314

LAWS OF MARYLAND.

and they are hereby appointed Commissioners to
take subscriptions to the capital stock of the
Gwynn' s Falls Railroad Company hereby incorpo-
rated, and they or one-third of them, may cause
books to be opened at such times and places as
they may deem proper, giving such notice by ad-
vertisement as they may deem best, and that upon
the first opening of said books they shall be kept
open at least ten successive days, from ten o'clock,
A. M., until two o'clock, P. M., and if, at the
expiration of that time, such subscription as is
necessary to an incorporation, shall not have been
obtained, the said Commissioners, or one-third of
them, may continue to keep open the said books
at the same or other places, for a period of not ex-
ceeding twelve months, giving such notice as they
may deem proper, and any of the Commissioners
may have books in their possession for said period,
and solicit and take subscriptions to such stock,
and may take such subscriptions by means of
agents under him or them, and if any of the Com-
missioners herein named die or refuse to act, the
remaining Commissioners, or a majority of them,
may appoint others in their stead.

Capital stock
and powers.

Sec. 2. And be it enacted, That the capital stock
of said company shall be the sum of not more than
four hundred thousand dollars, divided into shares
of fifty dollars each, and that as soon as one thou-
sand shares of the said capital stock shall have
been subscribed, the subscribers, their successors
and assigns, shall be and they are hereby declared
to be incorporated by the name of the Gwynn's
Falls Railroad Company, and by that name may
sue and be sued, shall be capable of holding, pur-
chasing, selling, leasing and encumbering, and
conveying any real or personal property, so far as
the same may be required, in and for the purposes
hereinafter mentioned, may have perpetual suc-
cession, may have, use and alter and renew at
pleasure a common seal, and generally may use
and exercise all the powers which other corpora
bodies may lawfully do for the purposes men-
tioned in this act.

Instalments.

Sec. 3. And be it enacted, That the subscriptions
for stock shall be payable in such instalments,
and at such times as the President and Board of
Directors shall designate, of which notice shall be