1840.

LAWS OF MARYLAND.

CHAP. 332.

low, Benjamin H. Cheever, and their associates, suc-
cessors, and assigns, be and they are hereby consti-
tuted a body corporate and politic, by the name and
style of the Chesapeake and Ohio Steam Transporta-
tion and Mining Company, and as such, shall have
succession, and may have and use a common seal,
and change the same at pleasure, and shall be capable
to sue and be sued, plead and be impleaded, in any
court of law or equity, and may also have, use, exer-
cise and enjoy all the powers, privileges and rights
proper and necessary for the opening and working of
the mines of the company, and of transporting to
market, and vending the produce of their own and
other lands, mines and manufactories, and shall also
have power to purchase and hold all such property,
real, personal and mixed, as they may require for the

Provisoes.

purposes aforesaid; provided that the said company
shall at no time hold or possess more than five thou-
sand acres of land, and the said company shall have
power, for the purposes aforesaid, to make such bye-
laws, rules and regulations as may be necessary, and
which shall be binding on the company; provided,
they be not repugnant to any law of this State, or of
the United States.

Capital stock,
etc.

SEC. 2. And be it further enacted, That the capital
stock of the said company shall be divided into ten
thousand shares of one hundred dollars each, of which
the lands, mines, boats, rights and other property of
any of the stockholders, shall constitute a part, at such
price as may be agreed upon between the owners
thereof, on the one part, and those who may associate
with them, and constitute the aforesaid •corporation by
subscribing for stock, payable in money, on the other
part.

Subscriptions
— by whom re-
ceived.

SEC. 3. And be it further enacted, That the sub-
scriptions to the said capital stock shall be made at
such times and places, and in such manner as shall
be designated by the said William A. Bradley, Jacob
Bigelow, and Benjamin H. Cheever, or a majority of
them, and the shareholders shall be entitled, at all
meetings of the stockholders, to one vote for each
share so held, in person or by proxy, and the shares
of the said capital stock shall be assignable or trans-
ferable as may be provided for by the bye-laws of the
said company, and shall be considered as personal
property.

Affairs— how
managed.

SEC. 4. And be it further enacted, That the affairs
of the said company shall be managed by a board of
seven directors, who shall be chosen annually by the