1852.

LAWS OF MARYLAND.

CHAP. 293.

scription to be made in person or by proxy, proved in
such manner as the commissioners shall require; and
the sum of ten dollars shall be paid on each share to the
commissioners at the time of subscribing; the said
commissioners may continue the subscription books
open so many days as they shall deem proper, or close
them at any time after one thousand shares or more
shall be subscribed, and may apportion the shares in
case of excess of subscription; and within ten days
after one thousand shares of stock shall be so subscrib-
ed, the commissioners, or any three or more of them,
shall appoint a day and place in the said city, of which
they shall give ten days notice as aforesaid, for the said
stockholders to meet and elect six of the stockholders
directors of the company, to hold their office until the
next annual election, and any three or more of the
commissioners shall be judges of such election; imme-
diately after the election, the commissioners shall de-
liver and pay to the directors, so elected, the subscrip-
tion book or books, certified by a majority of the com-
missioners, and the money received from the subscribers
to the stock, deducting all expenses by them incurred
in performing their duties as commissioners, either pre-
vious to or after the passage of this act.

Incorporated
by name of
Mount Vernon
Hotel compa-
ny.

SEC. 2. And be it enacted, That when one thou-
sand shares of the capital stock shall be subscribed as
aforesaid, the subscribers, as holders of the said stock,
their successors or assigns, shall be, and they are hereby
incorporated by the name of the Mount Vernon Hotel
company, and by that name shall be 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 to ordain and establish such
by-laws and regulations as shall be necessary or conve-
nient for conducting the affairs of the corporation, and
not repugnant to law, and by the said name they shall
have perpetual succession.

Object of cor-
poration.

SEC. 3. And be it enacted, That the object of the
said corporation is hereby declared to be the building
and carrying on of a Hotel in the city of Baltimore,
for which purpose they are hereby authorised to buy
and hold real and personal estate in the said city, erect
thereon the necessary buildings and furnish the same,
and they are hereby invested with all such powers,
rights and privileges, as may be necessary for the pur-
poses of the said corporation as herein declared; and
the said corporation may rent out the said Hotel from
time to time, and whenever it may appear to the direc-
tors most judicious to do so.