1837.

LAWS OF MARYLAND.

CHAP. 218.

Corporate pow-
ers.

able and capable to sue and be sued, plead or be im-
pleaded in any court of Jaw or equity, and may also
have, use, exercise and enjoy all the powers, privileges
and rights, proper and necessary for carrying on the

Purposes defin-
ed.

manufacture of iron, and of articles of which iron is
a component part, and for opening, working, transport-
ing to market and vending the produce of their lands,
mines and manufactories, and shall have power to

Estate — con-
tracts.

take, purchase and hold all such property real person-
al or mixed, as they may require for the purposes afore-
said, and shall have power to make and enter into all
manner of contracts in relation to the business and

Limitation.

property aforesaid, provided, that the said company
shall at no time hold or possess in this State more then
the thousand acres of land, exclusive of the quantity
which may he occupied as the bed of any road or roads
which it may be found necessary to construct, and may
for the purposes aforesaid have and exercise, except

Bye laws.

as restricted by this act. the right to make bye-laws,
rules and regulations, and all the rights, privileges and
powers necessary to the objects of this act, and to the
use. control and disposition of the property acquired by

them, and not repugnant to any law of this State or
of the United States.

Capital $500,-
000,

SEC. 2. And be it enacted, That the capital stock
of said company shall consist of five thousand shares
of one hundred dollars each, of which the lands and

Lewis Howell's
land.

mines of the said Louis Howell, in Allegany county,
shall constitute a part at such price as may be agreed
upon between him or the one part, and those who
may associate with him and constitute the aforesaid
corporation, by subscriptions for stock payable in mo-
ney, on the other part, which price and agreement shall
be signified by the subscription by the said Louis How-
ell to the stock of the said company, of the said lands
at the price so agreed, and by the conveyance of the
same to the said corporation, and by the subscription

Payments in

money.

thereafter payable in money of such other persons as
may associate with him and constitute the said corpor-
ation, to an amount .sufficient to make up and complete
the entire subscription of five thousand shares of one
hundred dollars each, and the president and directors
of the said company shall have power, from time to