1845.

LAWS OF MARYLAND.

CHAP. 70

Passed Feb.
4, 1846.

In force until
1860.

CHAPTER 70.

A supplement to the act entitled, an act to incorporate the
President and Directors of the Baltimore Gun Powder

Company.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the act entitled, an act to incorporate
the president and directors of the Baltimore Gun Powder
Company, passed at December session of the General
Assembly of Maryland, eighteen hundred and twenty-
four, chapter seventy-one, be and the same is hereby
continued in force until the first day of January in the
year one thousand eight hundred and sixty, and thence
until the end of the next session of the General Assembly
thereafter.

Authorised to
purchase.

Proviso.

SEC. 2. And be it enacted, That the said corporation
may be authorised to purchase lands, contiguous and ad-
joining to their works; provided, they possess not more
land at any time than five hundred acres; and to sell and
dispose of the same in fee simple, and that all convey-
ances hereafter received by the said corporation for lands
purchased by it, and all and every conveyances made by

Made valid.

the said corporation for lands sold by it, contiguous and
adjoining to its works as aforesaid, be and the same
are hereby made valid, and the owners thereof are hereby
quieted in the same.

No transfer of
capital stock
by any stock-
holder in debt
to company.

SEC. 3. And be it enacted, That no transfer of the cap-
ital stock of the said corporation shall at any time be
made by any stockholder therein, who may be in debt
to the company, until the amount due by said stockholder
shall have been fully paid, and in the event of the refusal
or failure of any stockholder to pay any debt which he
may owe to the said corporation, it shall be lawful for
the president and directors, after giving sixty days no-
tice to the said stockholder of their intention in the pre-
mises, to cause the said stock to be sold at its then cur-

Right reserv-
ed.

rent value, and apply the proceeds of such sale to the

credit of the debt due by the said stockholder.
SEC 4. And be it enacted, That the legislature of this
State at any time hereafter, the public interests in its
judgment may require it, may alter, repeal Or abolish this
act.