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CHAP. 349
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laying out into streets, lots, squares and other di-
visions, any such lands at Annapolis Junction, or
adjoining, or near to, or in the vicinity thereof,
and erecting, constructing or making thereon build-
ings, and such improvements as may be found or
deemed advisable or necessary to give effect to the
objects and purposes of this act, and to appropriate
to public purposes, ornament, beautify and im-
prove any piece or parcel of land of the said lands,
in such manner as they may choose, and to sell,
rent, lease, convey, grant on condition, or other-
wise dispose of or use for building or agricultural
purposes any part, parcel or portion of the lands
so as aforesaid owned by them, or of the buildings
and improvements thereon erected, also to construct
from their improvements and buildings a horse
railroad, for the accommodation of passengers to
and from Annapolis Junction and Jessup's Cut.
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Powers vest-
ed.
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SEC. 5. And be it enacted, That the president
and directors of the said company, or a majority of
them, when met and acting as a board, shall have
full power and authority to attend to, transact or
execute the affairs and business of said company,
to contract, agree for, purchase rent or hire all such
lands, buildings, chattels, materials, roads, steam-
power, rights, bridges, privileges and effects what-
soever, as they shall find convenient or deem ne-
cessary for effecting the objects of the company, as
authorised by this act, call for monthly or other in-
stalments, from time to time, of the capital stock
subscribed, after giving public notice thereof of not
less than thirty days; to apply the funds so re-
ceived, and all other funds belonging to the com-
pany, to effect the object aforesaid; to provide for
declaring and paying the stockholders' dividends
of the profits arising from the operation of said
company; to prescribe and provide for the manner
and the evidence of transfers of the capital stock,
to enforce payment thereof, as also to prescribe the
conditions of forfeiture, in cases* of non-payment,
and to dispose of all or any such forfeited stock as
they, in their discretion, shall deem proper, and
generally to do, execute, or authorise to be done
and executed, all such acts, deeds, conveyances, or
other writings, and make, revise, alter 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 president and
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