LAWS OF MARYLAND.

105

act, heretofore made inconsistent with the provisions of this act, or
repugnant thereto, be, and the same is hereby repealed.
8. And be it enacted, That nothing herein contained shall be con-
strued to prevent a repeal or modification of this act at any time here-
after.

Dec Ses. 1822
Proviso.

CHAPTER 168.

An act incorporating a company to introduce a copious supply of water
into the town of Emmittsburg, in Frederick county.
Section 1. Be it enacted by the General Assembly of Maryland, That
a company be, and they are hereby incorporated and made a body
politic, for the purposes hereinafter mentioned, and that the said body
politic shall be known and distinguished by the appellation of the
President and directors of the Emmittsburg Water Company, and
shall have full power and authority to do, perform and execute all
and every matter and thing which a similar corporation may or right-
fully can do, and shall have succession during the continuation of
this act; and to that end, for perpetuating the said incorporate body,
the heirs, devisees, representatives and assignees of the individual
members thereof, shall be, and are hereby declared to be members
thereof, and by the name aforesaid may sue and be sued, answer and
be answered, in any court of law or equity in this state or elsewhere.

Passed Feb.

20, 1823.

Incorpora-
tion.

2. And be it enacted, That the capital stock of said company shall
not be less than three thousand five hundred dollars, nor exceed four
thousand dollars, to be divided into shares of twenty-five dollars
each, and that subscriptions to the said capital stock shall be opened
in the town of Emittsburg, under the direction of Lewis Motter,
James Hughes, Henry G. Waters, Robert L. Annon and Patrick
Reid, or any two or more of them, on a day appointed by them for
that purpose, and notified in such newspapers in Frederick as the
commissioners may think proper; and on the day appointed the said
commissioners shall meet for receiving subscriptions, at ten o'clock,
A. M. and continue the same until three o'clock, P M. and if the
subscriptions shall exceed the capital, the commissioners shall ap-
portion the same, according to the subscribers, by proportionate
deductions, so that the whole be reduced to the proper limit; but if
the said subscription shall not be filled on the first day, the commis-
sioners aforesaid may adjourn from day to day until the whole stock
is subscribed; and those who have previously subscribed shall be en-
titled to the stock in said company, from each of whom the said com-
missioners shall exact the first instalment of five dollars on each
share so subscribed.

Capital stock.
Subscrip-
tions.

3. And be it enacted, That, within ten days after closing the sub-
scriptions, two or more of the commissioners shall meet at Emitts-
burg, for the. purpose of holding an election for the president and di-
rectors.

Meeting.

4. And be it enacted, That the stockholders aforesaid, or such as
shall be present in person, or by proxy, shall elect by ballot, out of
the stockholders, five directors to serve until successors to them shall
be chosen; and the said corporation shall annually thereafter, upon,
the same day, in each and every year, or within ten days thereafter,
in like manner, elect five directors for one year, or until successors to
them shall be chosen; each stockholder to have one vote for each and
every share of stock; and the said directors, immediately after their
appointment, and so after every subsequent appointment as aforesaid,
shall choose from among the stockholders by ballot, a president to
14

Elections of
officers.