The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1866-05-05
PASSED SPECIAL SESSION, 1853
G. HARDWOOD, -.
secretary OF the Senate.
WILLIAM r.. COLE, a,t.f fF.Y 49,.
Chiet Clerk Of the House of Delegates.
CHAPTER l22.

CHAPIER 1Z2. ..t,s,l.-
AN ACT to incorporate the Maryland
Land and Emigration Company.
SEC. /. Be 1t enacted By the General As
sem6ly of Maryland, That Christopher C.
Cox, Bobert Fowler, John Goats, Jacob
Tome and Adnah Anderson, and oil and ev-
cry other person who with them, or in their
stead shall hereafter becoms members OF
Maryland Land and Emigration Company,
in the manner hereinafter mentioned, their
successors and assigns shall be and are
herby created and declared to be body
Corporate and politic,i bby the name and
style Of the Maryland Land and Emigra-
tion Company, and by that. name shall aRt!
may have perpetual succession, and be ca
pable in law of purchasing, holding, im'
proving and disposilg Of property, real,
personal and mixed, for the purposes here
matter authorized and may, sue and be
sued, plead and be impleaded, answer and
defend in all courts oflaw and equity, aud
may make, execute and deliver, or have or
cause to be made, executed and delivered
to them, all deeds, transfers, gifts, grants,
conveyances, covenants, contracts agree
ments aud bargains whatsoever necessary
for the purposes and objects Of said cOmpa,
ny, and may have and use q common seal,
which they shall have power to alter or re-
new at pleasure, and general to do every
other act or thing necessary to carry into
effect the provisions, objects and purposes
of this act, and not Inconsistent With the
laws of this State or Of the United States.
Sec. 2. A,ad be 1t enacted, That the pur-
poses aud objects for which the Maryland
Land and Emigration Company aforesaid,
is incorporated, or the purchasing Of large
tracts of luud in one or more of the conn-
ties of the State, and the same to survey,
lay off into smaller tracts for tho purpose OF
establishing colony or colonies of ,Atneri-
eau or foreign born citizens, the locating
and laying of into streets town or towns
in tho vicinity of the said colony or colo
nies, the beautifying or improving OF said
town or towns by erecting thereon stores,
dwellings, workshops, factories, buildings,
mills, furnaces, schoolhouses, churches, and
such other improvements as may be found
or deemed necessary TO give effect to the
object and purposes of this act, and to sell,
rent, lease, convey. grant on condition, or
otherwise dispose of, or use for manufacture
ing, mining or agricultural purposes any
part or parcel of the lands or water-powers
that shall or may become the property of
the said company, together with the build
ings and improvements thereon erected,
and the building and equiping of q steam
boat or steamboats, to ply on tho waters of
the Chesapeake and its tributaries, between
the said colonies and the city of Baltimore,
or.any other point deemed necessary to
carry out the provisions of this act, for the
purpose of conveying freight and passen-
gers, and charging tolls thereon. e.
Sec. 8. And be 1t enacted, That the said
Christopher @. Cox, Robert Fowler, John
Coats, Jacob Tome and Adnah Anderson,
or such ono or more of them, or their agent
or agents, as the Others, or 9 majority OF
them, shall for that purpose authorize and
appoint, may take and receive subscrip-
tions to the capital stock OF the said COM
pany, in such manner, on such terms as they
or majority of them, shall choose and
designate, in shares Of twenty five dollars
each to such amount as they may deem ne
cessary, not exceeding forty thousand
shares and any persons who shall become
holders, or entitled to one share or more
shares Of said stock, shall thereupon be.
come member of said Maryland Land and
Emigration Company hereby Incorporated,
and as such shall be entitled to ons vote
in person, or by proxy, at NIL meetings of
the stockholders for each share ofstoek SO
held by him or them, on which al! install
ments due shall have been paid and IN
til two thousand shares Of said stock shall
have been subscribed, or twenty five thous-
and dollars in cash shall have been paid
thereon, the said Christopher G. Cox, Rob.
ert Fowler. John Goats, Jacob Tome aud
Adpah Anderson. or q majority OF them,
shall have and may exercise all the corpo.
rate rights of the said Maryland Land and
Emigration Company and on receiving the
subscriptions and payments above proyld.
ed, they, or . majority Of them, shall call
a meeting of the stockholders, who when SO
met, in person or by proxy, shall choose
FROM among themselves by ballot q Presl.
dent and seven Directors, who shall serve
for one year from their said election, or un.
til others arc appointed, and at all such
elections the persons, being stockhoiders
having u majority of all the votes cast shall
be elected aud the said President aud
Directors so organized, and their success
sors, shall by their bylaws regulate the
time and manner of holding elections, pro
vide for filing vacancies by death, resigna'
ton or otherwise ; but 10 omission to elect
at the period appointed shall operate as q
dissolution Of the corporation.
Sec. a. And be IL enacted That the SAID
President and Directors, or majority Of
them, may do all acts necessary for the con
Quoting Of the business, aud carrying out
the objects and intentions of this act, may
appoint agents or other persons necessary
for accomplishing said objects, may make
all necessary bylaws aud regulations maJ
revise. alter or annnl tho same; may do
clare dividends as ascertained by them
may fix and regulate the timo or times
manner, terms and conditions OF receiving
further subscriptions within the. limit:
aforesaid) TO the capital stock, and OF al
| transfers of stock may call in all install
| ments on stock agreeably to the terms Q
! subscription, and enforce payment thereof
may prescribe the conditions of forfeltnr'
| in cases of non payment, and dispose Of 81
or every such forfeited stock as they may
| in their. discretion, deem proper AM
expedient provided, that nothing hOreiI
contaihedShall be SO construed as to author
ise them to forfeit the stock OF snbscrl
ber until ninety days notice is first given
and generally may do all things uecessar.
to carry ont; the objects and intentions Q
this act according to the true Intent an
meaning thereof.
Sec. 5. and be IL enacted. Thst notbirl
herein contained shall be taken or cor
1 1strtcd to authorize the said company eth
et direetlyior indirectly toexercise or us
tho bank privilege y f5siaea aai q 5ie'i
See- ,4,,d be it enacted, That the Gen
| oral Assembly reserves the right to alte
4 or tannui this act at plcasure.g ssi'sssss
i rSec.l7s AndrLe IA enacted, That this &C
shall take effect from the date 0f lts pas
sage. .aaiiibzea saA 81 q ias.lW \