PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

CHAPTER 316.

An act to incorporate the People's Mining Company.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That George C. Perry, Daniel Wineow,

Charles F. B. Swan, and Thomas Perry, and all who,
as hereinafter provided, shall become their associates,
be and are hereby incorporated by the name of the
People's Mining Company, and as such, shall have
succession, and have and use, and from time to time
change a common seal, and may sue and be sued in
any courts, and may have and enjoy all the powers,
privileges, and rights, proper for carrying on the manu-
facturing of iron, and of other metals, and of articles
of which iron or any other metal is a component part,
and for opening and working their mines of coal and
other minerals, and transporting to market, and vend-
ing the produce of their lands, mines, and manufac-
tories, and for the purposes aforesaid, to take and hold,
all properly and estate, real, personal, and mixed, and
to make all manner of contracts in relation to the bu-

CHAP. 316.

Passed Feb. 21,

1850.

Incorporated,
etc.

siness, property and estate aforesaid; provided, that
the corporation shall at no time hold more than ten
thousand acres of land, exclusive of the bed of roads
it may construct, and except as may be specially re-
stricted by this act, may have and exercise all the
rights and immunities incident to corporations, and
the privileges and powers proper for the objects of this
corporation, and for the use, control, and disposition,
at pleasure, of the property and estate of the corpora-
tion, and may make all bye-laws, rules, and regula-
tions for the government, and in respect of the inte-
rests of the corporation, not repugnant to the laws of
this State, or of the United States.

Proviso.

SEC. 2. And be it enacted, That the capital stock of
the said corporation shall consist of two thousand
shares of one hundred dollars each, of which capital,
the lands and mines of the persons named in the first
section, or of any of them, now owned, or may here-
after he acquired by said company, may constitute a
part, at such price as may be agreed upon between
the holder or holders of the lands and mines of the one
part and the rest of said persons named, or the ma-
jority of those remaining persons, and those associat-
ing with them, as subscribers for stock, payable in
money, and the president and directors may, from
time to time, increase said capital stock, to be taken or

Capital stock,

&c.