.

books to be opened at such times and places in the town of
Rockville, or such other town or city in said county as they
may 'elect, in which their principal offices shall be located,
and that when fifty or more shares of said stock shall have
been subscribed said incorporators, or a majority of them,
shall call a general meeting of the subscribers at such time
and place as they may appoint, and after having given ten
days' notice of such meeting by three insertions in some
newspaper printed and published in the town of Rockville,
in Montgomery county; and at such meeting said incorpo-
rators, or a majority of them, shall lay the subscription
books before the subscribers then and there present; there-
upon the subscribers, or a majority of them, who may repre-
sent a majority of the stock so subscribed, shall elect by
ballot not less than seven nor more than twelve directors,
who shall be stockholders in said corporation, to manage the
affairs of said corporation, which directors, or a majority of
them, shall have the power to elect a president from among

Subscription
books
opened.