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Passed Decem-
ber 25, 1810.
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An ACT to incorporate the President and Directors of the Athenian
Society.
WHEREAS it is represented to this general assembly, that certain persons have formed an as-
sociation in the city of Baltimore, for the purpose of promoting useful arts, and encouraging
domestic manufactures, and have, by their subscriptions, raised a capital, and employed the same in
pursuance thereof; and the president and directors of said association having petitioned this general
assembly for an act of incorporation, with the view of advancing their laudable objects, and consi-
dering the prayer of the petitioners reasonable; therefore,
II. BE IT ENACTED, by the General Assembly of Maryland, That Isaac Burnistur, William W. Taylor,
Jesse Slingluff, Thomas Sheppard, Joseph Townsend, Luke Tiernan, William M'Donald, Aaron
R. Levering, together with all the stockholders, and all such persons as may become stockholders,
in said association, be and are hereby created and declared a body corporate and politic, by the name
and style of The President and Directors of the Athenian Society, and by that name and style shall
have succession during the continuance of this incorporation, and. be able to sue and be sued, im-
plead and be impleaded, in any court of law or equity, and to make, have and use, one common,
seal, and the same to change and alter as they shall think fit, and to ordain and establish such by-
laws and regulations as shall appear necessary for conducting the concerns of said society, not being
contrary to this act or the constitution and laws of the United States.
III. AND BE IT ENACTED, That the objects of this association are for establishing a depot or
ware-rooms for the reception and sale of American manufactures of every denomination, and if re-
quired, of advancing in money to the actual manufacturer thereof, and no other person, a certain pro-
portion of the value of what he deposits; of conducting the same in such a manner as the manufac-
turer may at all times find a ready, safe and advantageous vent for the produce of his industry and
ingenuity, and that the patriotic individual, who prefers American manufactures to foreign, may at
all times find a ready, constant and cheap supply, at a. regular fixed price, and for promoting and
encouraging all the useful arts.
IV. AND BE IT ENACTED, That the capital stock of said company shall be fifty thousand dollars,
money of the United States, to consist of five thousand shares of ten dollars each, ten thousand dol-
lars of said stock shall be reserved until the legislature may incorporate the company, and may be
subscribed for by the state, if desired by the legislature thereof, and so much of said stock as remains
now unsubscribed for, may be disposed of for the purposes above mentioned by the president and di-
rectors for the time being, in such manner, and in such proportions, as the stockholders may, at
their annual meetings, from time to, time determine.
V. AND BE IT ENACTED, That there shall be a general meeting of the stockholders of said so-
ciety on the first Monday in February in every year, at such place in the city of Baltimore, for the
purpose of choosing directors, as the president and directors for the time being shall appoint.
VI. AND BE IT ENACTED, That the concerns of said society shall be managed, under the restric-
tions herein after mentioned, by seven directors, to be chosen by the stockholders, by ballot, at their
annual general meeting aforesaid, and by a president, elected as herein after provided, who shall
continue. to serve until a successor be chosen; the present president and directors shall hold their
offices until a new election on the first Monday in February, eighteen hundred and eleven.
VII. AND BE IT ENACTED, That in the choice of directors, as in all other cases, the number
of votes to which each stockholder shall be entitled, shall be in proportion to the stock be may
hold, as follows, viz. For one share and not more than two, one vote; for each share above
two and not exceeding ten, one vote; for every four shares above ten and not exceeding thirty,
one vote; for every six shares above thirty and not exceeding sixty, one vote; for every eight
shares above sixty, one vote; but no person, co-partnership or body politic or corporate, shall
be entitled to a greater number than twenty-four votes; no share or shares shall confer a right of
suffrage which shall not have been held four calendar months previous to the day of election, except
at the first election; all stockholders actually resident of the United States, and citizens thereof,
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