1834.

LAWS OF MARYLAND.

CHAP. 152

subscriptions to the capital stock of said Company, after
having given such notice of the times and places of open-
ing the same, for three weeks, in one newspaper in Cum-
berland, Washington, and Baltimore cities

Sec. 7 And be it enacted, That upon every subscription
there shall be paid, at the time of subscribing, to the said
President and Directors, or to their agents, appointed to
receive such subscriptions, the sum oi ten dollars on each
share subscribed, and the residue thereof, shall be paid, in
such instalments, and at such times, as it may be required
by the President and directors of said Company, after one
month's notice as aforesaid, and if any subscriber shall fail
or neglect to pay any instalment or part of said subscrip-
tion, thus demanded, for the space of sixty days next after
the time the same shall be due and payable, the stock, on
which it is demanded, shall be forfeited to the Company,
and may be sold by the President and Directors, for the
benefit of the Company.

Annual meeting-

accounts divi-

dends

Sec 8 And be it enacted, That the President and Di-
rectors of the said Company shall meet at the works, on the
first Monday of June, annually, when clear and distinct
statements of the affairs of the said Company shall be made,
for the satisfaction of the stockholders, and to declare and
make such dividends on the stock, as they think proper, of
the nett profits arising from the resources of said Company,
after deducting the necessary current and probable contin-
gent expenses, and that they shall divide the same amongst
the proprietors of the stock of the said Company, in pro-
per proportions of their respective shares, and cause such
natice of such dividends to be published for three weeks in
one newspaper in the town of Cumberland, Washington
and Baltimore cities.

Sec. 9. And be it enacted, That all the rights, privileges,
and immunities, granted to the Savage Coal and Iron Com-
pany, shall continue in full force and virtue until the year
eighteen hundred and sixty, and to the end of the General
Assembly which shall happen thereafter

Rights reserved

Sec. 10. And be it enacted, That nothing in this act con-
tamed shall be construed to restrict the right of the Legis-
lature, which is hereby reserved to its fullest extent, to im-
pose, from time to time, and at all times hereafter, and levy
such tax, by license or otherwise, upon all property, estate,
and funds, in which the capital stock of said Company,
hereby incorporated, shall be invested, in common with