110

LAWS OF MARYLAND.

to act, another or others may be appointed in his
or their stead by a majority of the remaining Com-
missioners.

Incorporated.

Sec. 2. And be it .enacted. That the subscribers
to said stock and their successors and assigns shall
be and they are hereby declared to be incorporated
into a company by the name of the Baltimore and
Herring Run Passenger Railway Company, and
by that name shall be capable in law of purchas-
ing, holding,, selling and conveying of property,
real, personal or mixed, as shall be necessary for
the purpose hereinafter mentioned and no further,
and shall have perpetual succession, and by such
corporate name may sue and be sued, and may
have and use a common seal, which they shall
have power to alter or renew at their pleasure and
shall have and enjoy and may exercise all the
rights, powers and privileges incident and neces-
sary to the purposes of said corporation as created
by this act.

Capital stock.

Sec. 3. And be it enacted, That the subscrip-
tions to the capital stock of said company shall be
in shares of twenty dollars each, to such amounts
as the Commissioners aforesaid or a majority of
them may deem necessary not exceeding ten thou-
sand shares, and upon every subscription there
shall be paid at the time of subscribing to the
said Commissioners or their agents, the sum of
two dollars on every share subscribed, and the
residue thereof shall be paid in such instalments
and at such times as may be required by the Pre-
sident and Directors of said company, and if any
subscriber shall fail or neglect to pay any instal-
ment, or part of said subscription thus demanded,
for the space of sixty days next after the time the
same shall be due and payable, the stock on which,
it is demanded shall be forfeited to the company,
and may be sold by the said President and Direc-
tors for the benefit of the company, but the Presi-
dent and Directors may remit any such forfeiture
on such terms as they shall deem proper.

Commissioners
to call meeting

Sec. 4. And be it enacted, That as soon as one
thousand shares of twenty dollars each of said
capital stock shall have been subscribed, tbe said
Commissioners, or a majority of them, shall call a
general meeting of the subscribers at such time