1132

LAWS OF MARYLAND.

Receive and
hold per-
sonal prop-
erty.

SEC. 4. And be it enacted, That the said corporation is here-
by authorized and empowered to receive and hold real or per-
sonal property, by purchase, lease, gift, devise or bequest, for
the purpose of said corporation, and to grant, dispose of, sell,
convey or lease the same or any part thereof, as fully as any
private individual or other corporate body could or might do.
SEC. 5. And be it enacted, That the members of this corpora-

Directors to
be'elected.

tion shall annually on the second Monday of April, elect by
ballot from among their members, ten directors, who shall
have the general management of the affairs of this corporation,
and the ten directors thus elected shall elect from amongst
themselves a president, vice-president, secretary and treasurer,
and one person may be both secretary and treasurer.
SEC. 6. And be it enacted, That Charles H. Classen, Ben-

Officers,
directors
and mana-
gers.

jamin Wallis, Harry P. Boyd, William A. Allers, Samuel J.
Diggs, Laurence J. Warren, John S. Bullock, Harry E.
Grimes, Clinton M. Johnson and Addison H. Clarke, shall be
the officers, directors and managers of the said corporation,
until the second Monday in April, eighteen hundred and
ninety-eight, and shall serve as such until their successors are
elected.
SEC. 7. And be it further enacted, That the capital stock

Capital stock.

of said body corporate shall consist of tive hundred shares,
each share of the par value of ten dollars, which stock shall
be exempt from county and municipal taxation. Said associa-
tion may begin the prosecution of its business, however, as
soon as twenty per centum of the said stock is paid up.

Effective.

SEC. 8. And be it enacted, That this Act shall take effect from
the date of its passage.
Approved April 9, 1898.

CHAPTER 490.
AN ACT to incorporate the Baltimore, Curtis Bay and Annap-
olis Canal and Navigation Company.
SECTION 1. Be it enacted by the General Assembly of Mary-

Body
corporate.

land, That Arthur M. Easter, James M. Easter, Alvin P.
Kennedy, of the city of Baltimore ; Peter Potee and Frank S.
Revell, of Anne Arundel county, and Elihu S. Riley, Charles
H. Russell of J., John Mullan and Luther H. Gadd, of the
city of Annapolis, and such other persons as may become asso-
ciated with them in the manner hereinafter provided for, be
and they are hereby constituted a body corporate and politic,
by the name of "The Baltimore. Curtis Bay and Annapolis