1840,

LAWS OF MARYLAND.

CHAP. 214.

Individuals in-
corporated.

ing and working and transportation of said minerals to mar-
ket — Therefore,
SECTION 1. Be it enacted by the General Assembly of
Maryland, That Charles M. Thruston and Thomas 1.
McKaig, and such other persons as may be associated with
them, hereafter in manner herein provided, shall be, and
they are hereby incorporated and made a body politic and

Name.

Legal capacity.

corporate, by the name of the Cumberland Coal and Iron
Company, and by that name shall have succession, and be
able and capable to sue and be sued, to plead and be im-
pleaded in any court of law and equity, and may have and
use a common seal, and the same to alter and renew at plea-
sure; and the said company shall have all the powers, pri-
vileges and rights necessary for carrying on the manufac-
ture of iron, and the mining of coal, and for transporting to
market the proceeds of their mines, lands and manufacto-

Hold property.

Limit of pro-
perty.

ries; and shall also have power to purchase and hold all
such property, real, personal and mixed, as they may re-
quire for the purposes aforesaid; provided, that the said
company shall at no time hold or possess more than five
thousand acres of land; and said company shall have pow-
er for the purposes aforesaid, to make such by-laws, rules
and regulations, as may be necessary, provided, they be not
repugnant to any law of this State, or of the United States,

Capital stock.

SEC. 2. And be it enacted, That the capital stock of the
said company shall consist of ten thousand shares of five
hundred dollars each, of which the lands and mines of the
said Charles M. Thruston and Thomas I. McKaig shall
constitute a part, at such price as may be agreed upon be-
tween them; the said Charles M. Thruston and Thomas I.
Kaig on the one part, and those who. may associate with
them, and constitute the aforesaid corporation, by subscrip-
tion for stock, payable in money, on the other part.

Subscriptions to
capital stock.

SEC. 3. And be it enacted, That the subscriptions to the
paid capital stock shall be made at such places, and in such
manner as shall be designated by the said Charles M. Thrus-
ton and Thomas I. McKaig, and that the share holders of
one or more shares of said stock, shall be a member of said
corporation, and shall be entitled at all meetings of the
stockholders, to one vote for each share so held, in person

Shared may be
transferred.

or by proxy, and the shares of said capital stock shall be
assignable or transferable as may be provided for by the
by-laws of the said company, and shall be considered as
personal property.

Officers.

SEC. 4. And be it enacted, That the affairs of the said
company shall be managed by a president and four direc-