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LAWS OF MARYLAND.

CHAPTER 316.

Passed
Mar. 10, 1854.

AN ACT to incorporate the Real Estate Company of
Baltimore.

Commission-
ers appointed.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That George Gelback, Jr., John A. Hem,
Isaac Simmons, James C. Adams and James L. Arm-
strong, be, and they are hereby appointed commission-
ers, under the direction of a majority of whom, books
shall be opened in the city of Baltimore within three
months from the passage of this act, for subscriptions to
the capital stock of the Real Estate Company of Balti-
more hereby incorporated.

Capital stock.

SEC. 2. And be it enacted, That the capital stock of
said company shall be fifty thousand dollars, divided
into shares of fifty dollars each, but said capital stock
may hereafter be increased to any amount not to exceed
in the whole two hundred thousand dollars, and so soon
as five hundred shares of said capital stock shall have
been taken, and ten dollars per share paid to said com-
missioners at the time of subscribing, the said com-
pany shall be organized in the manner hereinafter di-
rected.

Objects.

SEC. 3. And be it enacted, That the objects of said
corporation shall be to purchase, take, acquire and hold
in fee simple or otherwise, real estate and chattels real
situated in Baltimore city or Baltimore county, not to
exceed in the aggregate one thousand acres, and to lay
out the same with streets, lanes, alleys or other divisions,
into lots, squares or parcels, and to improve, ornament,
sell or lease the same, for the purpose of villas or county
seats or other kinds of buildings, or to erect dwellings or
other improvements thereon and sell, lease or rent the

Proviso.

same; Provided, that in laying off said estate, no in-
fringement shall be made on the plan of said city, es-
tablished by law, or on the highways and public roads
of said county.

Meeting of
stockholders.

SEC. 4, And be it enacted, That so soon as five
hundred shares of the capital stock shall have been sub-
scribed, and ten dollars per share paid thereon, the said
commissioners or a majority of them, shall by notice
published twice a week for two weeks, in at least one
of the daily newspapers of said city, call a meeting of