PHILIP P. THOMAS, ESQUIRE, GOVERNOR.

1849.

their associates, successors, and assigns, be and they
are hereby created and made a body corporate, by the
name and style of the Bristol Steam and Sail Boat
Company, and by that name shall have succession,
and shall be capable in law to hold and dispose of
properly, to sue and be sued, to plead and be implead-
ed, answer and defend, and be answered and defend-
ed, in any court of law or equity, and in any other
place whatsoever, to receive and make deeds and con-
tracts, to make, have, and use a common seal, and the
same to change, alter, or renew at pleasure, and gene-
rally to pass all such bye-laws as may be necessary to
regulate its affairs, and to do all such acts as shall be
proper and necessary for the purpose of establishing a
line or lines of steam boats or other vessels, for the
conveyance of passengers, and the transportation of
goods, wares, merchandise, tobacco, grain, produce,
and any and all other things whatsoever, between the
city of Baltimore and the head waters of the Patuxent
river, or to and from any other place or places on the
Chesapeake bay, or any of the waters thereof.

CHAP. 244.

SEC. 2. And be it enacted, That the capital stock of
said corporation shall be divided into shares of one
hundred dollars each, and shall not exceed five hun-
dred shares, including the shares already subscribed
for by the persons herein incorporated, the residue of
said number of shares, or so many of them as from
time to time, by the directors, shall be deemed neces-
sary, may be subscribed for, or disposed of, in such
manner as the Lye laws of said corporation shall pro-
vide •, and each subscriber for one or more shares, who
hath paid or shall pay twenty dollars on every such
share to the use of said corporation, and every person
who shall obtain, by transfer, or in whom shall be
vested by law, one or more shares of the capital stock
aforesaid, shall be deemed a stockholder, and in vir-
tue thereof, a member of the corporation hereby cre-
ated, and shall so continue until he, she, or they shall
cease to be a stockholder, by transferring all his, her,or
their shares of stock, or by forfeiting the same in the
manner hereinafter mentioned, and every person, on
so ceasing to be a stock holder, shall cease to be a mem-
ber of said corporation.

Capital stock,

&c.

SEC. 3. And be it enacted, That there shall he a
general meeting of the stockholders of said corpora-
tion on the first Monday of June, in each and every
year, for the purpose of choosing, by ballot or other-
wise, twelve members of said corporation, to be di-
rectors to manage the affairs thereof for twelve months,

General meet-
ings, &c.