1839.

LAWS OF MARYLAND.

CHAP. 308.

Name and style.

Subject to ge-
neral law.

Charles Coyle, Sebastian Ramsburg, Henry Cullen, John
Hann, and such other persons as may be hereafter asso-
ciated with them, shall be and they are hereby incorpora-
ted and made a body politic and corporate, under the
name and style of the Baltimore Resinous Cloth and Car-
pet Manufacturing Company, for the purpose of the manu-
facture of an improved kind of carpeting and any other
linen or cotton goods, and the prosecution of all such other
operations as may grow out of or be connected with the
said business; and the said corporation, under the name
and style aforesaid, is hereby invested with all the rights,
and privileges, and powers conferred upon such compa-
nies, by an act, entitled an act prescribing general regula-
tions for the incorporation of manufacturing and mining
companies, passed on the twenty-eighth day of March,
eighteen hundred and thirty-nine, and the said company is
hereby made subject to the restrictions and regulations
prescribed in such act.

Capital stock.

Shares $25.

May hold land.

SEC. 2. And be it enacted, That the capital stock in
said company shall not be less than two thousand dollars,
and not more than two hundred thousand, to be divi-
ded into shares of twenty-five dollars each, and raised by
subscription; and that the said company to hold land not
exceeding five acres, or personal property in Baltimore
city or its vicinity.

Privilege gran-
ted T. C. Coyle
of holding 20
shares at $1
each.

Limit.

SEC. 3. And be it enacted, Inasmuch as the aforesaid
Thomas C. Coyle is the inventor of one of the principal
ingredients intended to be employed in the said manufac-
ture, and also of the application of such material of the ma-
nufacture of such goods, and therefore is justly entitled to a
fair and reasonable compensation for the use of this patent
and invention, that the said Thomas C. Coyle shall have
the privilege of holding twenty full shares of said stock,
by paying therefor one dollar per share, and of increasing
the number from time to time, by paying the said price of
one dollar per share, so however that the interest of the
said Thomas C. Coyle, thus acquired, shall not at any time
exceed one-fourth part of all the capital subscribed and
actually paid in by the other stockholders.

In force.

SEC. 4. And be it enacted, That this act shall be in
force thirty years from the passage thereof.

Banking forbid.

Rights reserved.

SEC. 5. And be it enacted, That nothing herein con-
tained shall be so construed as to authorise, or empower
said corporation, to issue any note, certificate, token or evi-
dence of debt, to be used as currency; and the right is
hereby expressly reserved to the General Assembly of