1852.

LAWS OF MARYLAND.

CHAP. 304.

stock, and the said books shall be kept upon respec-

tively, for the purpose aforesaid, from ten o'clock, A.
M., to two o'clock, P. M., in every juridicial day, for
the space of six days, or until there shall have been sub-
scribed one thousand shares; and if at the expiration of
six days, the books aforesaid shall not have the number

of shares aforesaid therein subscribed, the said commis-
aioners may adjourn from time to time, and transfer the
books elsewhere, until the whole number of four thou-
sand shares shall be subscribed, of which adjournment
and transfer, the commissioners aforesaid shall give
such public notice as the occasion may require, and
when the whole number of shares shall be subscribed,
then the books shall be closed.

Capital stock.

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

of the said Baltimore, Carroll and Frederick Railroad
Company, shall be five hundred thousand dollars, in
shares of fifty dollars each; and as soon as one thou-
sand shares of the said capital stock shall be subscribed,
the subscriber of the said stock, their successors and
assigns, shall be, and they are hereby declined to be
incorporated into a company, by the name of the Bal-
timore, Carroll and Frederick Rail road Company, and
by that name shall be capable in law of purchasing,
holding, selling, leasing, and conveying estates, real,
personal, and mixed, so fur us the same shall be ne-
cessary for the purposes hereinafter mentioned, and
shall have perpetual succession, and by said corporate
name may sue and be sued, and may have and use it
common seal, which they shall have power to alter or
renew at their pleasure; and shall have, enjoy, and
may exercise all the powers, rights, and privileges,
which other corporate bodies may lawfully do, for the
purposes mentioned in this act.

Instalments.

SEC. 3. And be it enacted, That upon every such
subscription, there shall be paid, at the time of sub-
scribing to the said commissioners, or their agents, ap-
pointed to receive such subscription, the sum of one
dollar on every share subscribed, and the residue thereof
shall be paid in such instalments, and at such times,
as may be required by the president and directors of

Provisoes.

said company, or a majority of them; Provided, no
payment shall be demanded, until at least thirty days
public notice of such demand shall have been given
by the said president and directors, or a majority of
them, which said instalments, when called for, besides
being a debt due from the original stockholders and
their assigns, respectively, shall remain a charge or lien
on the said several shares, until the same be fully paid;
and every instalment so paid shall be considered as