A. W. BRADFORD, ESQUIRE, GOVERNOR.

either crude or otherwise, and for transporting to
market and vending the same.

253

Sec. 2. And be it enacted, That the capital
stock of said corporation shall be one hundred
thousand dollars, divided into two thousand shares
of fifty dollars each, and privilege is hereby given
to the said company to increase its capital stock to
three hundred thousand dollars by new subscrip-
tions, whenever the same shall be so determined by
the Board of Directors.

Capital stock.

Sec. 3. And be it enacted, That the persons
named in the first section of this act, or a majority
of them, be and they are hereby appointed Com-
missioners to receive subscriptions to the capital
stock of said company, and they or a majority of
them may cause books to be opened at such time
and place in Baltimore city or elsewhere as they
may direct, for the purpose of receiving such
subscriptions, and may keep the same open until
the whole number of shares shall have been taken
or subscribed for.

Books to be
opened.

Sec. 4. And be it enacted, That if any subscriber
or his assigns, shall refuse or neglect to pay the
amount of his subscription or its equivalant, for
the space of twenty days next after the same may
be due and payable, the stock on which the same
is due or demandable, shall not be forfeited to the
said company, but the original subscription shall
and may be liable for the full amount due on said
stock.

Original sub-
scription liable

Sec. 5. And be it enacted, That the persons
named in first section of this act, shall be Directors
of said corporation, one of whom shall be appointed
President, and shall have full power to act as
such for the space of twelve months, and after the
organization of said company, which organization
shall take place as soon as the capital stock shall
all have been subscribed for as aforesaid, and on
the expiration of the said twelve months, on such
day as the President and Directors shall name, the
stockholders of the said company shall choose, by
ballot, five members of said company to be Direc-
tors to manage the affairs thereof for twelve
months, and until successors be chosen; and on
the same day in each succeeding year shall the
like election be made, and in all general meetings

President and
Directors.