PRIVATE ACTS. 1219

tion, and by that name shall have perpetual succession and
shall be competent to sue and be sued in any court of law or
equity whatever, to have and to use a common seal, to alter
the same at its pleasure, to make and adopt by-laws for the
government of said body corporate and its officers, agents and
employes, and from time to time amend the same, to elect
or appoint directors and officers, and generally to do, execute
and enforce all and singular such acts, contracts, matters and
things as may be necessary to carry out the object and pur-
poses, to protect the interests of said body corporate and to
exercise the power or powers by this Act conferred upon it.
The office of this corporation shall be located in Ridgely,
Maryland.

SEC. 2. And be it further enacted, That the capital stock of
said body corporate shall consist of one hundred shares of the
par value of five dollars ($5.00) each, with the privilege of
increasing the same from time to time to such an amount as
the stockholders may from time to time deem needful by a vote
of the holders of a majority of the stock present at any annual
or special meeting or meetings, and the incorporators, or a
majority of them named in this Act, shall have power to
open books for subscriptions at such times and places, in the
town of Ridgely and elsewhere, as they may deem expedient,
and they shall have power to compel all subscribers to said
stock to subscribe and pay therefor, at par or at such sum
above par as they may decide, and when the par value or such
sum above par as may be agreed upon on any share shall
have been fully paid, the same shall thereupon become non-
assessable and non-liable for or on account of any purpose
whatsoever; the said body corporate shall not, however, begin
the prosecution of any business under its charter until its
stock to the amount of sixty shares shall have been subscribed,
and when sixty of the one hundred shares shall have been
subscribed, the stockholders may elect not less than five nor
more than seven directors from among themselves, to hold
until the ensuing annual meeting or until their successors have ,
been duly elected and qualified, and the directors so elected of
said company, when it shall have been organized, may and
they are hereby authorized and empowered to have and to
exercise in the name and in behalf of the company, all rights
and privileges which are intended to be hereby given, and
should the capital stock from time to time, or at any time or
times, be increased, the stockholders at the time of such in-
crease or increases shall be entitled to subscribe to a pro rata
share of such increase or increases upon the payment of such
price at par or above par for said stock as may be determined