LLOYD LOWNDES, ESQUIRE, GOVERNOR.

Canal and Navigation Company," and by this name may con-
tract and be contracted with, sue and be sued, plead and be
impleaded, in any court of law or equity, and the said com-
pany shall have the right to construct a canal, and all the dams,
locks, feeders and other works and devices of every description
or sort appertaining thereto in constructing said canal from
such point on Curtis creek, Anne Arundel county, and to build,
lease and own wharves and buildings necessary for the use of
the company hereby incorporated, and by the route deemed
most suitable by them, to the Severn river, in said county,' and
to lease, purchase or build boats of every description, and to
use them with steam power, or power of any other description,
to navigate the said canal, and all other waters of this State, as
a common carrier of passengers and all kinds of freight.
SEC. 2. And be it enacted, That the capital stock of the said

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Baltimore, Curtis Bay and Annapolis Canal and Navigation
Company shall consist of one hundred thousand dollars, divided
into two thousand shares, of the par value of fifty dollars each,
which shall be considered as personal property, and shall be
transferable in such manner as may be provided by the by-laws
of said company ; and each share thereof shall entitle the
holder thereof to one vote in all meetings of the stockholders
of said company, to be given either by person or by proxy,
duly appointed, by an instrument properly witnessed by a com-
petent witness ; and for the purpose of obtaining subscriptions
to the said capital stock, books shall be opened under the direc-
tion of such person or persons us the incorporators named in
this Act, or the president and directors of the company, or a
majority of them, hereafter to be selected, may choose, and at
such time, in such place and under such regulations as to the
mode, manner and time of payment, and otherwise, as they or
a majority of them shall deem expedient ; and the said capital
stock may be increased at any time to two hundred thousand
dollars by a vote of the majority of the stockholders of said
company voting by stock ; and the corpus of the canal, its
franchises, appurtenances, rights, boats and property of every
description, may be mortgaged at any time by the stockholders,
or a majority of them, in a sum not exceeding its capital stock
at the time of said mortgage, and from the sale of its bonds,
or proceeds of mortgage, the canal may be improved and
extended, and boats and other property purchased or repaired.
SEC. 3. And be it enacted, That whenever subscriptions to
the amount of ten per cent, of the capital stock shall have been
made and paid in by said incorporators named in the first Bee-

Capital stock.