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authorised by this charter, they may from time to time, in such
manner and on such terms as their by-laws shall provide, receive
subscriptions for, or sell and dispose of, so many additional
shares of stock over and above the eleven hundred herein be-
fore authorised, as they shall think necessary, not to exceed in the
whole five thousand five hundred shares; the amount of such
additional shares to be used and invested as capital in the man-
ner and for the purposes herein before described.
7. And be it enacted, That certificates under the seal of the
company shall be issued to each of the stockholders for so many
shares of capital stock, from time to time, as shall be equal to the
amount actually paid by him, or to which he shall be entitled; and
each stockholder may sell or otherwise dispose of, and transfer, any
share of stock for which he shall have obtained a certificate; but the
certificates for the one hundred shares to be set apart for Rembrandt
Peale, on which no payment is required, shall not be issued until the
first day of June in the year eighteen hundred and eighteen, unless
authorised by a resolution of the board of directors. Every person
who shall become the owner of one or more shares of the said
stock, by purchase and transfer, or by devise, or operation of
law, shall thereupon become a stockholder in, and a member of
the Gas Light Company of Baltimore aforesaid, within the in-
tent and meaning of this act; and every person who shall be
divested of all his stock in the said company by transfer, or by
operation of law, shall thereupon cease to be a stockholder ;
and the said shares of stock, as to all legal purposes, shall be
considered personal estate, and shall be assignable by transfer,
and the certificates therefor renewable in case of loss, in such
manner and under such restrictions, as the by-laws to be made by
the directors may provide.
8. And be it enacted, That all and singular the rights, permis-
sions, power and privileges, granted to the Gas Light Company
of Baltimore, by an ordinance of the mayor and city council,
of Baltimore, passed on the nineteenth day of June, in the year
eighteen hundred and sixteen, entitled, "An ordinance to pro-
vide for more effectually lighting the streets, squares, lanes and
alleys, of the city of Baltimore," are hereby vested in and con-
firmed to the Gas Light Company of Baltimore, as incorporated
by this act; and the said company hereby incorporated, shall be
authorised, entitled, and bound to do and perform, all acts, and
subject to all restrictions and penalties authorised and permitted,
required or imposed, by the said ordinance, as fully to all in-
tents and purposes, as if the said company had been incorporated
before and at the time of passing the said ordinance.
9 And be it enacted, That all the property, estate, and joint
stock of the said company, shall be bound and answerable for
any contracts or engagements made or liability incurred by the
directors thereof, or through their agency, or by their authority ;
hut the stockholders shall in no wise be answerable or liable
therefor in their individual capacities, or private estates; and
the service of any judicial process upon the president, or any
one of the directors, shall be a sufficient service upon the corpo-
ration.
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Dec. Ses. 1816.
certificates to
be issued to
stockholders.
Rights, &c.
granted by
city council
confirmed to
company.
Stock answera-
ble for con-
tracts of com-
pany.
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