1844.

THOMAS G. PRATT, ESQUIRE, GOVERNOR.

CHAP. 83.

Corporate
powers.

of the shot works in Eutaw street, and their assigns and
successors, are hereby made, constituted and declared to
be a body corporate and politic, by the name of the Mer-
chants Shot Tower Company of Baltimore, and as such
by that name, may sue, and be sued, implead and be im-
pleaded, answer and be answered, in any court of law or
equity, and shall be able and capable to make and use a com-
mon seal, and the same to change and alter at pleasure, al-
so to have and use, exercise and enjoy, as a corporate body,
all the powers, rights and privileges, proper and necessa-
ry for the purpose of manufacturing bullets, shot, balls,
lead paints and articles of which lead may be a compo-
nent part, and of vending the same, and for the aforesaid
purpose, to purchase, hold and use estate, real, personal
and mixed, and to construct such buildings and improve-
ments on their land as may be deemed necessary, and the
said estate, or any part thereof to sell and convey, or oth-
erwise dispose of, and generally to do all such acts, and to
ordain, establish and enforce all such by-laws and regula-
tions, as shall be necessary and proper for conducting the
business of sad corporation, the same not being contrary

Stock to be
divided into
shares of $25-
000 each.

Stock deemed
personal es-
tate.

to law or the provisions of this act.
SEC. 2. And be it enacted, That the capital stock of
said company shall be divided into shares of twenty-five
dollars each, and shall at no time exceed two thousand
shares, and every person who shall be the proprietor of
one share or more of said slock, shall in virtue thereof be
a member of said corporation, and as such, entitled at all
elections, and at all meetings of the stockholders, to one
vote in person or by proxy, for each and every share of
said capital stock, which shall be held by such person,
and the said capital stock, may in whole or part, consist
of, and be vested in land, buildings, machinery, tools and
materials, necessary or useful for promoting the object, or
carrying on the business of said corporation, and the
shares of said capital stock shall be deemed personal es-
tate, and be assignable and transferable only on the books
of the corporation and in such manner as shall be provi-

Stockholders
to elect direc-
tors, &c.

ded by the by laws.
SEC. 3. And be it enacted, That to conduct the affairs
and to continue the succession of the said company, the
stockholders of said company, shall on the eleventh day
of December, in the year eighteen hundred and forty-five,
and annually thereafter on the same day, or on such other
as may be prescribed by the by-laws of said company,
elect by ballot from amongst said stockholders, seven di-
rectors of said company, who shall or may hold the said
office of director, until a new election of directors under
this act, and the said directors, so elected, shall forthwith,