PHILIP P. THOMAS, ESQUIRE, GOVERNOR.

1847.

created, and such other persons as shall hereafter be-
come stockholders in the said corporation, are hereby
enacted and declared to be a body politic and corporate,
by the name, style and title of the Cambridge Steam
Milling and Manufacturing Company of Dorchester
county, and by the same name shall have perpetual suc-
cession, and shall be able to sue and be sued, plead and
be impleaded in all courts of law and equity in this State
and elsewhere, and to make and have a common seal,
and the same to break, alter and renew at their pleasure,
and generally to do every act to promote the object and
design of this corporation.

CHAP. 226.

Name and

style.

SEC. 2. And be it enacted, That the capital stock of
said company shall be twenty thousand dollars, to be
divided into eight hundred shares of twenty-five dollars
each, with power to the said company to increase the
same to one hundred thousand dollars whenever the
president and directors of said company may determine
so to do, the time, place and manner of which augmen-
tation shall be subject to the direction and under the
control of the said president and directors.

Capital stock
limited.

SEC. 3. And be it enacted, That Martin L. Wright,
James Bryan, Jeremiah C. Wright, Lewis Ross, Thomas
W. Anderson, William Rozzell. James Dixon, William
Rea and James A. Stewart be and they are hereby ap-
pointed commissioners to open subscription books for
the purpose of receiving subscriptions to the capital stock
of the company by this act incorporated, and the said
commissioners, or a majority of them, shall cause said
books to be opened at such time and place, and upon
such public notice thereof, as to them shall seem ex-
pedient.

Commission-
ers named.

SEC. 4. And be it enacted, That the stock shall be paid
as follows, namely: two dollars and fifty cents on each
and every share shall be paid to the commissioners at
the time the subscription is received for the same, and
the remaining twenty-two dollars and fifty cents shall
be paid on each and every share in such instalments as
the president and directors may direct and require, and
in case of default in payment of the second or other in-
stalments that may be required by the president and
directors of said company in virtue of this act, the in-
stalment or instalments previously paid shall become for-
feited to the company, and the stock on which such de-
fault shall have been made may be sold for the benefit of
the company, or the forfeiture may be relinquished at the
discretion of the said president and directors on the pay-
ment of the instalments due thereon.

2.50 to be paid
on each share
at the time of
subscribing.