Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1866-06-15
LAWS OF MARYLAND.
PUBLIC GENERAL-[oFrraAL,l

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Z Section /. BE ii enacted 81 The General As
sembly Of Maryland That Jacob Brandt, Jr.,
Robert Lehr, Henry R. Hazelhurst Daniel
Wiegand, Thomas G. Jenkins, VIM. S. Ray
ner and others, their successors and assigns,
be and they are hereby created and made a
corporation and body polite, by the name
and title of the Baltimore and Savannah
Steamship Company, and by that name and
title shall have succession, and shall be
capable in law to sne and be sued in any court
of law or equity to have and use a common
seal, and to alter the same when deemed ex-
pedient; and generally to do all such acts as
shall be proper and necessary for the purpose
Of employing one or more steamships to navi-
gate the Chesapeake, its tributaries and the
Atlantic coast, for the conveyance of pas
sengers, towing Of vessels and the transporta-
ton ofmerchandize or other articles
Sec. 2. And be IL enacted, That the capital
stock Of The said company shall be one
hundred and thirty thousand dollars, divided
into shares of one hundred dollars each and
it shall be lawful for said company hereby
created to enlarge the capital of said COM
pany, so as the capital of said company
shall not exceed FIVE hundred thousand dol
dollars each, to be subscribed for or disposed
of from time to time in such manner as the
resolutions or bylaws made in pursuance of
this charter shall provide.
Sec. 3. Aad be IL enacted, That the affairs Of
said company shall be managed by Presi-
dent and Board of Directors consisting of six
persons, the President and Directors to be
chosen sout of the stockholders of said COM
pany, the President to be member of said
af ~ a n. a n.
ors shall be elected on the first Monday of
February in each and every year, or within
thirty days thereafter, to continue in Office
until new election; majority of said
Directors at all meetings shall have power to
act as if all were present; each stockholder
shall vote in person or by proxy, and shall be
entitled TO as many votes as the shares OF
which he or she shall be the owner.
Sec. A. And be IL enacted, That the Board of
Directors shall have power and authority to
appoint and employ allisuch agents, officers,
engineers, laborers and servants whatsoever, as
they may deem necessary for thetransaction of
the business Of the company, and may remove
any of them at their pleasure; and to deter
mine and fix their salaries or wages that
they raay contract, agree to rent, lease pur-
chase or build, all such lands, tenements
chattels, boats. vessels, stages, carriages,
materials, rights, privileges and effects what
soever; and to make and repair or cause to
be made and repaired, all such steamboats,
roads, wharves, buildings, boats, vessels
carriages and conveniences as they shall deem
necessary for effecting the object of the COM
pany, and the same or any part thereof, to
sell or otherwise dispose OF, when in their
judgment il will be to the interest of the
company and that they prescribe the mode
of conducting the elections of said company,
the manner and evidence oftransfers ofstock,
the condition of forfeiture thereof; and are
hereby empowered to pass all bylaws and re-
solutions requisite for the welfare of the com
pany propided, such bylaws and resolutions
shall not be contrary to the laws of the United
States or the laws of the State of Maryland,
or inconsistent with the provisions Of this
charter.
Sec. s.. And be IL enacted, That the Presi-
dent and Directors shall declare dividends of
the profits realized if any, by the company
or on SO much thereof from time to time as
majority of them shall deem expedient.
Sec. 6. And be il enacted, That the shares
Of the stock aforesaid may be transferred by
the owners thereof, their executors, admins
traitors or attorney duly authorized in book
to be provided fer that purpose, and in such
manner as the Directors may determine.
Sec. Z. And be 1t enacted, That the Board Of
Directors or the stockholders holding major
ity OF the stocks shall have power at any time
to call a general meeting of the stockholders
by giving notice at least three times week
for three weeks, in two of the newspapers in
the city Of Baltimore, for the time and place
of such general meeting of the stockholders,
and at all such meetings Of the stockholders.
the votes shall be taken as in the manner OF
electing Directors, and a majority of the whole
stock of the company shall have the power of
closing and winding up the concerns of said
company.
Sec. 8. -A,ad be IL enacted, That the said cor
poration is hereby prohibited from issuing any
note, certificate, device or evidence Of debt 10
be used as currency and the right is hereby
expressly reserved to the General Assembly of
Maryland to repeal this at pleasure.
Sec. Q. And be IL enacted That nothing
herein contained shall be so construed as TO
authorize the said Corporation to go into
operation until one thousand shares Of stock
are subscribed, and twenty-five thousand dol
lars paid in, and for every additional hundred
thousand dollars of capital stock fifty thou
sand dollars subscribed and twenty-five thou
sand dollars paid in.
Sec. 10. ind be IL enacted, That this act
shall go into effect from and after the date of
its passage.
CHAPMAN HARDWOOD,
Secretary Of the Senate,
WILLIAM R. COLE,