1849.

LAWS OF MARYLAND.

CHAP. 318.

by the other directors, to continue in office until the
next regular election.

Banking forbid.

SEC. 10. And be it enacted, That nothing herein con-
tained shall he construed so as to confer upon this cor-
poration any banking privileges, and the Legislature
hereby reserves to itself the right to amend, alter or re-
peal this act at pleasure.

Dividends, &c.

SEC. 11. And be it enacted, That the president and
directors, so soon as the progress of their works, and the
state of their funds will permit, shall make, declare and
pay to the stockholders, their legal representatives, half
yearly dividends, at certain stated times, to be fixed by
them, on the stock of the company, out, of the increase
of the company's property, reserving such sum annual-
ly, as they shall judge necessary, for repairs, augmenta-
tions and contingencies.

Assignments.

SEC. 12. And be it enacted, That the assignee of any
one or more shares of the capital stock of said company,
shall upon such assignment made and completed, ac-
cording to the provisions of this act, and the bye-laws of
said company, be entitled to all the rights and privi-
legges, benefits and advantages of original subscribers or

Proviso.

stockholders in said company; provided, no assignment
or transfer of stock shall be valid, unless made on the
books of said company, and every person or persons
having so transferred or assigned the whole of his, her
or their stock in said company, shall, ipso facto, cease
to be a member, or president, or director of said compa-
ny, as the case may be.

In force, &c.

SEC. 13. And be it enacted, That the company
hereby incorporated, shall not be construed to nave
power to erect works or factories except within the
limits of Washington county aforesaid, and that this act
of incorporation shall be in force for the term of thirty
years from the date of its passage.

CHAPTER 318.

Passed
Feb. 28, 1850.

An act to incorporate the Linganore Copper Company,
of Frederick county.

Incorporated,
&c.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That Anthony Kimmel, Anthony Zaarr
Kimmel, James Wilks, junior, William J. Albert, E.
W. Mobberly, Edward Shriver, and John H. Wil-