66

LAWS OF MARYLAND.

the said officers and directors so elected shall serve
for one year, and until their successors are chosen,
for which last purpose an election shall be held
on the first Monday in March, in each and every
year, during the continuance of this franchise, and
the said President and Directors may adopt, from
time to time, such by-laws, rules and regulations

Proviso.

as may be necessary for the government and con-
trol of the affairs of the said company; provided,
however, that such by-laws do not contravene the
laws of this State.

Stock sub-
scribed — how
paid.

Sec. 4. And be it enacted, That the stock sub-
scribed to the said company shall be paid in the
following manner, viz: one dollar per share at the
time of subscribing, and the remainder in such
sums per share and at such times and places as
the said President and Directors may prescribe.

Name and
style.

Sec. 5. And be it enacted, That the stockholders
in the said company be, and they are hereby in-
corporated aud constituted a body politic, by the
name and style of the "Woodsborough and Pipe
Creek Turnpike Company," and by that name
shall have succession during the continuance of
this corporation, and the same stockholders, and
their successors, by the name aforesaid, may sue
and be sued, answer and be answered unto, in any
Court of law or equity in this State, and may do
and execute any other matter and thing by the
name aforesaid that they are authorized to do in
virtue of this act.

May proceed
to turnpike
road.

Sec. 6. And be it enacted, That the said com-
pany thus organized may proceed to turnpike the
said road upon the line designated and prescribed
in the first section of this act, preserving the width
and depth of stone on the Woodsborough and
Monocacy turnpike road; and so soon as they shall
have constructed the said turnpike from the begin-
ning of the same at Woodsborough to the inter-
section of the road leading from Annan 's Mill to
the line of the contemplated road, being a distance
of about two and one-half miles, they are hereby
authorized to apply to the County Commissioners
of Frederick county for the appointment of three
persons, not stockholders in said company, as a
commission, to examine and receive the said turn-
pike road, and upon the report of the said commis-