ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

ceiving subscriptions to said capital stock until
the whole amount of the said capital stock shall
have been subscribed for and taken. If any of
the above-named commissioners shall die, resign
or refuse to act, another or others may be ap-
pointed in his or their stead by a majority of the
remaining commissioners.
SEC. 2, And be it enacted, That the subscribers
to said stock, and their successors and assigns,

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shall be and they are hereby declared to be in-
corporated into a company by the name of "The
Hagerstown City Passenger Railway Company,"
and by that name shall be capable in law of pur-
chasing, holding, selling and conveying prop-
erty, real, personal and mixed, as far as shall be
necessary for the purposes hereinafter men-
tioned ; and shall have perpetual succession, and
by such corporate name may sue and be sued,
and have and use a common seal, which they
shall have the power to alter and renew at their
pleasure, and shall have and enjoy and may ex-
ercise all the powers, rights and privileges inci-
dent and necessary to the purposes of the cor-
poration created by this act.
SEC. 3. And be it enacted, That the capital
stock of said company shall not exceed fifty
thousand dollars ($50,000), and shall be divided
into two thousand (2,000) shares of twenty-five

Incorporated.

dollars ($25) each, one-fifth of which shall be
payable to the president and directors of said
company upon the organization of said company
under the provisions of this act, and the remain-
ing four-fifths in such instalments and at such
times as they may appoint and require. If any
subscriber to said capital stock shall neglect or
fail to pay any of said instalments for twenty
(20) days after the same shall be due and pay-
able, his or her share or shares of stock on which
an instalment may so remain unpaid shall be
forfeited to the company and may be sold by it ;
but the said president and directors may, in their
discretion, remit such forfeiture upon payment
of the instalment due at any time before the
sale of said share or shares, or may sue the said
subscriber for the amount of such instalment
and recover the same by suit or action at law in
the name of the company.

Capital stock.