PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

company shall alone be bound and answerable for its
debts and liabilities.

CHAP. 202.

SEC. 8. And be it enacted, That the persons named
in this act are hereby constituted directors, with power

to choose, from among their number, a president, and
that they or a majority of them, are hereby empowered
to act as, and exercise all the powers of president and
directors under this law, until superseded by an elec-
tion of president and directors, pursuant to the pro-
visions of this act.

Duty prescri-
bed.

SEC. 9. And be it enacted, That nothing in this

act shall be so construed as to allow the said company
to issue any note, scrip or device, to bo used as cur-
rency.

Banking forbid.

SEC. 10. And be it enacted, That the Legislature
hereby reserves to itself the right to alter and annul
this act of incorporation at pleasure.

CHAPTER 202.

Right reserved.

An act to incorporate the Neptune Steam Boat Com-
pany.

Passed Mar. 1,
1850.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That John Glenn, Josiah Lee, John S.
Shriver, Thomas J. Myer, and Joseph E. Clenun, and
others, their associates, successors and assigns, be and
they are hereby created a corporation, by the name of
the Neptune Steam Boat Company, and by that name
shall have succession, may sue and be sued in any court
of law or equity, have a common seal, and at pleasure
alter the same, and generally do every act and thing
necessary for establishing and conducting a line or lines
of steam boats, canal boats, or other vessels, stages or
other carriages, for the conveyance of passengers, and
the transportation of produce, merchandise, or other ar-
ticles.

Incorporated,

&c.

SEC. 2. And be it enacted, That the capital stock
of said company shall be divided into shares of fifty dol-
lars each, and shall not exceed ten thousand shares, to
be subscribed for, or disposed of, from time to time, in
such manner as the resolutions or by-laws made in pur-
suance of this charier shall provide.

Capital stock.

SEC. 3. And be it enacted, That the affairs of the
company shall be managed by a president and directors,

Affairs — how
managed.