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Baltimore, to open and extend Saratoga Street eastwardly of
its present width, and in its present direction to Charles Street,
and in that case they are farther authorised to shin up North
West Street, and to allot, and by deed executed and acknow-
ledged by any three or more of them, to convey in fee simple,
the ground over which said last mentioned street, now runs, to
and amongst the proprietors of lots bordering on the same, in
such proportions as they shall in their discretion judge fair and
reasonable, and they shall return a plat of such alterations
of said streets to the register of the city of Baltimore, to be
tiled in his office as a part of said city.
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DEC. Sess.
1816.
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chapter 140.
An act to incorporate the Patapsco Manufacturing Company.
WHEREAS, It is represented to the legislature by the peti-
tion of Edward Gray and others, that they have erected a cot-
ton factory on lands owned by them on the river Patapsco, and
that they are desirous of increasing their capital stock by vo-
luntary subscriptions of such persons as may incline to associ-
ute with them, to enable them to carry on more extensively the
manufacturing of cotton, and to establish and parry on such
other manufactures and business as may be deemed useful,
and have prayed that they may be incorporated, in order to en-
able them the more effectually to accomplish these purposes;
Therefore,
Sec. 1. BE IT ENACTED by the General Assembly of Mary-
land, That Edward Gray, Joseph Tagert, William Rogers and
Robert Taylor, and all such other persons as shall associate
with them by becoming stockholders in the manner herein af-
ter provided, their successors and assigns shall be, and they
are hereby made and constituted a body politic and corporate,
by the name style and title of The Patapsco Manufacturing
Company, and by the same name, style and title shall have con-
tinual succession, and shall be capable in law to sue and be
sued, to plead and be impleaded, and to make and use a com-
mon seal, and the same at their pleasure to alter or renew,
and to purchase, hold, enjoy, improve, dispose of and convey
any lands, tenements, hereditaments, goods, chattels and all
manner of estates real personal or mixed, and generally to do
and perform all such acts as may be necessary for carrying on
the manufacture of cotton, and any other manufacture in their
discretion, and the transaction of any other business which
may be conducive to the prosperity of such manufactures ;
Provided, that the said company shall not at any one time hold or
possess more than one thousand acres of land, or hold or possess
real and personal estate together, above the value of five hun-
dred thousand dollars.
2. AND BE IT ENACTED, That the capital stock of
said company shall not exceed the sum of five hundred thou-
sand dollars, and shall be divided into shares of one hundred
dollars each; and every person who shall become the owner of
one or more shares of the said stock by purchase, transfer, de-
vise or in a course of distribution, shall thereupon become a
stockholder in the said company, and every person who shall
be divested of all his stock in the said company, by sale and
transfer, or by operation of law, shall thereupon cease to be a
stockholder, and the said shares of stock as to all legal purpos-
es shall be deemed and considered as personal estate, and shall
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Passed Jan.
24, 1816.
Preamble.
Style—priv-
ileges.
Proviso.
Capital--
shares.
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