1853.

LAWS OF MARYLAND.

CHAP. 326.

Capital stock.

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

of the Baltimore and Philadelphia rail road company,
shall be fifteen hundred thousand dollars, in shares of thir-
ty dollars each, which said capital may be increased at the
discretion of the commissioners, or the directors, to be ap-
pointed as hereinafter provided for, to any amount not
exceeding three millions of dollars, and as soon as fifteen
hundred shares of the capital stock shall be subscribed,
the subscribers of the said stock, their successors and
assigns, shall be, and they are hereby declared to be
incorporated into a company, by the name of the
Baltimore and Philadelphia 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 far as shall be necessary for the
purpose hereinafter mentioned, and no further, and shall
have perpetual succession by said corporate name,
may sue and be sued, and may have and use a
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 are necessary 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 subscriptions, the sum of two
dollars on every share subscribed, and the residue thereof
shall be paid in each instalments as the president and
directors of said rail road, hereinafter directed to be ap-

Provisoes.

pointed, shall require; Provided, that no payment shall
be demanded, until at least thirty days public notice shall
be given in one newspaper in Cecil county, one in
Harford county, and one in the city of Baltimore, and
if any subscriber shall fail or neglect to pay any in-
stalment, or any part of said subscription thus demand-
ed, for the space of sixty clays next after the time the
same shall be due and payable, the stock on which it is
demanded, shall be forfeited to the company, but the
president and directors may remit any such forfeitures,
on such terms as they shall deem proper; Provided
always, that in addition to the forfeiture aforesaid, the
said company shall be entitled to receive, sue for, and
recover the said instalment and subscription due as
aforesaid, in such manner us other debts and claims are
now recoverable by law.

Books kept
open for three
years.

SEC. 4. And be it enacted, That if the subscription
herein deemed necessary to the incorporation of said
company, shall not be obtained within three years after