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hereby incorporated to acquire by condemnation or
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use in. any way the lands owned or controlled by
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the Chesapeake. and Ohio Canal Company, without
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the consent of said company is first had and obtained.
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SEC. 3. And be it enacted, That the capital stock of
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Capital stock.
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said company, shall not exceed the sum of two mil-
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lions of dollars, divided into shares of fifty dollars
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each, transferable in such manner as may be provid-
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ed for by the by-laws of said company, and each
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share thereof shall entitle the holder to one vote in
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person or by proxy at all meetings of the stock-
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holders.
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SEC. 4. And be it enacted, That for the purpose of
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obtaining subscriptions to the said capital stock,
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Open books of
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books shall be opened in the City of Baltimore under
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subscription
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the direction of the said corporaters, or a majority
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of them, after giving ten days' public notice of the
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same in two newspapers issued in the said city, and
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in the event of the entire amount of the said capital
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stock shall not have been then subscribed, the cor-
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porators aforesaid may from time to time receive
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further subscriptions to the same, but the aggregate
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amount of the capital stock, shall in no case exceed
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the amount hereinbefore authorized, and one dollar
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per share shall be paid at the time of subscribing,
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and the remainder from time to time as the corpora-
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tors or directors may determine.
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SEC. 5. And be it enacted, That the affairs of the
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Management.
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company hereby incorporated shall be managed by
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a board composed of a president and five directors,
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who shall be elected by the stockholders thereof at
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a general meeting called for that purpose, and shall
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hold office for one year, and until their successors
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shall have been elected and qualified; and in the
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event of the death or resignation of the president or
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any of the directors during the term for which they
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were so elected, the remaining directors shall fill the
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vacancy thus occurring for the remainder of the
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term.
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SEC. 6. And be it enacted, That as soon as one-half
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Call general
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of the capital stock of the said company shall have
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meeting.
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been subscribed, according to the provisions of this
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act, the corporators named in the first section, shall
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