126

LAWS OF MARYLAND,

1812.

and receive sub-
scriptions.

Moore, Lambert Reardon and John Kemp, be, and
they or any three of them be, and they are hereby ap-
pointed commissioners, with full power and authority
to open or cause to be opened, books for receiving and
entering subscriptions for raising a capital stock not
exceeding fifty thousand dollars, in shares of twenty,
five dollars each, for the purpose of manufacturing
woollen, linen and cotton cloths.

Commissioners
shall open,
books in the
town of Easton.

2 AND BE IT ENACTED, That the commis-
sioners aforesaid, or any three or more of them shall
open said books at some convenient place, by them to
be appointed, in the town of Easton, in Talbot county;
the times and manner of entering and securing such
subscription to be fixed upon by said commissioners,
or any three or more of them, to be advertised by
them at least six week before said subscriptions shall
be taken, in one or more papers published in the town
of Easton.

Stock-holders
incorporated
when one thou-
sand shares are
subscribed for.

3. AND BE IT ENACTED, That whenever one
thousand shares of the said stock shall be subscribed
for, all persons who may then be, or thereafter may
become the actual proprietors of shares in the said
capital stock, either as subscribers for the same, or as
the legal representatives, successors or assignees
of such subscribers shall be, and they are hereby
made and created a body politic and corporate, by the
name and style of the President and Directors of the
Manufacturing Company of the Eastern Shore of Ma-
ryland; and by that name may sue and be sued, plead
and be impleaded, and do and suffer all acts, matters
and things, which a body politic and corporate may
lawfully do and suffer.

Relative to the
election of di-
rectors, &c.

4. AND BE IT ENACTED, That whenever the
said one thousand shares shall be subscribed for, that
then the commissioners aforesaid, or any three or
more of them, shall, by giving at least six weeks no-
tice thereof in one or more newspapers published in
the town of Easton, call a meeting of the said stock-
holders, in the town of Easton, for the purpose of
electing from amongst the stock-holders, seven direc-
tors; three of whom shall reside in the town of Easton,
and the remaining four in Talbot county; which elec-
tion shall be by ballot, on the day and at the place ap-
pointed therefor by the said commissioners, from the
our of nine o'clock in the morning, until four o'clock
in the evening, and the persons qualified as aforesaid,
having a plurality of all the votes taken, shall be
deemed and considered directors of the said company
until a new election shall take place, as hereinafter