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objects of the company; and may have and use a common
seal, which they shall have power to renew at pleasure;
and generally to do every other act or thing necessary to
carry into, effect the provisions, objects and purposes of
this act.
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CHAP. 81.
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SEC. 2. And be it enacted by the authority aforesaid,
That the said John Donohoe, William W. Virdin, Matthew
Newkirk, William Slater and William A. Patterson, or
such one or more of them as they shall lor that purpose au-
thorise and appoint, may take and receive subscriptions to
the capital stock of said company in such manner and on
such terms as they, or a majority of them may designate or
chose, in shares of twenty-five dollars each, to any amount
which they may deem necessary and proper, not exceeding
eight thousand shares; and any person or persons who shall
become a holder or holders, or entitled to one or more
shares of the said stock, shall thereupon become a member,
of the Havre-de-Grace Real Estate and Manufacturing Com-
pany hereby incorporated; and every person or corporation
on being divested of all shares of the said stock by trans-
fer or otherwise, shall thereupon cease to he a member of
said company, and until one-fourth of the capital stock of
said company shall be subscribed for, and an election of of-
ficers shall have been made as is hereinafter provided, the
said John Donohoe, William W. Virdin, Matthew New-
kirk, William Slater and William A. Patterson, or a majo-
ity of them, shall have and may exercise all the corporate
rights and powers of the said company, as the directors of
the said company, when elected, are herein authorised and
empowered to do.
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Subscriptions
to the capital
stock.
Shares $25.
Stockholder to
be a member.
Temporary of-
ficers.
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SEC. 3. And be it enacted by the authority aforesaid, That
the members of said company, as soon as they shall have
subscribed for one-fourth of the capital stock of said com-
pany, as soon thereafter as they conveniently can, shall
meet at, such place as a majority of them shall determine
upon; of which time and place due public notice of at least
ten days shall be given; and a majority of the members who
shall attend the said meeting, either in person or by proxy,
shall elect from their members by ballot, a president and
directors, of such number as the said stockholders may de-
termine upon, not exceeding twelve, who shall manage the
affairs and transact the business of said company until the
first annual meeting hereinafter provided for, and until a
new election of officers shall have, been had in the manner
directed by the by-laws of said company as hereinafter
provided to be made; and the said stockholders may de-
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Meeting to e-
lect officers.
To give notice.
Their duties.
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