1852.

LAWS OF MARYLAND.

CHAP. 192.

CHAPTER 192.

Passed May
21, 1852.

AN ACT to incorporate the Baltimore. Towing and
Transportation Company.

Incorporated.

SECTION 1. Be it enacted by the General Assembly

of Maryland, That G. L. Lloyd, J. F. Miller, Thomas
Cunningham, Henry Shirk, their successors, associ-
ates and assigns, be, and they are hereby created a cor-
poration and body politic, by the name and style of the
Baltimore Towing and Transportation company, and
by that name may have perpetual succession, and shall
be able and capable in law to sue and be sued, implead
and be impleaded, answer and be answered in any
court of law or equity, and to make and use a common
seal, and the same to change and alter at pleasure, and
establish such by-laws and regulations as shall be neces-
sary or convenient for conducting the affairs of the cor-
poration.

Capital stock.

SEC. 2. And be it enacted, That the capital stock

of said company shall consist of one thousand shares,

of fifty dollars each, and the president and directors
shall have power from time to time, to increase the ca-
pital stock to such an amount as may be found neces-

Proviso.

sary to accomplish the object of this corporation; Pro-
vided, the same does not exceed two thousand shares.

Powers of pre-
sident and di-
rectors.

SEC. 5. And be it enacted That the president and
directors of the said company, shall, and they are here-
by invested with all the rights and powers necessary for
chartering, building, constructing, and repairing boats
propelled by steam, or otherwise for navigating the Ches-
apeake bay and its tributaries, via, the Chesapeake
and Delaware canal, to the various markets on the Del-
aware river, or elsewhere, and for the purposes of the
conveyance of passengers, towing ships, vessels, canal
boats, barges, arks, rafts, and the transportation of mer-
chandise or other articles; and to hold lands in fee
simple, or otherwise, not exceeding one hundred acres
at a time, and to erect thereon all needful or convenient
buildings, wharves, and other conveniencies, as shall

Proviso.

be necessary for the objects of this company; Provided,
that in no case shall the navigation of any river be im-
peded by the erection of such wharf or other conve-
nience.

Management
of company
vested in five
directors.

SEC. 4. And be it enacted, That the management

of the business and concerns of said company, shall
be vested in five directors, to be elected annually, and
who shall be stock-holders, any three of whom shall be
a quorum for the transaction of business; that the first