1844.

THOMAS G. PRATT, ESQUIRE, GOVERNOR

CHAP. 220.

New York Mining Company, for the purpose of pur-
chasing, opening and working mines of coal and iron,
and for the manufacture of iron, and of all articles of which
iron is a component part, and for the vending of the pro-
ducts of the same, and as such corporation shall have a
common seal, and shall be empowered to sue and be
sued, plead and be impleaded, in any court of law or
equity.

Power to hold
property.

Provisoes.

SEC. 2. And be it enacted,. That said corporation shall
have the power to hold and possess real and personal es-
tate to the amount of five hundred thousand dollars, for
the purposes aforesaid; provided, that said corporation
shall at no time hold or possess in this State, more than
five thousand acres of land exclusive of such lands as may
be used for the purpose of a road or roads, and said cor-
poration shall have the right to make by-laws and all
other such rules and regulations as may be necessary for
the proper management of its concerns; provided, the
same are not repugnant to the laws of this State, or of
the United States.

Capital stock
$500, 000.

SEC. 3. And be it enacted, That the capital stock of
said corporation, whether the same be real or personal, or
both, shall amount to the sum of five hundred thousand
dollars, which shall be divided into shares of one hundred
dollars each, and said corporation shall hare power to

Proviso,

increase said capital stock, if they should think it advisa-
ble so to do; provided, said capital slock shall not be in-
creased so as to exceed at any time the sum of one million
of dollars, which additional stock shall be divided into
shares as aforesaid, and the lands and mines of the said
Oroondates Mauran, Barrett Ames, Robert B. Minturn,
Jonathan Sturges and Charles Denison, shall constitute a
part of said capital slock at such a price as may be agreed
upon between the said Mauran, Minturn, Sturges and
Denison, and the said corporation.

Authorised to
receive sub-
scriptions.

SEC. 4. And be it enacted, That the said Oroondates
Mauran, Barrett Ames, Robert B. Minturn, Jonathan
Sturges, Charles Denison and Samuel M. Semmes, or a
majority of them, shall be authorised to receive subscrip-
tions to the capital stock of said corporation, and shall
designate the times and places at which said subscrip-
tions shall be received; by giving notice in one or more
newspapers printed in the city of Baltimore, in this State,
and each subscriber shall pay at the time of subscribing
as aforesaid, the sum of twenty dollars, upon each and
every share so subscribed for, and shall by virtue thereof
be taken and considered, and thereby become a member
of said corporation, and at all meetings of the stockhold-