1832.

LAWS OF MARYLAND.

CHAP. 201.

fend, and be answered and defended, in all courts of law-
and equity, and may receive, and make all deeds, transfers,
covenants, conveyances, grants, contracts, agreements, and
bargains, whatsoever, necessary for the said purposes, and
may have and use a common seal, which they shall have
power to renew or alter at pleasure; and generally may
do every other act or thing necessary to cany into effect

Limitation of land

the provisions of this act, and promote the objects and de-
signs of said Company, as authorised by this act; Provid-
ed, that nothing herein contained shall authorise said com-
pany to hold more than two thousand acres of land at any
one time; and the authority to hold land shall not be so
construed as to authorise said company to hold or pur-
chase lands in any other part of this state except Baltimore
city and county.

Persons to receive

subscription

Sec. 2. And be it enacted, That the said Robert Oliver,
Lewin Wethered, Francis Neal, James Harwood, James
Ferguson, George Warner, Alexander Falls, David
Stewart, Andrew Ellicott, John B. Howell, Reverdy John-
sohn, Joseph King, jr., Hugh McElderry, James Biays,
William Denny, or a majority of them, may receive sub-

Capital stock.

scriptions from time to time to the capital stock of the said
company, in shares of one hundred dollars each, to any
amount not exceeding twenty thousand shares; and for the
purpose of obtaining any such subscription, they shall give

Public notice.

at least ten days public notice, by advertisements in two or
more newspapers in the city of Baltimore, of the time,
place, number of shares, and terms of subscription; and
every person or corporation, who shall become a holder, or
entitled to one or more shares of the said stock, shall
thereupon become a member of the Toulon Company
hereby incorporated; and every person or corporation, on
being divested of all shares of the said stock, by transfer
or otherwise, shall thereupon cease to be a member of said
company; and until the number of stockholders shall
amount to twenty, and an election of directors shall have
been made, is is hereinafter provided; the said Robert

Present directors

named

Oliver, Lewin Wethered, Francis Neal, James Harwood,
James Ferguson, George Warner, Alexander Falls, David
Stewart, Andrew Ellicott, John B. Howell, Reverdy John-
son, Joseph King, jr., Hugh McElderry, James Biays, Wil-
liam Denny, or a majority of them, shall exercise all the
corporate powers of the Toulon Company aforesaid, ex-
cept in the contracting for, or purchasing, any real estate,
in the same manner as the said directors, when elected, are
authorised to do by this charter.