1228 LAWS OF MARYLAND.

development of said land and for the further purpose of aiding
in the development of its lands and properties is hereby au-
thorized and empowered to subscribe for and hold capital stock
and bonds issued by manufacturing companies and corpora-
tions.

SEC. 7. And be it enacted, That said company, in the devel-
opment of its lands and other properties, may own and oper-
ate water works, and to supply corporations and individuals
with water and water power, and to acquire, erect, maintain,
construct and enlarge all necessary dams, buildings, plants and
machinery of every sort for supplying corporations and in-
dividuals with water and water power for all purposes and to
carry on the business incidental thereto, including the purpose
of acquiring, constructing and operating water works, pump-
ing stations and system of water supply, and the dams, reser-
voirs and pumping stations appertaining thereto in Allegany
county, and in the acquisition of such property, real and per-
sonal, as may be useful and necessary for the purposes men-
tioned in this section.

SEC. 8. And be it enacted, That said incorporators and the
Board of Directors as herein constituted, before proceeding to
exercise any of the powers herein granted, shall file with the
State Tax Commissioner of Maryland a certified copy of this
Act and pay to the Treasurer thereof the bonus tax as now
required by law upon amount of capital stock which said cor-
poration is authorized to have, and a like bonus tax upon
amount of any subsequent increase of capital stock which said
company is authorized to issue; the bonus tax upon any in-
crease of the capital stock shall be due and payable immedi-
ately after the passage of any resolution by the stockholders of
the company authorizing such increase; and before such shares
of increased capital stock are issued, a certificate of the pro-
ceedings of such meeting showing the amount of capital actu-
ally paid in, either by subscriptions to the capital stock, or
stock exchanged by way of payment for real estate and other
property purchased for the use of the company, or for services
rendered, and the amount to which the capital stock shall be
increased shall be made out and signed by the chairman of such
meeting, with his affidavit, and the corporate seal of said com-
pany affixed, attested by the secretary and filed with the State
Tax Commissioner.

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

Approved April 11, 1910.