624

LAWS OF MARYLAND.

capital stock of said company as is necessary
for its incorporation, be not previously obtained,
the said books may be opened from time to time,
at the discretion of said commissioners, or a ma-
jority of them, and if any of said commissioners
shall die or refuse to act during the continuance
of the duties devolved upon them by this act,
another may be appointed in his stead by the re-
maining commissioners or a majority of them.

Incorporated.

SEC. 2. And be it enacted, That the capital
stock of the Baltimore Exchange Buildings Com-
pany shall be two hundred thousand dollars, in
shares of one hundred dollars each, and as soon
as one thousand shares of the capital stock shall
be subscribed, the subscribers of said stock, their
successors and assigns, shall be and they are
hereby declared to be incorporated into a compa-
ny, by the name of the Baltimore Exchange
Buildings Company, and by that name shall be
capable in law of purchasing, holding, selling,
leasing and conveying estates, real, personal and
mixed, and shall have perpetual succession by
said corporate name, may sue and be sued, and
be capable of pleading, answering and defending
in any court of law or equity, may make, have,
use, alter and renew a common seal, and exer-
cise all such other powers as are authorised by
this act.

Stock declared
to be personal
property.

SEC. 3. And be it enacted, That for the better
effecting the object and purpose intended, the
shares of stock in the said Baltimore Exchange
Buildings Company are hereby declared to be per-
sonal estate, and every insurance company, or
other commercial company, within the city Bal-
timore, incorporated by any law of the State, is
hereby authorised to purchase and hold shares
of the said stock, and dispose of and transfer the
same as may be deemed proper, and that the
buildings which the said Baltimore Exchange
Buildings Company may erect, may be held by
them for the purposes of a general commercial
exchange or place of resort for commercial pur-
poses, as a place of public resort for business pur-
poses, and other public uses, and for offices of
corporate bodies and other associations and indi-
viduals, or for any purpose not contrary to law.