THOMAS G. PRATT, ESQUIRE, GOVERNOR

1846.

shall constitute a part of said capital stock, at such prices
as may be agreed upon between them on the one part,
and such persons as may be hereafter associated with
them, and constitute the aforesaid corporation by sub-
scribing for stock payable in money.

CHAP. 137.

SEC. 6. And be it enacted, That the capital stock of
said company shall consist of five thousand shares of one
hundred dollars each, and no more, unless the company
shall purchase and hold other coal and iron lands contig-
uous, in order to add to, and increase the interest of said
company in the, premises, in which case the company
may enlarge the amount of their stock five thousand shares
for every thousand acres so added to the lands they row
hold, and no further addition shall be made to the amount
of this stock on account of any further purchase they may
make.

Capital stock
of five thou-
sand shares.

SEC. 7. And be it enacted, That any company here-
after formed, shall have the privilege of passing over
the lands of said Brant's iron and coal company so as to
connect any lateral rail road with the rail road or roads
of said Brant's iron and coal company, by paying to said
company such sum or sums as may be agreed upon, by
three disinterested persons appointed by the commission-
ers of the tax of Allegany county, to value said damage
or damages.

Connect any
lateral rail road.

SEC. 8. And be it enacted, That the management of
the company's business shall be vested in five directors,
who shall be stockholders and citizens of the United
States, any three of whom, the president being one, shall
be a quorum for business, or in case of his absence or
inability, such other director in his place as the board
shall direct; these directors shall be chosen at a legal
annual meeting of the company, holden for this and other
purposes; and they shall have the power to appoint their

Management
vested in five
directors.

president, who shall be one of their own number, holding
his office during their pleasure; and the board shall have
the power to establish all such rules and regulations, from
time to time, as they may find necessary in the course of

Appoint a pre-
sident.

their business; the first meeting of the company shall be
holden at Cumberland, on or before the first day of July
eighteen hundred and forty-six due notice of the time
and place of which meeting shall be given by John Brant,
first named in this charter, or any two other members,
personally in writing to each member of the company; a
quorum of the company for this meeting shall be a ma-
jority in amount of stock of all the stockholders, and this
shall be a quorum in all future meetings of the company

First meeting.