JAMES THOMAS, ESQUIRE, GOVERNOR.

1832.

the same, or any part thereof, and all articles manufactured
under their discretion, to sell or otherwise dispose of; to
call for monthly or other instalments, from time to time of
the capital stock subscribed, not exceeding ten dollars on
each share per month, nor on less than thirty days notice;
to apply the said instalments when received, and all other
funds of the company, to effect the objects aforesaid; and

CHAP. 201.

in payment of the necessary expenses oi the company; to
provide for declaring and paying to the stockholders, divi-
dends of the profits which shall be made by the said com-
pany; to prescribe and provide for the manner and evidence

Dividends.

of transfers of the capital stock; to provide for enforcing
payment of the capital stock, and for the forfeiture and
sale of any share or shares thereof, in default of payment
of any of the instalments called for, and for the remission

Enforcing pay-

ment

of such forfeiture on such terms as they shall deem
reasonable; and generally to do, execute or authorise, all
such acts, deeds and other writings, and make, revise, al-
ter, or annul, all such by-laws, ordinances, resolutions,
rules and regulations, not inconsistent with the laws of this
state, or of the United States, as the said board of direc-
tors, or a majority thereof, may deem necessary, useful
or convenient, and which shall be competent to the full
and beneficial exercise of, and carrying into effect the pow-
ers above enumerated, and all other powers, rights and pri-
vileges, granted to, and Tested in the Toulon company,
incorporated as aforesaid, or in the directors thereof, by
this act; and in general, for the better managing and con-
ducting the business, and promoting the interests of the
said company, and for improving the natural and lawful
advantages of the property, rights and privileges vested

manner as any corporate body within this state may lawful-
ly do.

General powers.

Sec. 6. And be it enacted, That the Directors of the said
Company, shall be and they are hereby authorized, at any
time hereafter, by and with the consent of the Mayor and
City Council of Baltimore, to connect with the said City,
any of the streets, wharves, and other improvements, that
shall be made by the said Company, in such manner and
on such terms as shall be mutually agreed upon by the said
Mayor and City Council, and the Board of Directors of the
Company hereby created.

May connect with

city improvements

Sec. 7. And be it enacted, That the shares of stock of
said Company shall be deemed and considered personal
estate, and all the joint stock, property, funds, and effects

Stock personal
property