1847.

LAWS OF MARYLAND.

CHAP. 204.

stock of the company to be incorporated by the provi-
sions of this act, notice having been given as said com-
missioners or any three of them may deem proper, of
the time and place of opening said books, and continue
the same open from time to time so long and often as
they may find it necessary, to complete such subscrip-
tions.

Capital stock
limited.

SEC. 2. And be it enacted, That the capital slock of
said company shall be ten thousand dollars divided in-
to shares of ten dollars each, and all individuals and
bodies politic and corporate are hereby authorised and
empowered to subscribe fur such amount of said stock

Provisoes.

as they may deem proper; provided nevertheless, that if
the subscription shall exceed the amount required by
this act the commissioners shall regulate the same in
such manner as to effect a just apportionment of the
stock among the subscribers; and provided also, that
at the time of making the subscription to the said
capital stock there shall be paid to the said commis-
sioners upon each share subscribed for the sum of two
dollars, and the residue thereof shall be paid at such
time and in such manner as may be prescribed by the
president and directors of the company to be by this act
incorporated.

Corporate
powers.

SEC. 3. And be it enacted, That whenever one hun-
dred shares of said stock shall bo subscribed for, then
the said subscribers shall be declared to be incorporated
and made a body politic and corporate by the name and
style of the Cambridge and Blackwater canal company,
for the purpose of making a canal from some point of
the Blackwater river to Cambridge creek, in Dorches-
ter county, and by the aforesaid name to have perpetual
succession, and shall be capable in law to have, pur-
chase, receive, possess and enjoy to them and their
successors, lands, tenements, hereditaments, goods,
chattels and effects of what kind, nature or quality so-
ever, and the same to grant, demise, convey and dis-
pose of, to sue and be sued, to plead and be impleaded,
to answer and be answered, defend and be defended in
any court of record or any place whatever, and also
make, have and use a common seal and the same to
break, alter and renew at pleasure, and also to make,
ordain, establish and put in execution such bye-laws,
ordinances and regulations as shall seem necessary and
convenient for the government of said corporation and

Proviso.

the management and conducting of their affairs; provid-
ed, the same be not contrary to the laws of this State
or of the United States.