810

LAWS OF MARYLAND.

CHAP. 445
Preamble.

Hagerstown Railway Company was incorporated for the pur-
pose of constructing a railroad from some point in Baltimore
city through the city of Baltimore, Baltimore county, Carroll
county, Frederick county and Washington county, to some
point in the city of Hagerstown, Washington county, Mary-
land,
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the said Baltimore, Frederick and Hagerstown

Declared to be
a corpora-
tion for
certain uses.

Railway Company is hereby declared to be a, corporation for
the uses and purposes, and with all the rights now appertain-
ing thereto by law, as the railroad in, by and under said
charter, with perpetual continuance and succession, subject,
however, and only, to the constitutional rights of amendment
and repeal.
SEC. 2. And be it enacted, That James E. Ingram, James
E. Ingram, Jr., J. Roger McSherry, Robert P. Graham and
J. Hurst Purnell, the corporators mentioned in said charter,

Board of
directors.

shall not be required to advertise the opening of subscrip-
tion books as provided by the general law; and that the
board of directors shall consist of nine, and that James E.
Ingram, Thomas H. Haller, Johnzie Beasman, Frank H.
Callaway, James E. Ingram, Jr., J. Roger McSherry, Emory
L. Coblentz, Charles W. Slagle and Robert P. Graham shall
constitute the board of directors for the first year and until
their successors are duly elected and qualified; and that said
board of directors are hereby authorized to open books for
subscriptions to the capital stock of said railroad at any time
and place, and receive subscriptions of money or in property,
real, personal or mixed, or in labor or services, at such valua-
tion as may be agreed upon between the said company and
those subscribing at the time of such subscription, instead
of pursuing the provisions of Section 163 of Article 23 of the
Code of Public General Laws of 1888, codifying the seventh
section of Chapter 242 of the Acts of 1876; and said board
of directors shall have power to determine in what instal-
ments the said subscriptions to said capital stock shall be
paid; and upon failure to pay any such instalment or any
such subscription within thirty days after the same shall be
due and demandable, the stock on which it is demanded, at
the pleasure of said board of directors, shall be forfeited to
the company and sold for its benefit; but the board of
directors may remit such forfeiture or may recover in the