1828

LAWS OF MARYLAND.

CHAP. 170.

dent and directors thereof, for the benefit of the said corpo-
ration; but the president and directors may remit such for-

Subscribers incor-

porated

Sec. 2. And be if enacted, That the persons whose names
shall be so inserted in the aforesaid subscription books,
their successors and assigns, shall be and they are hereby
created and constituted a body corporate, by the name and
style of The Maryland Mining Company, and as such shall
by that name have succession, and may sue and be sued,
in any court of law or equity in this state, and shall be ca-
pable to have and use a common seal, which they may al-
ter or renew at their pleasure, and to have, exercise and en-
joy, as a corporate body, the powers, rights and privileges,
proper and necessary, for the purpose of working coal, iron,
and other mines, in the stale of Maryland, and vending the
products thereof in their crude or manufactured state; with
power, for the aforesaid purposes, to purchase, hold and use,
estate, real, personal and mixed; and to construct such build-
ings and improvements on their land as may be deemed ne-
cessary; and the said estate, or any part thereof, to sell and
convey, or otherwise dispose of, and generally to do and
perform all such other acts in relation to the objects and bu-
siness of their incorporation, or that may be necessary to
the exercise of the rights, privileges and powers, granted to
the said company by this act, which any other corporate
body may do, the same not being repugnant to any law of
this state, or of the United States.

Captial

Sec. 3. And be it enacted, That the capital stock of the
said company shall be two hundred thousand dollars, and
be divided into shares of one hundred dollars each; and
every person who is or shall become a proprietor of one or
more shares ef the said stock, shall in virtue thereof be a
member of the said corporation, and shall be entitled, at all
meetings of the stockholders, to one vote in person or by
proxy, for each share of the capital stock which shall be
held by such person; and the said capital stock may, in
whole or part, consist and be vested in land, buildings, ma-
chinery, tools, vessels, carriages and materials, necessary or
useful for promoting or carrying on the objects and business
of the said corporation: and the shares oi the said capital
stock shall be assignable, transferable, and be considered as
personal property.

Powers of presi-

dent and directors

Sec. 4. And be it enacted, That the affairs of the said
company shall be managed by a president and eight direc-
tors, who shall be chosen as aforesaid to serve until others
shall be elected, as may be provided by the stockholders in
the by-laws of the said corporation; and the said president
and directors, and their successors, or a majority of them,
shall have full power and authority to appoint, employ, com-
pensate, and at their pleasure to remove, such officers, agents