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CHAP. 313.
Notice to be
given.
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who are hereby appointed commissioners for the purpose
aforesaid, who, alter at least twenty days notice by pub-
lication in one or more newspapers published in Frede-
rick and Washington counties of the time and place of
opening said subscription books, at which time and at
each place at least three of the above named commis-
sioners shall attend, and shall permit all persons and
corporations who shall other to subscribe in person or by
attorney for stock in said books, which shall he kept
open for that purpose at least four hours in each day
for three successive days if necessary, and if the whole
of the said capital stock be not then subscribed for the
said commissioners may re-open said books at such time
and place as they may think fit, under the direction of
the said commissioners, or any of them, for fur-
ther subscriptions from time to time until the whole of
said stock be subscribed for.
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Subscriptions
taken by one
commissioner
to be valid.
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SEC. 3. And be it enacted, That all subscriptions to
stock made by any person or corporation in the presence
of any one of the aforesaid commissioners, and at any
other place or time than the place or time designated in
the notice published by the commissioners, shall be
deemed as valid and binding as if said stock were sub-
scribed before the said commissioners in the manner di-
rected and prescribed by the second section of this act.
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When to go
into operation.
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SEC. 4. And be it enacted, That when one-third or
more of the shares of said stock shall have been sub-
scribed, the said commissioners, or a majority of them,
who opened the said subscription books, shall give thirty
days notice in one or more newspapers published in
Frederick and Washington counties, of the time and
place by them appointed for the subscribers to meet in
order to organize said company, and to choose by a ma-
jority of votes of the said subscribers, by ballot, to be
delivered in person or by proxy duly authorised, mana-
gers from among the stockholders to conduct the busi-
ness of said company until the first Monday of May
eighteen hundred and forty-nine, and until their succes-
sors shall be chosen in the manner hereinafter provided,
at all elections each stockholder shall be entitled to one
vote for every share held by said stockholder not ex-
ceeding one hundred, and that as soon as the company
is organized the managers elected shall proceed to ex-
pend the money subscribed in the construction of said
road, beginning at such point as they, or a majority of
them, shall determine, and that the managers be and are
hereby vested with full power and authority to borrow
upon the pledge of the property of the road and its
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