LEVIN WINDER, ESQ. GOVERNOR.

21

bly of Maryland, That Nathaniel W. Appleton, Charles
H. Appleton, George Williams, Aaron R. Levering,
John Levering, William Wilson, James Wilson and Ri-
chard D. Mulliken, their associates, successors and as-
signs, be and they are hereby created a corporation and
body politic by the name and style of "the Franklin Ma-
nufacturing Company of Maryland," and by that name
may have perpetual succession, and shall be able and ca-
pable in law to sue and be sued, implead and be implead-
ed, answer and be answered in any court of law or equity,
and to make and use a common seal, and the same to
change and alter at their pleasure, and to ordain and es-
tablish such by-laws and regulations as shall be necessa-
ry or convenient for conducting the affairs of this corpo-
ration, not repugnant to the laws or constitution of this
state or of the United States.

Dec. Sess.

1814.

incorporated—
Privileges.

2. AND BE IT ENACTED, That the objects of
the said corporation are declared to be the manufactu-
ring and vending of paper and of woolen and cotton
goods, and raising and vending of sheep, and the carry-
ing on of any other branches of manufacture in their
discretion; for which purposes they are hereby authorised:
to purchase and hold lands in fee simple or otherwise, not
exceeding two thousand acres at a time, and to erect
thereon all needful or convenient buildings.

Objects of the
corporation—
lands and buil-
dings.

3. AND BE IT ENACTED, That the capital stock
of said corporation shall be three hundred thousand dol-
lars, and to consist of four hundred shares of seven
hundred and fifty dollars each.

Capital and
shares.

4. AND BE IT ENACTED, That there shall be a
meeting of the stockholders of the said corporation on
the first Monday of January in every year or within ten
days thereafter, for the purpose of choosing five direc-
tors to manage all the concerns of the company, who
shall be elected by ballot in person or by proxy; and each
share shall entitle the holder thereof to one vote.

Annual meet-
ings.

5. AND BE IT ENACTED, That the board of
directors, (three of whom shall be a quorum) at their first
meeting, after each annual election, shall appoint one of
their number president, to continue for that year; and
they shall fill up all vacancies which may happen in their
body during the year. They are also authorised to em-
ploy, compensate and dismiss at pleasure, all officers,
agents, and superintendants, which may be thought
needful or beneficial to the company. They shall esta-
blish regulations for the transfer of the stock thereof, and
for proof of the ownership therein. They shall have
power in behalf of the company, to enter into contracts ;
to make purchases of real estate, and to make purchases
and sales of personal property, and to use therefor the
name and seal of the corporation. They may call for
payments by instalments of the capital stock, and shall
from time to time declare dividends of the profits of the

President— va-
cancies—offi-
cers, &c. —
powers and
privileges.