WILLIAM GRASON, ESQUIRE, GOVERNOR.

1839.

rials, rights, privileges and effects whatsoever; and to
make and repair, or cause to be made and repaired, all
such steam boats, roads, wharves, buildings, boats, ves-
sels, carriages and conveniences, as they shall deem ne-
cessary for effecting the objects of the company; and the
same or any part thereof to sell or otherwise dispose of,
when in their judgment it will be to the interest of the
company; and that they prescribe the mode of conduct-
ing the elections of said company, the manner and evi-
dence of transfers of stocks, the condition of forfeiture
thereof; and are hereby empowered to pass all by-laws
and resolutions requisite for the welfare of the company,

CHAP. 328.

provided such by-laws and resolutions shall not be con-
trary to the laws of the United Stales or the laws of the
State of Maryland, or inconsistent with the provisions of

this charter; to determine the manner of employment, to

to establish the route or routes, hours of starting, price of
passages, fare, transportation of freights, and all other

emoluments to be derived from the business of said com-

pany, in the best manner for the interest and advantage, of
all the parties concerned; that the said board of directors
shall keep a correct record of their proceedings, which
shall be subject to the inspection of the majority of the
stock duly represented.

Proviso.

To keep record
of proceedings.

SEC. 6. And be it enacted, That the president and di-
rectors shall declare dividends of the profits realized, if
any, by the company, or on so much thereof from time to
time, as a majority of them shall deem expedient.
SEC. 7. And be it enacted, That the shares of the stock
aforesaid may be transferred by the owners thereof, their
executors, administrators or attorneys duly and lawfully
authorised, in a book to be provided for that purpose, and
in such manner as the directors shall direct.

Dividends.

Shares trans-
ferrable.

SEC. 8. And be it enacted, That all the joint stock,
property, money and effects of said company, shall be
answerable for all contracts made by or for the said com-
pany, and for all just claims against the same; and the
service of legal process on any one of the directors shall
be considered as sufficient service on the corporation; the
stockholders not to be answerable in person or property
for any contract, debt or claim against the said corpora-
tion; that only the joint stock funds and assets of said
company to be liable for the debts and claims due by the
corporation.

Liabilities.

Service of pro-

cess.

Stockholders
not liable, &c.

SEC. 9. And be it enacted, That nothing in this act
shall be construed to authorise said company to obtain

Use of wharves.