1849.

LAWS OF MARYLAND.

CHAP. 537.

stock of the company, to be incorporated by the pro-
visions of this act, and it shall be the duty of the
commissioners, at least thirty days previously to the
opening of said books, to give notice thereof by ad
vertising in some newspaper published in the city of
Baltimore, and in Howard District.

Capital stock.

SEC. 2. Be it enacted, That the capital stock of the
said company shall be fifty thousand dollars, in shares
of one hundred each, and all individuals and bodies
politic, are hereby authorised and empowered to sub-
scribe for so many shares of said stock as they may

Proviso.

think proper; provided nevertheless, that if the said
subscription shall exceed the amount required and
authorised by this act, the said commissioners, or a
majority of them, shall distribute the shares of stock
among the subscribers, in such manner as may pro-
mote a fair and rateable apportionment whereof, to the
amount subscribed.

Incorporated,
&c.

SEC. 3. Be it enacted, That whensoever two hun-
dred shares of the said stock shall be subscribed, and
ten thousand dollars shall have been paid thereon,
then the said subscribers shall be and constitute a
body politic, by the name of the Howard Paper Com-
pany, and by the aforesaid name shall have succes-
sion, and shall be capable in law to have, purchase,
receive and possess, for them and their successors,
lands, tenements, hereditaments, goods, chattels and
effects of every kind, nature and quantity necessary
to the conducting of the business of the corporation,
and the same to grant, demise, convey and dispose of,
as any natural person may do, to sue and be sued,
plead and be impleaded, defend and be defended, in
any court of record, or any place whatsoever, also to
have and use a common seal, and the same to break,
alter and renew at pleasure, and also to ordain and
establish such bye-laws, from time to time, for the
government of said corporation, and the management

Proviso.

of its affairs as shall seem convenient; provided, the
same be not contrary to law, and the constitution of
this State.

Object of cor-
poration.

SEC. 4. Be it enacted, That the objects and pur-
poses of this corporation are declared to be the manu-
facture and sale of paper of every description, and the
purchase and renting of real estate, water power and
other property, and the erecting or renting of mills,
buildings and machinery necessary and convenient
for those objects.

When to be
operative, etc.

SEC. 5. And be it enacted, That whensoever the
said number of two hundred shares shall have been