PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

levy upon the taxable property of Somerset county, such
sums of money as may be required to meet the expenses
which may be incurred under this act, and this act shall
be in force from the date of its passage.

CHAPTER 398.

CHAP. 398.

An act to incorporate the Centrifugal Company, of
Maryland.

Passed
Mar. 4, 1850.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That James Lovegrove, Edward V.

Ward, Thomas J. Lovegrove, Folger P. Lovegrove,
David B. Smull, and William R. Lovegrove, their as-
sociates, successors, and assigns, be and they are hereby
created a corporation and body politic, by the name and
Style of the Centrifugal company of Maryland, and by
that name may have succession, and shall be capable in
law to sue and be sued, plead and be implead, answer
and be answered, in any court of law and equity, and
to make and use a common seal, and to ordain and es-
tablish such bye-laws and regulations as shall be neces-
sary or convenient for conducting the affairs of the cor-

poration, not repugnant to law.

Incorporated,

&c.

SEC. 2. And be it enacted, That the objects of said
corporation are declared to be the making and manufac-

turing of and trading in metals, glass, and other articles,
for which purpose they are authorised to purchase, hold
and sell land, in fee simple or otherwise, necessary to
the conduct of the business, and to erect thereon all
needful or convenient buildings; that the capital stock
of said corporation shall not exceed two hundred thou-
sand dollars.

Objects of cor-
poration.

SEC. 3. And be it enacted, That for the management
of the affairs of the company, the stockholders shall

elect a president and three directors, who shall remain
in office one year, or until successors shall be elected, a
majority of whom shall form a quorum or board, to
conduct the affairs of said corporation, and that in all
elections for officers, the stockholders shall be entitled to
one vote for each share of stock they shall own.

Affairs — how
managed.

SEC. 4. And be it enacted, That the stock of said
company shall be deemed personal estate, and that all
the property, estate and joint stock of the said corpora-

tion, shall be liable for its debts or liabilities.

Capital stock
to be personal
estate.