1432 LAWS OF MARYLAND.

CHAPTER 385.

AN ACT to incorporate the Elkton, Fair Hill and Oxford Elec-
tric Light and Power Company.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Dr. C. P. Carrico, George E. L. Hess, John Lungren,
H. Eugene Mackie and Efiester Hess, all citizens of the State
of Maryland, be and they are hereby constituted a body cor-
porate, by the name and style of the Elkton, Fair Hill and
Oxford Electric Light and Power Company, and by that name
shall have perpetual succession.

SEC. 2. And be it enacted, That the said corporation under
above name shall be capable in law of purchasing, holding,
possessing, selling or conveying property, real, personal and
mixed, for the purposes hereinafter mentioned, and by said
corporate name may sue and be sued, and may make, have and
use a common seal, and shall have and enjoy and may exercise
all the powers, rights and privileges, acts, matters and things
incident and necessary for the purposes of said corporation as
created by this Act.

SEC. 3. And be it enacted, That the capital stock of said
Company shall be sixty thousand dollars, with the privilege of
increasing the same to five hundred thousand dollars, or such
portion as the president and directors may elect, and which
stock shall be divided into shares of fifty dollars each, which
shall be collected by the president and directors of said cor-
poration in such instalments and at such time and places as
they may appoint and require; and if any subscriber to the
capital stock of said corporation shall neglect or fail to pay
any of the instalments or parts of his, her or their subscrip-
tion thus demanded for the space of twenty days next after the
time when the same shall be due and payable, the stock on
which it is demanded shall, at the pleasure of said president
and directors, be forfeited to the company and sold for its
benefits, but the said president and directors may, in their
discretion, remit such forfeiture or recover in the name of the
company such instalments or parts of subscriptions by suit or
action at law, or in any other way, and upon such terms as
they may deem proper, and in the event that the capital stock
issued or subscribed for shall prove insufficient to construct,
complete and fully equip the railroad and power company
hereinafter mentioned, or to pay for any railroad equipment,
power or plant, the acquisition of which may be by the said
directors considered desirable for the purposes of this corpora-
tion, then the directors may issue, from time to time, in the
name of said company; mortgage bonds to an amount sufficient,
in the judgment of said president and directors, to complete