Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1866-05-25
LAWS OF MARYLAND.
PUBLIC eEsERAL-lorylorAl.1
CHAPTER lla.

An Act to incorporate the Union Railroad
company OF Baltimore, and TO authorize the
Mayor and City Council Of Baltimore, the
Northern Central and the Western Mary
land Railroad companies and the Canton
company to subscribe FOR the capital stock
thereof and TO endorse the Mortgage bonds
Of the said company.
SRcrros / Be Il enacted by the General As
sensbly Of Maryland That John W. Randolph,
Chauncy Brooks, Horace Abbott, William A:
Fisher, Afford Mace Jesse Tyson, Samuel
Shoemaker, Doctor q. H. Tyler, Thomas
Booze, F. Littig ShafIsr, s. J. Carroll, Chas
J. Baker and Evan T. Ellicott be, and the
under the direction of a majority OF whom
subscriptions may be received to the capital
stock of the Union Railroad company, which
is hereby incorporated; and the said COM
missioners, or majority OF them, may cause
books to be opened Mt such times and places
as they may direct, for the purpose Of receiv-
ing subscriptions to the capital stock OF said
company, after having given such notice OF
the times and places Of opening the same as
they may deem proper; and upon the first
opening OF said books they shall be kept open
| for at least ten successive days, from ten
o'clock A. NJ Ito tive o'cloek, P. ~, and II
within that period such subscription TO the
capital stock Of said company as is necessary
to its incorporation shall not he obtained, the
said Commissioners, or majority OF them,
may cause the said books to be opened from
time to time for the space of twelve months
thereafter, or until the. sum necessary to the
| incorporation OF said company shall be sub
scribed and the said Commissioners, or
majority of them, may appoint an agent or
agents to receive subscriptions to said capital
stock. and each Of said Commissioners may
| individually receive such subscriptions, and
the subscriptions thus privately obtained shall
ba cali ivadb v IN D.
soners at the opening OF the books as afore-
said ; and il any of the said Commissioners
shall die, resign or refuse to act during the
continuance of duties devolved upon them by
this act, another may be appointed in his
stead by .he remaining Commissioners or
majority Of them. =
SIC 2. De IL enacted That the capital stock
of said company shall be six hundred
dollars in shares OF one hundred Thousand
dollars each. and rs soon as fifteen hundred
shares are subscribed, the subscribers, their
successors and assigns, shall be and they are
hereby declared to be incorporated into n
company, by the name of The Union Railroad
Company Of Baltimore, and by that name
shall be capable in law OF purchasing, hold
ing, selling, leasing and conveying estates
real, personal and mixed, gso far AS shall be
n necessary for the purpose herein mentioned
and no further, and shall have perpetual
succession and hy said corporate name may
sue and be sued, aud may have and use a
common seal, which they shall have power TO
alter and renew al their pleasure and shall
have, enjoy, and may exercise all the rights
and privileges which other corporate bodies
may lawfully do for the purposes herein
mentioned.
Sre. 3. And be IL Enacted, That the Mayor
and City Council Of Baltimore the Northern
Central Railway company, the Western Mary
land Railroad company, and the Canton
company and any other corporations charter
ed by this State, may and they are hereby
fully authorized and empowered generally and
respectively, each on its own account, to
subscribe, as corporations, TO the capital stock
: Of said company which subscriptions shall be
: made for the said Mayor and City Council by
ordinance, and by the other corporations in
the manner in which other corporate acts are
by hem respectively performed, and the first
subscriptions of the said corporations, shall
not be deemed to exhaust the power, but each
Of the said corporations may make other and
further subscriptions, If they may consider
the same expedient and proper, and said
} Mayor and City Council mny from time to
time borrow money and issue certificates OF
; Indebtedness to meet any instruments of such
: subscriptions, and each OF said other corpora
, tions is authorised to issue its bonds to the
amount necessary TO meet such subscriptions
and TO securesuch bonds by mortgage or other
wise.
SEC. q. And be Il enacted That the said cor
porations thus becoming Stockholders in the
said Union Railroad company, shall severaly
be entitled 10 a reprcseu tation in the Board OF
2 Directors of said company, commensurate with
2 the smount OF their respective subscriptions
TO the capital stock Of said company which
! Directors shall be appointed by a convention
of the two branches of the City Council, upon
the nomination of the Mayor, and by the
n nth oe of To Qct
by those bodies respectively performed and
the said corporations shall be respectively en-
titled TO be represented at all general meetings
| of the Stockholders of the said Union Rail-
road company, and shall he entitled to vote
the whole number of shares held by them re-
spectively upon all questions arising at such
a meetings, except in the election of Directors,
! the choice Of which shall be left exclusively
! 10 the individual Stockholders
Il SEC. 5. lind he IL ena-ted, That upon every
such subscription there shall be paid at the
n time of subscribing to the commissioners or
their agents appointed TO receive such sub
scriptions. the sum Of one dollar per snare,
and the residue thereof shal be paid in such
instruments and at such times as may be re-
quired by the President and Directors Of said
company proridei, that not more than one
9 half Of such subscriptions be demanded in any
one year from tho commencement of the
, work. nor any payment demanded until al
! least thirty days public notice of such demand
shall be given by the said President and Di-
= reetors, by advertisement, published at least
i once week for three weeks, in two of the
Baltimore papers; and If any subscriber shall
fail or neglect to pay instalments thus de
y manded for the space of sixty days next after
i the same shall be due and payable, the stock
e upon which the same shall be demanded
shall be forfeited to The company, and may b,
cold by the said President and Directors fol-
the benefit of the company, but the said Presi
dent and Directors may proceed for the col
lection of the same as in cases of other debts
J, or may remit such subscription or such for
: fixture as they may deem proper.
I SEQ. 6. And be- il enacted, That the affairs o
the said company shall be managed by a
R President and Board Of Directors, and such
other officers and agents as such President and
b Directors may deem necessary; that there
0 shall be one Director for each Ave hundred
shares Of stocs subscribed, and also an sddi-
tions, Director On the part Of the Mayor and