1843.

FRANCIS THOMAS, ESQUIRE, GOVERNOR.

chap. 274.

First election
to take place
when and at
the place de-
signated &c.

Sec. 7. And be it enacted, That the first election for
president and directors of said company, shall be held at
such place and hour, and on such day, as any three of
the persons named in the first section of this act, may
appoint by public notice in two or more of the daily pa-
pers published in the city of Baltimore, giving at least ten
days notice thereof, and said first election shall be con-
ducted and regulated by two disinterested persons, to be
appointed in writing, ten days before such election, by
any three of the persons named in the first section of this
act.

Three first na-
med persons
to receive sub-
scriptions.
Provisoes.

Sec. 8. And be it enacted, That any of the three
persons named in the first section of this act, shall be, and
they are hereby authorized to receive subscriptions for
the capital stock aforesaid; provided however, that not less
than ten dollars on each share of said stock, shall be
paid in cash, at the time of making such subscription;
the balance due thereon shall be paid at such time and in
such instalments as the said president and directors may
require, after giving at least thirty days notice of such
demand, in two or more daily papers of the city of Balti-
more, or by actual notice in writing to each of said stock-
holders; and provided also, that not more than fifty dollars,
on each share of stock shall be called for, previous to the
first day of April eighteen hundred and forty-five; and in
case any stockholder shall refuse or neglect to pay any
such instalment, after due notice aforesaid, for the space
of ninety days after the time limited for the payment of
the same, his or her stock, or so much thereof as he or
she may not have paid the required instalment upon,
shall be, and the same is hereby declared to be, forfeited
for the use of the said company.

Issues forbid.

Sec. 9. And be it enacted, That nothing in this act con-
tained, shall be taken or construed to authorize said com-
pany, or the president and directors thereof, to issue any
note, certificate or other evidence of debt, to be used as
money or currency; or to confer upon it, or them, any
banking powers or privileges whatsoever.

Right reser-
ved.

Sec 10. And be it enacted, That the state hereby re-
serves the right to tax the property of this corporation
and to amend or repeal this charter at any time hereafter.

CHAPTER 274.

Passed March
8, 1844.

Authorised to
collect.

An act to authorize William O'Chappell, acting Adminis-
trator of Henry Lilly, late Sheriff and Collector of
Montgomery county, to complete his collections.
Be it enacted by the General Assembly of Maryland,
That from and after the passage of this act, that William