1849.

LAWS OF MARYLAND.

CHAP. 76.

entered on the books of said company, in such man-
ner as its bye-laws may direct, but all debts due the
said company by the stockholder wanting to make the
transfer, and all outstanding engagements on which
he is then liable to said company, shall be paid or
satisfied out of said stock, or otherwise, before any
transfer of any said stock can be made, and before
any dividend can be paid on the same, except by the
special permission of the president and directors of
said company, and when the said company shall be
organised, the amount due upon the subscriptions to
its capital stock, shall be paid in instalments, at such
times as the president and directors may require the
same to be paid, they giving at least sixty days notice
of the demand of any instalment, and in default of
payment of any instalment, the president and direc-
tors may sell so many of the shares in default, as may
be sufficient to discharge the sum then due on the
same, and the purchases thereof shall hold the same
subject to the same regulations and with the same
rights as if they had been originally subscribed by
him.

Object of cor-
poration.

SEC. 8. And be it enacted, That the said company,
as soon as it shall go into operation, shall cause their
boats to stop at, at least, two places in Cecil county,
Maryland, and other places, as the president and di-
rectors of said company may from time to time direct,
and shall transport all kinds of country produce of
every description, to or from the city of Baltimore, or
to or from the city of Philadelphia, upon the payment
to the said company or their agents, of freight, in con-
formity with a tariff that shall be established by the

Proviso.

president and directors of said company; provided,
that grain shall not be charged for its transportation
from the waters of the Chesapeake bay to Baltimore
city, or from the waters of the Chesapeake bay to
Philadelphia city, not including canal charges to the
latter, over four cents per bushel for wheat, or over
four cents per bushel for corn or oats, that passengers
from or to the stopping places of the company's boats,
on the waters of the Chesapeake bay, not to be charged-
over one dollar passage, either to Baltimore city or
Philadelphia city, canal regulations to the latter city
not included, the tariff on all other articles to be regu-
lated by the president and directors.

Responsibility
of corporation.

SEC. 9. And be it enacted, That the said company
shall appoint true and trusty captains and agents, and
that all grain, marketings, or other articles of mer-
chandise, and for every description of property en-