1836

LAWS OF MARYLAND.

CHAP. 158.

Passed Mar. 9,
1837.

CHAPTER 158.

An act to incorporate a Company to make a Turnpike
Road from the Town of Cumberland to the Pennsylva-
nia Line, so as to intersect the Turnpike Road from
Bedford, in the direction of Cumberland.

to open books

SECTION 1. Be it enacted by the General Assembly of
Maryland. That John Folck, Henry Smouse, Henry
Broatmarkle, John Rico. Moor K. Falls, Gewgr Eob-
litzell, Doctor Samuel F. Smith. Gustavus Beall,
Thomas J. McKaig and Joseph Shriver, be and they

books to be opened at such time and places as they
may deem advisable, for the purpose of receiving sub-
scriptions to the capital stock of the company, to be in-

Notice required

corporated by the provisions of this act. notice having
been given as the said commissioners may deem expe-
dient, of the time and place of opening said books, and
continue the same open from time to time so long and
as often as they may find necessary to complete such
subscriptions.

Capital $40,000

SEC. 2. And be it enacted, That the capital stock of
said company shall be forty thousand dollars, in
shares of twenty-five dollars each, and all individuals

Authority to
subscribe

and bodies politic and corporate, are hereby authorised
and empowered to subscribe for such amount of said

Case of excesi

stock as they may think proper; provided nevertheless,
that if the subscription shall exceed the amount requir-
ed and authorised by this act, the commissioners shall

Payment on
subscribing

portionment of the stock among the subscribers; a«d
provided also, that at the time of making the subscrip-
tion to the said capilal stock, there shall be paid to the
said commissioners upon such shares the sum of one

paid at such time, and in such manner as may be pre-
scribed by the president and directors of the company,
to be by this act incorporated.

Prerequisite

SEC. 5. And be it enacted, That whenever six hun-
hundred shares of the said stock shall be subscribed,
then the said subscribers shall be declared to be incor-

Corporate pow-
ers granted

porated and made a body politic and corporate, by the
name of the Cumberland and Bedford Turnpike Road
Company, and by the aforesaid name to have perpetu-