78

SAMUEL STEVENS, Jr. ESQUIRE, GOVERNOR;

Dec. Ses. 1824

quired, the deficiency shall be paid by the subscriber, and on default
of payment thereof, the said president and managers, on ten days
previous notice, shall recover the same before any justice of the
peace or court of record within this state, and the purchaser shall
be invested with all the rights of the original subscriber.

Banks—pref-
erence.

3. And be it enacted, That the Farmers Bank of Maryland and
its branches, the Westminster Bank and its branch, and the Fre-
derick county Bank; shall in the subscriptions have a preference
to the amount of five hundred shares each, and that the charter of
each bank with its branch or branches, subscribing for that amount,

Charters
thereupon ex-
tended.

Exemption
from tax.
May elect a
manager.

shall be, and the same is hereby extended to the year one thousand
eight hundred and forty five, and to the end of the next session of
the general assembly which shall be thereafter, together with all
the rights and immunities hitherto enjoyed or in any wise belong-
ing to said charters, exempt from any tax, duty or incumbrance not
now imposed, excepting such taxes as relate to free and county
schools, which may be continued at their present rates, with the
additional right on the part of the stockholders of the said banks
respectively, to elect any stockholder or manager who shall there-
by become entitled to serve as such for the bank by which he shall
be elected, and for that purpose the said stockholders to have as
many votes as they may have shares of stock.

Votes.

4. And be it enacted, That every subscriber or holder of a share
or shares shall be entitled to vote by himself or by his agent or
proxy appointed under his hand, and acknowledged before any
justice of the peace of this state, or before two witnesses, at all
elections held in virtue of this act, and shall have as many votes
as he has shares; but such agent or proxy shall be a member of
the company, and no share holder shall be entitled to vote at any
election unless all instalments required in virtue of this act shall
be fully paid.

Subscripti-
ons authori-
ed.

Reduced.

5. And be it enacted, That it shall be lawful for any person or
body politic, in person or by attorney, to subscribe for said stock,
and in case the amount of subscriptions shall exceed the number of
shares into which the said capital stock is divided, the excess thus
created shall be reduced by the Frederick commissioners to the
said number by a deduction from the highest subscriptions, those
subscribed by the banks to be excepted.

Certificates
to be return-
ed.

6. And be it enacted, That so soon as the subscriptions shall be
closed, the Frederick commissioners shall certify under their hands
to the clerk of Frederick county court, and to the clerk of Wash-
ington county court, the names of the subscribers, and the num-
ber of shares subscribed by each person and by the banks, to be by
said clerks recorded; and thereupon the said subscribers, their heirs
or assigns, shall be, and are hereby created a body politic and cor-
porate, by the name and style of the "President and Managers
of the Frederick and Harper's Ferry Turnpike Road Company,"
and by that name and under that style, the said company shall have
succession, and are hereby made able and capable in law to have,
purchase, receive, possess, enjoy and retain to them and their
successors, all such lands, tenements, hereditaments, goods,
chattels and effects of whatsoever kind, nature and quality, as
may be necessary to carry into effect the object and intention of