A. W. BRADFORD, ESQUIRE, GOVERNOR.

to be used and invested as capital for the purposes
hereinbefore described.

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Sec. 8. And be it enacted, That certificates under
the seal of the company, shall be issued to each of
the stockholders of the company, for so many
shares of the capital stock, from time to time, as
shall be equal to the amount actually paid by him,
or to which he may be entitled, and such stock-
holders may sell or transfer (except as hereinbefore
provided) any share or shares of stock for which
he may have obtained a certificate, every person
who shall become the owner of one or more of said
shares of stock by purchase and transfer, or by de-
vise or operation of law, shall thereupon become a
stockholder in, and a member of the Elkton Gas
Light Company, aforesaid, within the intent and
meaning of this act, and any person who shall be
divested by sale and transfer or by operation of
law of all his stock in said company, shall there-
upon cease to be a stockholder, and the said shares
of stock shall be as to all legal purposes, consider-
ed as personal estate, and shall be asssignable by
transfer, and the certificates therefore, renewable
in case of loss, in such manner and in such cases,
and under such restrictions as the by-laws to —
made by the Directors, may provide.

Certificates
to be issued.

Sec. 9. And be it enacted, That all and singu-
lar, the rights, permissions, powers and privileges
granted to John W. Baker and Lucius U. Maltby,
of the city of Baltimore, by an ordinance of the
President and Board of Town Commissioners, of
the town of Elkton, passed on the seventeenth day
of March, eighteen hundred and sixty-three, enti-
tled, an ordinance to allow John W. Baker & Co.,
to lay gas pipes through the streets of the town of
Elkton, are hereby vested in and confirmed to the
Elkton Gas Light Company, as incorporated by
this act, and the said company hereby incorpo-
rated, shall be authorized, entitled and bound to
do and perform all acts, and subject to all restric-
tions and penalties authorized and permitted, re-
quired and imposed by the said ordinance, as full
to all intents and purposes, as if said company
had been incorporated before and at the time of
passing the said ordinance.

Privileges
granted.

Sec. 10. And be it enacted, That all the proper-
ty, estate and joint stock of said company, shall be

27

Property
bound for lia-
bilities.