PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

capital stock of said corporation shall not be more
than one hundred thousand dollars, divided into

shares of one hundred dollars each.

CHAP. 159.

SEC. 3. And be it enacted, That the stockholders,
the proprietors of a majority of the shares being a

quorum, shall be authorised to employ, compensate,

and dismiss at pleasure, all officers and agents which
may be thought needful and beneficial to the compa-
ny, they shall establish regulations for the transfer of
the stock thereof, and the proof of ownership therein,
they shall have power, in behalf of the company, to
enter into contracts, borrow money, make purchases
and sales of real and personal property, and to use
therefor, the name or names and seal of the corpora-
tion, and to prescribe all such rates of charge for
freight or compensation for the use of the company's
boats and property, as they shall deem just and rea-
sonable.

Rights and pri-
vileges confer-
red.

SEC. 4. And be it enacted, That all the joint stock,
property and effects of said company shall be answer-

able for all contracts made by or for said company,
and for all just claims against the same, and the stock-
holder shall be in no wise answerable or liable there-
for, in their individual capacities or private estates,
and a quorum thereof may at any time dissolve the
corporation; provided, that all contracts with, and
suits by or against the same, shall not be impaired or
affected by such dissolution.

Not individual-
ly responsible.

SEC. 5. And be it enacted, That nothing in this act

contained shall be construed to restrict the right of
the Legislature, which is hereby reserved, to impose at
all times hereafter, and levy such reasonable tax upon
all steamboats, vessels, estate, funds, or other proper-
ty into which the capital of said company shall be
invested, as shall be imposed or levied upon similar
steamboats, vessels, property, estate, or funds of any
other company, corporation, or individual of this
State.

Right reserved.

SEC. 6. And be it enacted, That said corporation is
hereby prohibited from issuing any note, certificate,
or other evidence of debt, to be used as a currency,
and that the right is hereby expressly reserved to the
General Assembly of Maryland, to repeal this act or
alter it whenever the public good may require it.

Banking forbid.

SEC. 7. And be it enacted, That the said company
shall not charge for the transportation of wheat from
the head of tide-water, in the Susquehanna, to Balti-
more, more than four cents per bushel, for oats and

Charges regu-
lated.