1845.

LAWS OF MARYLAND.

CHAP. 56.

be impleaded, in any court of law or equity, and may
make purchases and contracts, and receive and take gifts,
grants or conveyances, and purchase, have and enjoy,
use, transfer, sell and convey such estate, real, personal
and mixed, as may be necessary, useful or proper for
carrying into successful operation and effect the objects

Proviso.

for which this act is granted; provided, said company
shall at no time hold more real estate than may be ne-
cessary or useful for their business as a transportation
company.

Capital 40, -
000 dollars.

SEC 2. And be it enacted, That the capital stock of
the said company shall be forty thousand dollars, in
shares of one hundred dollars each, which capital stock
may from time to time be increased to five thousand
shares, as the trade and business of the said company
may require.

Capital stock
to be subscri-
bed where the
commissioners
may direct.

SEC. 3. And be it enacted, That the capital stock of
said company may be subscribed at such time and place
as Duff Green, William Easby, J. D. Miller and La-
fayette Maynard, who are hereby appointed commission-
ers to open books of subscription, or a majority of them,
may designate, and the management and business of the
said company shall be conducted by five directors, to be
elected and governed by rules and regulations prescribed

Proviso.

by the shareholders in stockholders' meeting; provided,
that such rules and regulations shall not be inconsistent
with the constitution and laws of the United States, or
of this State.

May appoint
and remove
officers, &c.

SEC. 4. And be it enacted, That the president and di-
rectors of said company may appoint and remove such
officers and agents as may be necessary and proper for
the successful prosecution of their business.

Object of in-
corporation.

SEC. 5. And be it enacted, That the objects for which
this company is incorporated are hereby declared to be
the transportation of the coal and iron and other products
of the mines near Cumberland, in this State, and also the
general transportation of passengers, and of all agricultu-
ral and other produce, and all parcels and packages of
goods, wares and merchandise, and of all and every ar-
ticle of commerce which may be offered to them in their
character of a transportation company.

Issues forbid.

SEC. 6. And be it enacted, That nothing in this act
shall be so construed as to authorise said company to
issue any note, token, scrip, device or other evidence of
debt, to be used as a currency.

Right reserv-

ed.

SEC. 7. And be it enacted, That this act shall remain
and be in force until repealed or modified by the legisla-
ture of this State.