DANIEL MARTIN, ESQUIRE, GOVERNOR.

such valuation the jury is hereby directed to describe and as-
certain the bounds of the land by them valued, and the quan-
tity and duration of the interest and estate in the same ac-
quired by the said company, for its use; and their valuati-
on shall be conclusive on all persons, and shall be paid
for by the president and directors to the owner of the
land, or his legal representatives, and on payment there-
of, the said company shall be seized of such land as of an ab-
solute estate in perpetuity, or with such less quantity and du-
ration of interest or estate in the same, or subject to such par-
tial or temporary appropriation, use or occupation, as shall
be acquired and described as aforesaid, as if conveyed by
the owner to them.

1828

CHAP. 180.

CHAP. CLXXXI.

An Act to Incorporate the Commercial Exchange Com-
pany of Baltimore.

Passed Mar 12, 1829
Books to be open-

ed for subscrip-

tions

Sec. 1. Be it enacted by the General Assembly of Ma-
ryland, That William Patterson, John S. Donnell, Alex-
ander Brown, Henry Thompson, and R. L. Colt, be and
they are hereby appointed commissioners to receive sub-
scriptions to the capital stock of the Commercial Exchange
Company of Baltimore, to the amount of one hundred
thousand dollars, in shares of one hundred dollars each,
and the said commissioners, or any three of them, after
giving at least ten days notice by advertisement in two
newspapers in the city of Baltimore, of the time which
they shall appoint for the purpose, shall attend at the ex-
change in the said city, and receive in a book to be provid-
ed and properly prepared by them, subscriptions from any
individuals or bodies corporate, in person, or by agent, to
the said capital stock; and the said commissioners shall con-
tinue the said subscription book open for at least one day,
from 10 o'clock A. M. until 2 o'clock P. M. and may con-
tinue the same open during the same hours, two or more
days, if they shall deem proper; and if it shall appear, on
closing the subscription, that more than one thousand shares
have been subscribed, the said commissioners shall, by re-
ducing the highest subscription, and by allotment, as to them
shall appear just, reduce the number of shares of stock to one
thousand, and apportion them among the subscribers; and
each subscriber shall pay to the said commissioners one
dollar on each share at the time of subscribing.

Sec. 2. And be it enacted, That as soon as the said sub-
cription of stock shall be closed, and the shares of stock,
if necessary, apportioned, and the result certified by a ma-
jority of the commissioners above named, the persons and
27

Persons incorpo-
rated