WILLIAM GRASON, ESQUIRE, GOVERNOR.

1838.

Crout, Col. James M. Shellman, Nicholas Kelly. Dr.
Wm. Willis, A. F. Shriver, Isaac Van Bibber, Thos.
E. Van Bibber, Nathaniel H. Thayer, Col. Thomas
Hook, C. W. Webster. James Raymond. Jacob Grove,
Horatio Price, James Keefer, Samuel Orendorf, Jacob
Reese, S. D. Lacompte, George Webster, John S.
Baurgelt, and all others who may become subscribers
and stockholders in virtue of this act, and their suc-
cessors and assigns, be, and they are hereby created
a corporation, and body politic, by the name and style

CHAP. 283.

of the Carroll County Lyceum: and by that name shall
have perpetual succession, and shall be able and capa-
ble in law, to sue and be sued, implead and be implead-
ed, answer and be answered, in any court of law or
equity; and to make and use a common seal, and the
same to change and alter at pleasure, and to ordain and
establish such by-laws and regulations, not contrary
to law, as shall be necessary or convenient for conduct-
ing the affairs of the corporation.

Name and style.

Sec. 2. And be it enacted, That the design of this
corporation is declared to be the promotion of Litera-
ture and the encouragement of the arts and sciences, by
providing a library, reading rooms, and lecture rooms,
and otherwise; the capital stock thereof, shall not ex-
ceed in the whole two thousand shares, to be divided
into shares of two dollars each, and the said corpora-
tion shall be able and competent in law to purchase,
receive and hold estates in fee simple, or any less es-
tate, and personal property; provided, that the clear
annual income of all their property shall not exceed
three thousand dollars, and that two hundred and fifty
shares shall be subscribed before the first election of
directors.

Objects defined.

Capital $2, 000.

Limit $3, 000.

Sec. 5. And be it enacted, That a. subscription book
be opened for subscribers to the said stock, at such
time and place, and by such commissioners, as may be
directed by a majority of the persons named in the
first section of this act, who are hereby authorised to
conduct the affairs of the corporation until the first

Open book.

election of directors, and that fifty cents on each share
be paid at the time of subscribing, and the balance by
instalments, not exceeding fifty cents, at intervals of
thirty days.

37

First payment.

Instalments.