PRIVATE ACTS. 1437

coke company to do under the laws of the State of Mary-
land; to acquire and hold any real estate and personal prop-
erty which may be necessary for the conduct of its business;
provided, that the said company shall at no time hold or
possess in this State more than ten thousand (10,000) acres of
land; to sue and be sued in any court whatsoever; to make and
use a common seal and alter the same at pleasure; to make
such by-laws, rules and regulations, and generally to do all
things proper and necessary to carry into effect the provisions
of this Act, or to promote the objects and designs of the com-
pany hereby incorporated. The home or principal office of said
company shall be located at Oakland, Garrett county, in the
State of Maryland, but said company may, through it's board
of directors, establish branch offices within or without the
State of Maryland, as the business of said company may from
time to time require.

SEC. 2. And be it enacted, That the capital stock of said
company shall consist of one hundred shares of the par value
of one hupdred ($100) dollars par value, with the privilege o/
increasing the same from time to time to the sum of one hun-
dred thousand ($100,000) dollars, or one thousand shares, by a
vote of the stockholders at any general or special meeting
called for that purpose; provided, however, that the capital
stock shall not be increased except by a two-thirds vote of all
the stock theretofore issued; and said incorporators or a
majority of them, shall have power to open books for sub-
scriptions to said stock, at such times and places and in such
manner as shall be determined and regulated by the said in-
corporators, or a majority of them, and when fifty (50) shares
have been subscribed for, and fifty (50) per cent, of such sub-
scriptions have been paid in, either in cash or its equivalent, by
an exchange of stock for lands and other property for the use
of the corporation, the stockholders may elect a board of direc-
tors, composed of not less than seven (7) nor more than eleven
(11) persons, to serve until the ensuing annual election; and
the directors so elected when said company shall have been
organized may and they are hereby authorized and empow-
ered to have and exercise in the name and behalf of said com-
pany, all the rights and privileges which are hereby conferred
on said company; and should the capital stock at any time be
increased, the stockholders at the time of such increase shall
be entitled to a pro rata share of such increase upon paying
the price theretofore determined' at such stockholders' meeting,
at which said stock shall be sold.

SEC. 3. And be it enacted, That said corporation, before pro-
ceeding to exercise any of the powers and franchises herein