558

LAWS OF MARYLAND.

the purpose of receiving subscriptions to said capi-
tal stock; and if any of the above named Commis-
sioners shall die, resign or refuse to act, another
or others may be appointed in his or their stead,
by a majority of the remaining Commissioners.

Incorporated.

Sec. 2. And be it enacted, That the subscribers
to said stock and their successors and assigns shall
be and they are hereby declared to be incorporated
into a Company, by the name of the Baltimore,
Hall's Springs and Harford Passenger Railway
Company, and by that name shall be capable in
law of purchasing, holding, selling and conveying
of property, real, personal and mixed, as far as
shall be necessary, for the purpose hereinafter
mentioned and no further; and shall have perpet-
ual succession, and by such corporate name may
sue and be sued, and may have and use a common
seal, which they shall have the power to alter or
renew at their pleasure, and shall have and enjoy
and may exercise all the rights, powers and priv-
ileges incident and necessary to the purpose of said
corporation as created by this act.

Subscriptions-
how paid.

Sec. 3. And be it enacted, That the subscription
to the capital stock of said Company shall be in
shares of twenty dollars each, to such an amount as
the Commissioners aforesaid, or a majority of them
may deem necessary, not exceeding twenty thou-
sand shares, and upon every subscription there
shall be paid at the time of subscribing to the said
Commissioners or their agents, the sum of two
dollars on every share subscribed, and the residue
thereof shall be paid in such instalments and at
such times as may be required by the President
and Directors of said Company; and if any sub-
scriber shall fail or neglect to pay any instalment
or part of said subscription thus demanded, for the
space of sixty days next after the time the same
shall be due and payable, the stock on which it is
demanded shall be forfeited to the Company and
may be sold by the said President and Directors
for the benefit of the Company, but the President
and Directors may remit any such forfeiture on
such terms as they shall deem proper.

Stock — how
voted.

Sec. 4. And be it enacted, That as soon as two
thousand shares of twenty dollars each of said cap-
ital stock shall have been subscribed, the said