1860.

LAWS OF MARYLAND.

CHAP. 259.

the advantageous use of said railway; and to hold
and employ the said railway and appurtenances as
part of the assets and property of the said com-

Proviso.

pany; Provided, the said railway be so constructed
and used as not to endanger, or injuriously inter-
fere with the ordinary use of, and travel upon the
said turnpike road.

Capital stock.

SEC. 2. And be it enacted, That if the said
company shall avail itself of the privileges and
powers conferred in the first section, then the capi-
tal stock of said company, now consisting of thir-
teen thousand nine hundred fifty shares of twenty
dollars each, shall hereafter consist of thirty thou-
sand shares of five dollars each, of which thirteen
thousand nine hundred and fifty shares shall be-
long to and be distributed among the stockholders,
share for share as the converted stock was held by
them; and that the remaining sixteen thousand
and fifty shares may subscribed for by said stock-
holders, in a book which shall be opened at the
office of said company, after giving twenty days
notice thereof in two daily newspapers of the said
city, and which shall remain open during office-
hours for thirty days; should the subscription ex-
ceed the said number of sixteen thousand and fifty
shares, they shall be distributed among the sub-
scribers according to the number of shares held by
them respectively; should any shares remain un-
subscribed, the said president, directors and mana-
gers may subscribe for the same, and may there-
after offer them for general subscription, or may
sell or otherwise dispose of them for the benefit of
the said city.

Instalments.

SEC. 3. And be it enacted, That the sum of one
dollar be paid on each share of stock, at the time
of subscribing, and that the remaining four dollars
a share be paid at such times and place as the said
president, directors and managers may direct by
twenty days notice in two daily newspapers of said

Proviso.

city; Provided, there shall not more than two
dollars be called for at any one time, and that there
be at least sixty days interval between the calls,
and a failure to pay any instalment agreeable to
the call shall create forfeiture to the company of
the stock of any delinquent, or he may be sued for
the same as the president, directors and managers
may deem best.