T. WATKINS LIGON, ESQUIRE, GOVERNOR.

133

CHAPTER 111.

AN ACT to incorporate the Gas Coal Company of
the Big Youghogany.

Passed Mar.

6, 1856.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That William Schley, William Wood-
ville, junior, and William Key Howard, and such
other persons as may become associated with them,
in the manner hereinafter provided, shall be and they
are hereby constituted a body politic and corporate
by the name of the Gas Coal Company of the Big
Youghogany, and by that name shall have succession,
and be able and capable to sue and be sued, to plead
and be impleaded in any court whatever, and may have
and use a common seal, and may alter and renew the
same at pleasure; and the said body corporate shall have
all the powers, faculties, franchises, and rights neces-
sary and proper for the carrying on the mining of
coal, and the beneficial management of its property,
and for the transportation of coal and other proceeds,
issues, and products of its mines and property to
market; and shall have power and authority to pur-
chase, lease, and hold any property, real, personal,
and mixed, which may be deemed by said company

Incorporated.

necessary for its purposes; Provided, however, that ;
said company shall not at any time actually hold, as
owners thereof, more than five thousand acres of
land in Allegany county, nor more than one hundred
acres in any other part or parts of this State.

Proviso.

SEC. 2. And be it enacted, That the capital of
the said company shall be two hundred thousand
dollars, divided into two thousand shares of the par
value of one hundred dollars each; and whenever
one thousand shares shall have been actually sub;
scribed, the said company shall be authorised to or-
ganize and act as a body corporate.

Capital stock.

SEC. 3. And be it enacted, That for the purpose
of obtaining subscriptions to the capital stock of said
company, books shall be opened under the direction
of the said William Schley, William Woodville,
junior, and William Key Howard, or the majority of
them, at such time or times, and at such place or
places as the persons who may act in that behalf shall
deem expedient; and in case said company shall or-
ganize and proceed to act as a corporate body before
the full number of shares shall have been subscribed,
the President and Directors of said company shall

Books to be
opened.