1832.

LAWS OF MARYLAND.

CHAP.36.

if subscriptions to the amount of one half or more of the
capital be taken, then the said company shall be authorized
to go into operation, and the books may be re-opened for
the completion of said capital, at the pleasure of said

Commissioners,

company upon the same terms and conditions as are pre-
scribed to the commissioners in talcing subscriptions.
Sec. 2. And be it enacted, That the said commissioners

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shall give not less than two weeks notice of the time and
place of opening said subscriptions in all the daily news-
papers of said city, and that c ach subscriber at the time of
subscribing shall pay into the hands of said commissioners

Payments on sub-

scribing

shall subscribe, to be paid over by said commissioners to
the President and Directors of said company, and that the

Instaalments.

further sum of forty-nine dollars shall be paid to the Pre-
sident and Directors of said company in instalments not
exceeding five dollars, at such time as said President and
Directors may appoint; Provided always, that thirty days
notice thereof shall be first given in said newspapers.

First election of

officers

Sec. 3. And be it enacted, That as soon as stock not
less in amount than one half of said capital shall be sub-
scribed, notice thereof shall be given in the said newspa-
pers of the said city, and that in two weeks thereafter an
election shall be held for officers of said company, at a
time and place in said city to be particularly stated; which
election the said commissioners shall hold and the officers
then chosen shall be capable of serving as such until the
election of officers as herein provided.

Appointment of

Stock

Sec. 4. And be it enacted, That it shall be lawful for any
person or body politic in person or by attorney, to sub-
scribe for. said stock; and in case the amount of subscrip-
tions shall exceed the number of shares into which the said
capital stock is divided, the excess then created shall be
reduced to said number by apportioning the shares sub-
scribed among the several subscribers, by proportional re-
duction, as may reduce the whole to the number allotted.

Corporate powers

granted

Sec. 5. And be it enacted, That all such persons as
shall become subscribers in said company, their succes-
sors and assigns, shall be, and are hereby created and
made a corporation and body politic, by the name and
style of the President and Directors of the Chatsworth
Water Company of Baltimore, and by that name are here-
by made able arid capable in law to have, purchase, receive,
possess, enjoy and retain to them and their successors, all
such lands, tenements, hereditaments, goods, chatties and
effects, of what kind, nature, and quality soever, as may