1852.

LAWS OF MARYLAND.

CHAP. 70.

general, to have and exercise all such other rights, pow-
ers, facilities and privileges whatsoever, as shall or may
be necessary or proper for establishing and concluding,
and procuring or furnishing employment for a line
or lines of steamers, packets or vessels, for the convey-
ance of passengers and the transportation of merchan-
dise, and other articles, between the cities of Baltimore,
Maryland, and Boston, Massachusetts, or elsewhere.

Capital stock.

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

of said corporation shall be seventy thousand dollars,
with a right to increase the same to a sum not exceed-
ing three hundred thousand dollars, to be divided into
shares of one hundred dollars each.

Books to be
opened.

SEC. 3. And be if enacted, That any two of the
persons named in the first section of this act, be, and
they are hereby authorised to open books, for subscrip-
tions to the stock of the company, at such places as
they may deem expedient, and after four hundred shares
shall have been subscribed for, to call a first meeting of
the subscribers to said stock, for the purpose of organiz-
ing the company and framing by-laws for its regulation
and government; at which meeting, and at all subse-
quent meetings of the stockholders, each stockholder
shall be entitled to give, in person, or by proxy consti-
tuted in writing, one vote for every share of capital
stock standing in his of her name, on the books of the
company.

Forfeiture of
subscription.

SEC. 4. And be it enacted, That if any subscrip-
tion to the said stock, or any instalment of the same,
remain unpaid for the space of thirty days after the
same shall have become due and payable, the stock on
which the same is demanded, shall be forfeited to the
said company, but the original subscriber shall be held
liable for the full amount due on said stock.

Banking for-
bid.

SEC. 5. And be it enacted, That nothing in this
act shall be so construed as to allow the said corpora-
tion to issue any note, token, scrip or device, to be

used as a currency.

Reservation.

SEC. 6. And be it enacted, That this act of incor-
poration shall enure for thirty years from the date of its
passage, unless sooner repealed by the Legislature, and
shall be subject to a repeal or to such alterations as the
Legislature may, from time to time, think proper to
make.

In force.

SEC. 7. And be it enacted, That this act shall take
effect from its passage.