130

LAWS OF MARYLAND.

given such notice of the times and places of open-
ing the same, as they may deem proper, and if
such a subscription to the capital stock of said
Company, as is necessary for its incorporation, but
not previously obtained, the said books may be
opened from time to time, during the period of
three years from the passage of this act, at the
discretion of said Commissioners, or a majority of
them, and if any of said Commissioners shall die,
or refuse to act during the continuance of the du-
ties devolved upon them by this act, others may
be appointed in their stead, by the remaining
Commissioners or a majority of them.

Capital stock.

SEC. 2. And be it enacted, That the capital
stock of the Columbia and Port Deposit Railroad
Company, shall be six hundred thousand dollars,
in shares of fifty dollars each, which said capital
may be increased at the discretion of the Commis-
sioners or the directors, to be appointed as herein-
after provided for, to any amount not exceeding
twelve hundred thousand dollars, and as soon as
one thousand shares of the capital stock shall he
subscribed, the subscribers of the said stock, their
successors and assigns, shall be and they are
hereby declared to be incorporated into a Com-
pany, by the name of the Columbia and Port Do-
posit Railroad Company, and by that name shall
bo capable in-law of purchasing, holding, selling,
leasing and conveying estates, real, personal and
mixed, so far as shall be necessary for the purpo-
ses hereinafter mentioned, and no further, and
shall have perpetual succession by said corporate
name, may sue and be sued, plead and be im-
pleaded, answer and defend, in any court in this
State, 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 ex-
ercise, 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 to the said Com-
missioners or their agents appointed to receive such
subscriptions, such instalments as the President
and Directors of said railroad, hereinafter directed
to be appointed, shall require, provided that no
payment shall be demanded, until at least thirty