| 1816.
CHAP. 220.
Proviso. |
LAWS OF MARYLAND.
shall give notice in the Allegany Federalist and the Allegany
Freeman, for one month at least, of the time and places where the
books shall be opened to receive subscriptions for stock for the
road aforesaid, at which time and places at least two of the said
commissioners shall attend, and shall permit and suffer all persons
who shall offer to subscribe, in person, or by attorney lawfully authorised,
in the said books, which shall be kept open for that purpose
at least four hours in each day, Sundays excepted, for the
space of three days, if three days shall be necessary; and if at the
expiration of the said first three days the said books shall not have
for the said road the full number subscribed, the aforesaid commissioners
may adjourn from time to time, until the number of shares
shall be subscribed, of which adjournment public notice shall be
given in the newspapers aforesaid; and when the said subscriptions
in the said books shall amount to the respective numbers aforesaid,
the same shall be closed; Provided always, that every person
who
shall subscribe in his own name, or in the name of any other person,
shall upon subscribing pay the attending commissioners one
dollar for every share to be subscribed, out of which shall be paid
the expenses attending the taking such subscriptions, and other
incidental charges, and the remainder shall be deposited in the
Cumberland Bank of Alleghany, for the use of the said corporation,
as soon as the same shall be organized, and the officers chosen as
hereinafter mentioned. |
Subscribers to
meet in order to
organize corporation. |
3. AND BE IT ENACTED, That so soon as twenty
thousand dollars
of the stock aforesaid shall have been subscribed, the aforesaid
commissioners shall, as soon as conveniently may be, give
thirty days notice in the newspapers aforesaid, of the time and
place by them appointed for the subscribers to meet and organize
the said corporation, and by ballot to choose, by a majority of the
votes of the subscribers, to be delivered in person or by proxy
duly authorised, one president and six managers, one treasurer,
and such other officers as shall be deemed necessary, to conduct
the business of the said company until the first day of January
next, and until like officers shall be hereafter chosen, and make
such by laws, rules, orders and regulations, as do not contravene
the laws and constitution of this state, and may be necessary for
well governing the said company; Provided always, that each subscriber
to the company aforesaid shall be entitled to one vote for
each share of stock by him subscribed. |
| Stockholders incorporated. |
4. AND BE IT ENACTED, That the stockholders
in the said company
be and they hereby are incorporated and constituted a body
politic, by the name of The Potomac Turnpike Company, and by
the said name and style the said subscribers, and their successors,
shall have succession during the continuance of this incorporation,
and shall have all the privileges and franchises incident to a corporation,
and shall be capable of taking and holding the capital
stock, and the increase and profits thereof, and of enlarging the
same from time to time by new subscriptions, on the original
terms, in such manner and form as they shall think proper, if such
enlargement shall be found necessary to fulfil the intent of this
act, and of purchasing and taking to themselves, and their successors,
in fee simple, or any lesser estate, all such lands, tenements,
hereditaments and estate, either real or personal, as shall |
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