T. WATK1NS LIGON, ESQUIRE, GOVERNOR

69

president and directors of said company, and that the
further sum of nine dollars shall be paid to the president
and directors of said company, in instalments not ex-
ceeding three dollars, at such times as said president

and directors may appoint; Provided, always that fif-
teen days previous notice shall be first given, demand-
ing the payment of said instalments.

Proviso.

SEC. 3. And be it enacted, That as soon as one-
fourth of said capital stock shall be subscribed, notice
thereof shall be given in handbills as aforesaid, and that
in two weeks thereafter, an election by ballot shall be
held for directors of said company, at a time and place
in said town, to be particularly stated, which election
the said commissioners shall hold, and the directors
then chosen, shall be capable of serving as such until
the next election of directors as herein provided.

Election of
directors.

SEC. 4. And be it enacted, That it shall be lawful
for any person or body politic, in person or by attorney,
to subscribe for said slock, and in case the amount of
the subscriptions shall exceed the number of shares into
which the said capital stock is divided, the excess then
created shall be reduced to said number, by a deduction
from the highest subscription, and if after such deduc-
tion, there shall be an equal number of shares, such
number shall be allotted equally to the highest subscri-
bers; but if the number of shares shall be less than the
number of subscribers, then the said commissioners shall
ascertain the successful subscriber by lot.

Lawful for
any one to sub-
scribe.

SEC. 5. And be it enacted, That all such persons as
shall become subscribers in said company, their succes-
sors and assigns, shall be, and are hereby created and
made a corporation and body politic, by the name and
style of the Frostburg Water company, and by that
name are hereby made able and capable in law to have,
purchase, receive, possess, enjoy and retain, to them
and their successors, all such lands, tenements, heredi-
taments, goods, chattels and effects of whatever kind,
nature and quality soever, as may be necessary to carry
into effect, the object and intention of this law, and the
same to grant, alien and dispose of in like manner, and
sue and be sued, plead and be impleaded, answer and
be answered, defend and be defended, in any court of
record, or in any other place whatsoever, and to make,
have and to use a common seal, and the same to break,
alter or renew at pleasure, and also to ordain, establish
and put in execution, such laws, ordinances and regula-
tions, as shall be proper and convenient for the govern-
ment of said company, the same not being contrary to
law or the constitution, and generally to do and execute

Name of
Company.