1849.

LAWS OF MARYLAND.

CHAP. 169.

signs, be and are hereby made a corporation, by the
name and style of the Astor Coal Mining Company, for
the purpose of working mines of coal and iron, and
manufacturing coke, and for transporting and vending
the products of the same, and as such, shall have a
common seal, and shall have power to sue and be sued,
plead and be impleaded, in any court of law and equity,
and to make bye-laws and all such other rules and regu-
lations as may be necessary for the proper management

Proviso.

of its affairs; provided, the same be not repugnant to
the laws of this State, of of the United States.

May hold prop-
erty.

SEC. 2. And be it enacted, That the said corpora-
tion shall have the power to hold and possess real and
personal property to the amount of five hundred thous-

Proviso.

and dollars; provided, that said corporation shall at no
time hold more than two thousand acres of land.

Capital stock,
&c.

SEC. 3. And be it enacted, That the capital stock of
said corporation, whether the same be real or personal,
or both, shall amount to the sum of five hundred thou-
sand dollars, which shall be divided into shares of one
hundred dollars each, and that the lands and mines, of the
said Charles Trump, John H. Ehlen, and S. S. Wil-
liams, shall constitute such part of said capital stock, at
such a price as may be agreed upon between them and
the said corporation.

Subscriptions
— by whom re-
ceived.

SEC. 4. And be it enacted, That said Charles Trump,
John H. Ehlen, and S. S. Williams, or any two of
them, shall be authorised to receive subscriptions to the
capital stock of said corporation, and shall designate the
times and places at which said subscriptions shall be
received, by giving notice in one or more newspapers
printed in the town of Cumberland and city of Balti-
more, in this State, and each subscriber shall pay, at the
time of subscribing as aforesaid, such sum, per share, as
shall be determined upon by the said Trump, Ehlen,
and Williams, upon each and every share so subscribed
for, and shall, by virtue thereof, be taken and consid-
ered, and thereby become a member of said corpora-
tion, and at all meetings of the stockholders, be entitled
to one vote, for each and every share so held by him,
and all absent stockholders shall be allowed to vote by
proxy, and all shares in said corporate properly shall
be considered as personal property, and be transferable
as such.

Affairs—how

managed.

SEC. 5 And be it enacted, That the concerns of said
corporation shall be managed by a president, who shall be
a director, and six other directors, to be chosen annually
by the stockholders, and to serve for the term of one year,
and until others are chosen, and that until such choice