A. W. BRADFORD, ESQUIRE, GOVERNOR.

each, and as soon as ten thousand shares of said
capital stock shall be subscribed, the subscribers
of said capital stock, their successors and assigns
shall be and they are hereby declared to be incor-
porated into a company by the name of the Metro-
politan Rail Road Company, and by that name
shall be capable in taw of purchasing, holding,
selling, leasing and conveying estates, real, person-
al and mixed, so far as shall be necessary for the
purposes hereinafter mentioned, and no further,
and shall have perpetual succession, and by said
corporate name, may sue and be sued, and may
have and use a common seal, which they shall
have power to alter and renew at their pleasure,
and shall have, enjoy and may exercise all the
powers, rights and privileges which other corpo-
rate bodies may lawfully do for the purposes men-
tioned in this act.

207

Sec. 3. And be it enacted, That upon every such
subscription, there shall be paid at the time of sub-
scribing to the said Commissioners or their agents
appointed to receive such subscriptions, the sum
of five dollars on every share subscribed, and the
residue thereof shall be paid in such instalments,
and at such times as it may be required by the

Subscriptions,

President and Directors of said company; pro-
vided, that not more than one third of the sub-
scription be demanded in any one year from the
commencement of the works nor any payment de-
manded until at least sixty days public notice of
such demand shall have been given by the said
President and Directors by advertisement pub-
lished once a week for three successive weeks in
some newspaper or newspapers published in Wash-
ington city, Rockville, Frederick, and Hagerstown,
and if any subscriber shall fail or neglect to pay
any instalment 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 Directors for the benefit of the company, but the
President and Directors may remit such forfeiture
on such terms as they shall deem proper.

Proviso.

Sec. 4. And be it enacted, That on the expira-
tion of the ten days for which the books are first
opened, if ten thousand shares of said capital stock

Management,

&c.