WILLIAM GRASON, ESQUIRE, GOVERNOR.

1838.

of steamboats between the city of Annapolis and Bal-
timore, and the Eastern Shore of Maryland, and of
transporting in steamboats, passengers and every dis-
cription of freight to and from the said cities, to and
from the various landings along the shores of Chesa-
peake bay, within this State; the capital stock of the
said company shall not exceed fifty thousand dollars,
nor shall it hold real estate except by mortgage, taken
bona fide to secure debts, contracted with said com-
pany in the exercise of its legitimate powers.

CHAP. 83.

Purposes defined.

Capital $50, 000.

Sec. 2. And be it enacted, That the persons herein
above incorporated, or a majority of them, assembled,
due notice having been given to the rest of the com-
pany of the designs, the time an, d place of meeting,

may make such regulations as may be suited to the

purposes of their corporation, designate the officers of
said company and choose their officers, divide their
capital into suitable shares, and provide for taking
subscriptions of stock, and provide in every other
proper manner for the government of said company.

General powers

granted.

Sec. 3. And be it enacted, That no member of said
company shall be answerable in his person, or individual
property, for any contract or engagement of said com-
pany, or for any losses or failures of the capital stock
thereof, but its capital stock and all its property,
credits and rights shall at all times be answerable for
demands against it; that the persons herein incorpo-
rated shall be, and are hereby made capable, by the
name of the Chesapeake Steam Packet Company, to
sue and be sued in any court of record, or any other
place, to have a common seal and alter it at pleasure,
nevertheless it shall be lawful for the General Assem-
bly of Maryland to incorporate any other company for
similar, or the same purposes as are had in view by this
company, and it shall be lawful for any and every in-
dividual to engage in the same, or similar business, as
that for which this company is formed

No individual res-

ponsibilities.

Legal capacities.

Rights reserved.

Sec. 4. And be it enacted, That the General Assem-
bly hereby reserves the right to repeal, alter or amend
this charter at any time hereafter, whenever it may be
deemed expedient.

Right to repeal, &c.

reserved.