PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1847.

subscriptions to the said capital stock of said company,
after having given such notice of the times and places
of opening the same as they may deem proper,
and if such a subscription to the capital stock of said
company as is necessary fur its incorporation be not
previously obtained, the said books may be opened from
time to time during the period of four years from the
passage of this act, at the discretion of said commis-

CHAP. 263.

sioners or a majority of them, and if any of the said
Commissioners, shall die or refuse to act during the con-
tinuance of the duties devolved upon them by this act,
father may be appointed in. his stead by the remain-

ing commissioners or a majority of them.

Vacancies—

how filled.

SEC. 2. And be it enacted, That the capital stock of
the Choptank and Delaware rail road company shall be
ten thousand dollars in shares of twenty-fire dollars each,
which said capital may be increased at the discretion of
the commissioners, or the directors to be appointed as
hereinafter provided for, to any amount not exceeding
twenty thousand dollars, and as soon as one hundred
and twenty shares of the capital stock shall be sub-
scribed, the subscribers of the said stock, their succes-
sors and assigns shall be and they are hereby declared

Capital stock

limited.

to be incorporated into a company, by the name of the
Choptank and Delaware rail road company and by that
name shall be capable in law of purchasing, holding,
selling, leasing and conveying estates real, personal and
mixed, so far as shall be necessary for the purpose here-
inafter mentioned and no further, and shall have perpetual
succession by said corporate name, may sue and be sued,
and may have and use a common seal which they shall
have power to alter or renew at their pleasure, and shall
have, enjoy and may exercise all the powers, rights and
privileges which other corporations may lawfully do for

the purposes mentioned in this act.

Name and

style.

SEC. 3. And be it enacted, That upon every such
subscription there shall be paid, at the time of subscrib-
ing to the said, commissioners or their agents appointed
to receive such subscriptions the sum of one dollar for
each share subscribed, and the residue thereof shall be
paid at such times and in such instalments as shall
be required by the president and directors of said com-

$1 to be paid

on each share
at the time of
subscribing.

pany; provided, that not more than two instalments of
five dollars each shall be required in any one month after
the commencement of the work, nor payment of any in-
stalment demanded until at least ten days public notice
thereof shall have been given by the said president and
directors, and any subscriber shall fail or neglect to pay
any instalment or part of such subscription so demanded

Proviso.