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Incorporated
— rights and
powers.
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SECTION 1. Be it. enacted by the General Assem--
bly of Maryland; That'William Woodward, Robert
T. Maccoun, Henry William Ellicott, Alexander
Brown Davidson, William F. Frick, Charles R.
Gallagher and John Swan, as Commissioners, and
all and every other person and persons hereafter
becoming members of The Locust Point Company
of the City of Baltimore in the manner hereinafter
mentioned, their successors and assigns shall be
and they hereby are created and made a corpora-
tion and body politic by the name and style of
The Locust Point Company of the City of Balti-
more, and by that name shall and may have per-
petual succession and be capable in law of pur-
chasing, holding, improving and disposing of
property real, personal or mixed, to the extent, in
the manner and for the purposes herein authorized,
and may sue and be sued, plead and be impleaded,
answer and defend and be defended in all courts
of law and equity, and may receive and make all
deeds, transfers, instruments of writing, covenants,
grants, contracts, agreements and bargains what-
soever, necessary for the said. purposes, and may
have and use a common seal, which they shall have
power to renew or alter at pleasure, and generally
may do every other act or thing necessary to carry
into effect the provisions of this act and promote
the objects and designs of said company as author-
ized by this act.
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Capital stock.
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Sec. 2. And be it enacted, That the capital stock
of this corporation shall consist of two hundred
and fifty thousand shares of the par value of six
dollars, each, and that the members of this cor-
poration when they shall become . stockholders
therein in the manner hereinafter provided for,
shall immediately thereafter, and also annually,
afterwards in the city of Baltimore, at such time
and in such manner as may be prescribed by the
by-laws and regulations that may be adopted for
that purpose, proceed to elect from the stockhold-
ers of said company seven Directors, of whom a
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