374

LAWS OF MARYLAND.

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 same body
corporate shall have all the powers, facilities,
franchises and rights, necessary and proper for
the carrying on the mining of coal and iron, for
erecting and carrying on furnaces, mills and
manufactories, and the beneficial management of
its property, and for the transportation of coal
and other proceeds, issues and products of its
mines, mills, manufactories and property to
market, and shall have power to purchase, lease
and hold any property, real, personal and mixed,
which may be deemed by said company necessary

Proviso.

for its purposes; Provided however, that said
company shall not at any time, actually hold as
owners thereof, more than one thousand acres of
land.

Capital stock.

SEC. '2. Ami be it enacted, That the capital
stock of said company shall be one hundred thou-
sand dollars, divided in shares of the par value
of one hundred dollars each, with the privilege
of increasing said capital stock to two hundred
thousand dollars.

Books to be
opened.

SEC. 3. And be it enacted, That for the pur-
pose of obtaining subscriptions to the capital stock
of said company, books shall be opened under the
direction of the said John Jamison, Oscar W.
Sturtevant and Charles Trump, or the majority of
them, at such time or times, at such place or
places as the persons who may act in that behalf
shall deem expedient, and payment may be made
of the whole or any part of the subscription ob-
tained or received as aforesaid, in lands or other
property or money, as may be agreed on, in case
of subscriptions obtained whilst the books are
open between the respective subscribers, and the
persons under whose direction the said books may
be opened, and in case of subscriptions received
by the President and Directors, between the re-
spective subscribers and the said President and
Directors.

Stock trans-
ferable.

SEC. 4. And be it enacted, That in all meetings
of the stockholders of said company, each share
of stock shall entitle the holder thereof to one
vote, to be given in person or by proxy, and said
shares shall be considered as personal property,