PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

the interest of the many; and whereas, it is thought
expedient to grant a charter, as desired, in order to en-
courage the investment of capital, having for its object
the accommodation of the coal trade, which it is desira-
ble to see extended to the utmost capacity of the means of
transportation offered by canal or rail road — Therefore,
SECTION 1. Be it enacted by the General Assembly

CHAP. 259.

of Maryland, That James Brown, Freeman Raudon,
and Martin Hoffman, their associates, successors and as-
signs, are hereby made and declared a body corporate,
by the name of the Cumberland Basin company, and
by that name may sue, and be sued in any court of law
or equity, and may make and use a common seal, and
alter the same at pleasure, and may have, and use all
the rights, powers and privileges necessary for the ac-
commodation of all dealers in coal wanting facilities
with a view to the transportation of coal from Cumber-
land, on the Chesapeake and Ohio canal or the Balti-
more and Ohio railway, upon such terms as may be
agreed on with said dealers, and to purchase, hold and
use real and personal estate, and to construct such im-
provements, fixtures and buildings on their lands as may
be necessary to accommodate the wants of the coal dealers
in getting coal to market, and to sell and convey, or other-
wise dispose of as they may deem proper the Said estate,
or any part thereof, and generally to do all such acts,
and to pass and enforce such bye-laws and regulations
as may be necessary and proper for conducting the busi-
ness of said corporation, the same not being contrary to
law or to the provisions of this act.

Incorporated,
&c.

SEC. 2. And be it enacted, That the capital stock of
said corporation shall be divided into shares of one hun-
dred dollars each, and shall at no time exceed one hun-
dred thousand dollars, and any persons who shall be the
proprietors of one share, or more of said slock, shall be
a member of said corporation, and as such shall be enti-
tled, at all elections, and at all meetings of the stock-
holders to one vote in person, or by attorney, for each
and every share of said capital stock which is held
by such poison, and the said capital stock may in
whole or in part consist of and be vested in lands, im-
provements, fixtures, buildings, machinery, tools and
materials necessary and useful for carrying on the busi-
ness of said company, and that the lands referred to in
the recital to this act shall constitute a part of said cap-
ital stock, at such a price as may be agreed upon between
the said James Brown, of the one part, and the said cor-
poration of the other part, and the shares of said capital
stock shall be deemed personal estate, and be transfera-

Capital— how
paid in.