The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1866-05-19

Company of Baltimore, and to authorize
the Mayor aud City Council of Baltimore,
the Northern Central and Western Mary
land Railroad Companies and the Canton
Company to subscribe for the capital
stock thereof, and TO endorse the Mort
gage Bonds Of the said Company.
Section |. Be it enacted by the General
Assembly of Maryland, That John W. Ran
DELPHI, Chauncy Brooks, Horace Abbott,
William A. Fisher, Alfred Mace, Jesse Ty-
son, Samuel Shoemaker, Doct. &. II. Tyler,
Thomas Booze, f. Littig Shal'er, 5. }. Car,
roll, Chas j. Baker, and Evan ]. Ellicott
be, and they are hereby appointed Commis,,
sioaers, under the direction of II majority of
whom subscriptions may be received to the
capital stock of the Union Railroad Com
pany, which is hereby incorporated; and the
said Commissioners or a majority of them,
may cause books to be opened at such tine
and places as they may direct, for the pnr.
pose of receiving subscriptions to the capital
stock of said company. after having given
such notice of the times and places OF open,
ing 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 10 o clock A. NJ, to two clock
p. NJ, and if within that period such a sub,
scription to the capital stock of said com,
pany as is necessary to its Incorporation shall
not be obtained, the said Commissioners, or
a mai ority 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 subscribed and the said
Commissioners or a ma ority of them, may
appoint an agent or agents to receive sub
scriptons to said capital stock, and each of
said Commissioners may individually receive
such subscriptions. and the subscriptions
thus privately obtained shall be as valid
as those received by the Commission.
crs at the opening of the books as aforesaid;
and if any of the said Commissioners shall
die, resign or refuse to act during the con
tinuance Of the duties dcvolved upon them
by this act, another may be appointed in his
stead by the re naming Commissioners or
majority Of them.
Section ,. Be it enacted, That the capital
stock of said company shall be six hundred
thousand dollars in shares of one hundred
dollars each, and AS soon as fifteen hundred
shares are subscribed, the subscribers, their
successors and assigns, shall be, and they
are hereby declared to be incorporated into
= company, by the name of the Union Rail
road Company of Baltimore, and by that
name shall be capable in law of purchasing,
holding, selling, leasing and converting rs
tates real, personal and mixed, so far as
shall be necessarily for the purpose herein
mentioned, aid no further. and shall have
perpetual succession. and by said corporate
name s,ay sue and be sued, and may have
and use IA common seal, which they shall
have power to alter and renew at their pleas
ure and shall have, enjoy, and may eXer
else all the rights and privileges which other
corporate bodies may lawfully do for the
purposes herein mentioned.
Section 3. And be it enacted, That the
4 ~ q 4, II,
Northern Central Railway Company, the
Western Maryland Railway Company and
the Canton Company, and any other corpor-
atoms chartered by this State, may and they
are hereby trlly authorised and empowered
severally and respectively, each on its own
account, to subscribe, as corporations. to
the capital stock of said com"any, 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 them re-
spcctivcly performed. and the first subscrip
tons of the said corporations, shall not be
deemed to cXhaH-t the power, but each OF
the said corporations may make other and
further subscriptions, if they may consider
the same eXpcdient and proper, and said
Mayor and City Council may from time to
time borrow money or issue certificates of
indebtedness to meet any installmentS of
such subscriptions, and each Of said other
corporations is authorised to issue its bonds
to the amount necessary to meet such sub
scriptions, and to secure such bonds by
mortgage or otherwise.
Section 4. And be it enacted, That the
said corporations thus becoming stockhold-
ers in the said Union Railroad Company,
shall severally be entitled to representation
in the Board of Directors of said company.
l. Al
speclive subscriptions to the capital stock Of
said company, which Directors shall be APP
pointed by a convention of the two branches
of the City Council. upon the nomination Of
the Mayor and by the other corporations as
other corporate acts are by those bodies re-
spectiveiy performed, and the said corpora
tons shall! be respectfully entitled to be rep
resented at all general meetings of the stock.
holders of the said Union Railroad Com.
pany, and shall be entitled to vote the whole
number of shares held by them respectively
npon all questions arising at such meetings.
except in the election of Directors. the
choice Of which shall be left exclusively to
the Individual stockholders.
Section 5. And be it enacted, That upon
every such subscription there shall be paid
at the time Of subscribing to the Commits
sioners or their agents appointed to receive
such subscriptions, the sum of one dollar
per share, and the residue thereof shall be
paid i'll such installments, and at such times
aus may be required by the President and Di-
recors OF said company pr0tldcd, that not
more than one half of such subscriptions be
demanded in any one year from the com
'uencement of the work. nor any payment
demanded until at least thirty days public
notice of such demand shall be given by the
said President and Directors, by advertise
,N,,t II. Il. I I