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dollars, money of the United States, divided into four
thousand shares of fifty dollars each; one thousand
shares thereof shall be reserved for the use and benefit
ef the state, to be subscribed for in such manner as the
legislature may direct.
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1812.
ber of shares,
&c.
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3. AND BE IT ENACTED, That books for the
subscription of two thousand shares of the said stock
shall be opened at Cumberland by the commissioners
herein after named, or a majority of them, on the first
Monday of April next; and the commissioners who
shall meet on the day so appointed for receiving the
said subscriptions, shall cause the said books to be
opened at the place or places agreed upon, at ten
o'clock in the morning, and continue the same open
until tive o'clock in the afternoon; and if the subscrip-
tions shall exceed the number of shares as above, then,
the said commissioners are hereby authorised so to
apportion the shares subscribed, among the several
subscribers, as may reduce the whole to the number
to be subscribed for; but if the said subscriptions
shall not be filled upon the first day, the said commis-
sioners shall have power to adjourn from day to day,
until the whole number of shares shall be subscribed
for, and at any time after the first day, when the said
subscriptions shall be complete, it shall be the duty of
the said commissioners, immediately to close the books;
and those only who have actually subscribed previous
thereto, shall be entitled to the said stock; audit shall
be the duty of Benjamin Tomlinson, Thomas Blair,
Upton Bruce, William M'Mahon, James Scott,
George Thistle, Jonathan Cox, John Scott and Samuel
Smith or a majority of them, to conduct every opera-
tion of the proposed institution until they shall be
superseded by the appointment of directors.
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Subscription
books shall be
opened at Cum-
berland — -how
and by whom
to be conduct
ed, &c.
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4, AND BE IT ENACTED, That every sub-
scriber shall pay to the commissioners who shall at-
tend for opening the books at the time of subscribing
for the same, the sum of five dollars on each share
that shall be by him subscribed; and each subscriber
shall, within sixty days thereafter, pay the farther sum
of ten dollars; and ninety days thereafter, the farther
sum of tea dollars, so as to make up twenty-five dol-
lars on each share, and the remaining twenty -five dol-
lars on each share; shall be paid by such instalments,
and at such times as the directors shall appoint, upon
giving not less than three months notice of such de-
in and in the most public places in the county, and in
some public print in the city of Baltimore; and re-
ceipts shall be given for the several payments so made;
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Amount to be
paid on sub-
scribing, farther
instalments, &c.
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