A. W. BRADFORD, ESQUIRE,GOVERNOR.

Baltimore, incorporated under the Code as afore-
said, shall, upon the recording of said declaration,
be deemed and taken to be stockholders in the cor-
poration created by this act, for such numbers of
shares respectively as may be ascertained and de-
termined by the person named in the act as Com-
missioners, or a majority of them, and shall be
entitled to and receive certificates of stock in this
corporation for such numbers of shares respectively
as may be ascertained and determined, and such
stockholders or parties entitled to stock, shall
thereupon be deemed and taken to be members of
the corporation created by this act, and may and
shall proceed at once, fully to organize the same
according to the provisions of this act; and the
balance of the capital stock of the corporation that
may remain after the issuing of certificates of stock
to all the stockholders aforesaid, to the extent to
which they may be entitled by the determination
and action of the Commissioners aforesaid, shall
be deemed and taken to belong to this corporation,
and the said stock, to the extent of the capital by
this act provided for and allowed, shall and may
be issued from time to time by this corporation,
when organized, at its pleasure and discretion, for
the purchase of property or the raising of money
for the improvement of the lands of the corpora-
tion, or for any other lawful purpose contemplated

57

by this charter; provided, however, that no stock
shall be issued under this act until all the debts
and liabilities of The Locust Point Company of the
City of Baltimore, as now organized, shall be
paid.

Proviso.

Sec. 9. And be it enacted. That this act shall
take effect from and after its passage, and the
General Assembly reserves to itself the right to
alter, amend or repeal this act at pleasure.
8

In force.