1834

LAWS OF MARYLAND.

CHAP. 152.

CHAPTER 152

Passed Mar. 7 1835

An act to Incorporate the Savage Coal and Iron Company

Preamble

WHEREAS, Robert Swan, James Swan, George M Swan,
John Brant, John Poland James Pans, James D Arm-
strong, and James Hammell, of Allegany county, being the
proprietors of certain lands in said county, on the waters of
the North Branch of the Potomac and Savage Rivers, con
taming large bodies of bituminous coal and iron ore, and are
desirous to engage in manufacturing of pigs, castings, and
bar iron, or any other manufacture, which they may deem
proper to connect therewith and they are desirous of in
creasing their capital stock for that purpose, also for the
purpose of promoting the exportation of bituminous coal —
Therefore,

Corporation crea

ted

Section 1 Be it enacted by the General Assembly of Ma-
ryland, That Robert Swan, James Swan, George M Swan,
John Brant, John Poland, James Pans, James D Armstrong,
and James Hammell, their associates, successors, and as-
signs, be, and they are hereby created a corporation and
body politic, by the name and style of The Savage Coal
and Iron Company, and by that name shall have perpetual
succession, and be able and capable, m law, to sue and be
sued, plead and be impleaded, answer and be answered, in
any court of law or equity, and to make and use a common
seal, and the same to alter and change at pleasure, to ordain
and establish such by laws and regulations as shall be ne-
cessary or convenient for conducting the affairs of the Cor-
poration, and not repugnant to law

Object

Sec 2 And be it enacted, That the objects of the said
corporation are declared to be, the manufacturing of iron,
and the carrying on any branch of manufacture connected
therewith, and for the raising and carrying to market bitu-
minous coal, and they are hereby authorised to purchase

Property

and hold land, in fee simple, or otherwise, not exceeding
fire thousand acres at any one time, and to erect thereon all
needful and convenient buildings, the capital stock of said
corporation to be, in the first instance, ten thousand dollars,
divided into two hundred shares, of fifty dollars each, but,
in the discretion of said corporation, may be increased to
fifty thousand dollars, divided into shares of fifty dollars

Stock

each, under such regulations as the by laws of the said
Corporation shall direct, and all the shares of stock that
shall, or may be held or owned by any member of the Cor
poration, shall be deemed to be personal property, and be