1847.

LAWS OF MARYLAND.

CHAP. 297.

or corporation who may become entitled to any share
or shares of such capital stock, shall fail or neglect to
pay any assessment or instalment which may be re-
quired, to be paid by the president and directors of said
corporation, or a majority of them, on the share or shares
of stock subscribed for or owned by such subscriber,
person or corporation for the space of sixty days next
after such assessment or instalment shall be demanded
and made due and payable, the stock on which such as-
sessment or instalment is demanded shall be forfeited

to such company, and may be sold by the said president
and directors, or a majority of them, for the benefit of
said company, but the said president or directors, or
a majority them, may remit such forfeiture on such
terms as they shall deem proper.

Banking for-

bid.

SEC. 9. And be it enacted, That nothing in this act
be so construed as to authorise the said corporation to
issue any note, token, device, scrip or other evidence
of debt to be used as currency.

In force.

Reservation.

SEC. 10. And be it enacted, That this act shall
Commence and be in force from and after the passage
thereof, and that it shall at all times from the organiza-
tion of the company be liable to be amended or repeal-
ed at the pleasure of the legislature.

CHAPTER 297.

Passed
March 9, 1848.

Incorporated.

An act to incorporate ike Frederick Coal and Iron Com-

pany.

SECTION. 1. Be it enacted by the General Assembly of
Maryland, That Horatio Bigelow, Pemberton Ward
and Albert Clarke, and such other persons as may be
associated with them in the manner hereinafter prescrib-
ed, shall be and they are hereby incorporated by the

Name and
style.

Corporate
powers.

name of the Frederick Coal and Iron Company, and as
such shall have succession and may have and use a com-
mon seal, and be able and capable to sue and be sued,
plead and be impleaded in any court of law or equity,
and may also have, use, exercise and enjoy all the powers,
privileges and rights proper and necessary for carrying
on the manufacture of iron and of articles of which iron is
a component part, and for working, opening, transporting
to market and vending the produce of their lands, mines
and manufactories, and shall have power to take, pur-