1860.

LAWS OF MARYLAND.

CHAP. 327.

by their by-laws to regulate and determine the
prices for transportation of passengers, goods,
wares and merchandise, wagons, carriages, horses,
cattle, sheep and stock of every description, and all
other articles that shall be transported on the boat

Dividends.

or boats of said company; and the said directors
may from time to time declare dividends of such
part of the profits of said company, as they shall
deem advisable, and pay the same to the person or
persons entitled thereto.

Instalments.

SEC. 7. And be it enacted, That the said directors
may require all subscriptions to the capital stock of
this company to be paid in such instalments, and
at such times and places as they shall designate,
by giving notice of the time and place of such pay-
ments in some newspaper printed in the city of
Baltimore, and in some newspaper printed in Cecil
county, once a week for one month previous there-
to, and if any stockholder, whether original sub-
scriber or assignor of three months notice as afore-
said, shall neglect or refuse to pay such instalment
at the place appointed for the space of ten days af-
ter the said appointed time, the same may be for-
feited by and return to the said company, and may
be sold by the directors, or they may in the name
of the corporation, sue for and recover the sum or
sums so remaining unpaid, with costs and interest
thereon in the same manner that debts of a like
amount are now recoverable, and further that such
delinquent shall not daring the time that any of
the said instalments remain due and unpaid, be
entitled to vote at any meeting of the stockholders
or receive any dividend thereon.

Transfers of
stock to be
approved by
directors.

SEC. 8. And be it enacted, That no stock held
by the members of this company, shall be trans-
ferred, unless said transfer be first approved by the
directors, after which approval, the directors shall
cause said transfer to be entered on their books in.
such manner as their by-laws may direct, and prior
to making such transfer, the stockholder applying
for the same, must satisfy and pay all debts and
outstanding liabilities of every kind due from him
to said company.

Powers vest-

ed.

SEC. 9. And be it enacted, That the said com-
pany is hereby invested with all the powers neces-
sary for buying, building, chartering, constructing
or repairing any boat or boats propelled by steam