1849.

LAWS OF MARYLAND.

CHAP. 76.

hereafter prescribed, their successors and assigns,
shall be and they are hereby incorporated by the name
of the Freight Line of Cecil county, Maryland, for
the purposes and with the privileges and immunities
herein described, defined and granted, and by that
name shall be a body politic or corporate, in fact and
in law, and may be sued and may sue, plead and be
impleaded, in all courts of justice and elsewhere, and
the said company shall have power and authority at
any time after the passage of this act, to purchase all
such rights, goods, chattels and effects necessary or
useful for the construction, erection, and carrying on
the freighting business, and the said company shall
have succession, and power to make and use a com-
mon seal, the same to change and renew at pleasure,
and to adopt and carry into execution such laws, or-
dinances, and regulations as shall, by its direction, be
adjudged necessary and convenient for the govern-
ment and management of the said company, and the
same to change, alter, repeal, and annul, and re-enact,

Proviso.

provided, the same he not contrary to the constitution
and laws of this State.

Capital stock,
&c.

SEC. 2. And be it enacted, That the capital stock of
said company shall consist of two hundred shares, of
twenty-five dollars each, and the president and direc-
tors shall have power, from time to time, to increase
the capital stock to such an amount as may be found
necessary for the accomplishment of the objects of

Proviso.

this incorporation; provided, that the same does not
exceed eight thousand shares.

Subscriptions
—by whom re-
ceived.

SEC. 3. And be it enacted, That the subscription
to the capital stock of said company shall be received
under the direction of Robert H. Thomas, Benjamin
S. Foulks, Bemjamin Craig, and James L. Craig, of
Cecil county, Maryland, or a majority of them, who
shall act as commissioners, at such time and place as
they shall designate, and each subscriber shall pay,
at the time of subscription, to the commissioners re-
ceiving the same, the sum of five dollars on each
share by him or them subscribed.

Affairs — how
managed.

SEC. 4. And be it enacted, That the management
of the business and concerns of said company shall
he vested in four directors to be elected annually, and
who shall be stockholders, any three of whom shall
be a quorum for the transaction of its business, that
the first board of directors shall be elected in the fol-
lowing manner, namely, as soon as the commission-
ers shall have ascertained that two hundred shares
have been taken, they shall call a general meeting of-