Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1827-03-19
AN ACT
TO INCORPORATE THE BALTIMORE AND OHIO,
RAILROAD COMPANY,
Passed at December Session, 1926

n
Passed al December Session, 1926.
SECTION |. BE ii enacted by the General Assem-
bin of MARYLAND, That Isaac Mckim, Thomas
EIlicott. Joseph w. Patterson, John Mckim,
Jr. WIN. S,euart, Talbot Jones, Roswell l.
Colt. George Brown and Evan Thomas, be, *
thew are hereby appointed Commissioners, un-
der the direction Of a majority of whom, sub
scrip,ions may be received TO the Capital Stock
of the Baltimore and Ohio Rail Road Company
hereby Incorporated; and they, ora majority OF
them. NAV cause Booksto be opened at such
times and places as they may direct Tor the
,--..---.-c---.:.:~-.,. hnJ; aucr having given
such notice Of the times and places of opening
the same, as they may deem proper, and that
upon the first opening OF said books. they shall
be kept open for at least ten successive days,
from 10 O'Clock, A. M. until 2 O'Clock, p NJ.
and il at the expiration Of that period, such a
subscription to the capital stock Of said Com
pany, as is necessary to its incorporation, shall
not have been obtained, the said commission
ers, or a majority of them, may cause the said
books 10 be opened, from time to time, after the
expiration Of the said ten days, for the space Of
twelve months thereafter, or until the sum ne
cessary 10 the incorporation of the company
shall be subscribed if not sooner subscribcd &
il any ofthe said Commissioners shall die, re-
sign, or refuse to act during the continuance of
the duties devolved upon them, by this Act, an
other may be appointed in his stead, by the re-
naming Commissioners, or ma jorily ofthem
SEC. 9. find be enacted, That the Capital
Stock Of the said Baltimore and OHIO Rail
Road Company shall be Three Millions of Dol.
lars, in shares Of One Hundred Dollars each, of
which ten thousand shares shall be reserved for
subscription by the State of Maryland; and FIVE
thousand for the city Of Baltimore for the space
Of IL months after the passage Of this Act by
the Legislature of Maryland, and the remaining
fifteen thousand shares may be subsc ribed for
by any other Corporation, or by individuals, s.
that as soon as ten thousand shares of the said
capital stock shall be subscribed, the sabscrib-
ers Of the said stock, their successors and as.
signs shall be, and they are hereby declared 10
be, incorporated into Company, by the name
Of the Baltimore and Ohio Rail Road Company
and by tina, name shall be capable in law of'pur-
chasing, holding, selling, leasing and conveying
estates, real, personal and mixed, SO far as shall
be necessary for the purposes hereinafter men.
toned and no farther, and shall have perpetual
succession, and by said corporate name NAV
sue aud be sued, and may have and use com.
mon seal, which they shall have power 10 alter
or renew at their pleasure, and shall have, en-
JOY, and may exercise all the Powers, Rights &
Privileges, which other corporate bodies NAV
lawfully do Tor the purposes mentioned in this |
act
SEC. ). find belt enacted, That if more Than
Fifteen Thousand Shares shall be subscribed
TO the Capital Stock OF said company, not re.
served TO the State of Maryland or % the Civ |
OF Baltimore, the said Commissioners, or ma
Jority OF them, shall reduce The subscription to
hteen thousand shares, by striking off from the
largest number of shares in succ ession mill 1.-Two
subscriptions are reduced 10 fifteen thousand
shares, or all the subscriptions to one share
and If there be still an excess, then lots shall be
drawn by the commissioners, to determine who
are to be excluded.
SEC. 4. find be it enacted, That upon every
such subscription, there shall be paid a, The
time OF subscribing, to the said Commissioners
or to their agents, appointed to receive such
the sum of One Dollar on each
Share subscribed, and the residue thereof shall
De paid in such instalments, and at such times
IS it may be required by the President and Di