Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1876-05-12
LnzOs---- General.

] IL VI TTI-V
! Bench Of Baltimore city, if acknowledged in
said city, in order that the said Judge may de-
trrmine whether said certificate is in conformity
with the law and if the said Judge shall 50 de-
termine he shall certify his said determination
upon the said certificate which shall be forward
ed to the Secretary OF State who snail record
and carefully preserve the same in his office and
a COPY thereof duly certified by the Secretary of
State under the Great Seal Of the State Of Mary
land shall be evidence Of the existence of such
company.
Sec A. And be it enacted, That when the
| foregoing provisions nave been complied with
the persons named as coTporators in said certifi-
cate are hereby authorized to carry into effect
| the objects named IN said certificate, IN accord
ance with the provisions of this Act, and they
aud their associates, successors and assigns by
the name and style provided in said certificate
! shall thereafter be deemed a body corporate with
Succession with power to sue and be sued, plead
and be impleaded, defend and be defended, con-
tract and be contracted with, acquire and con-
vey at pleasure all such real and personal estate
as NAV be necessary and convenient to carry into
effect the objects of the Incorporation, to make
1 and use a common seal, and the same to alter
at pleasure and do all needful acts to carry into
effect the objects for which it was created and
such company shall possess all the powers and
be subject to all rules and restrictions provided
by this Act.
Sec. 5. And be it enacted That said corpora
tons shall be authorized to construct and main
tain railroad with single or double track,
with such side tracks, turn OUTS offices and de-
pots as they may deem necessary between the
points named in the certificate, commencing at
or within and extending to or into any town,
city or village named as the place of the termini
of such road, and construct branches from the
main line to other towns or places within the
limits of any county through which said road
may pass.
Sec G. And be it enacted. That the capital
stock of such company shall be divided IN to
shares of fifty dollars each and consist OF such
sum as may be named in the certificates such
shares shall be regarded as personal property,
shall be subject to execution at law, and to
taxation as other personal property.
Sec. 7. And be it enacted That an instaIment
of five dollars in actual cash on each share of
stock shall be payable at the time of making
the subscription and the residue thereof shall be
paid in such ms talments and at such times and
places and to such persons as may be required
by the directors of such company.
Sec. s. And be it enacted, That if any in
stalment of stock shall remain unpaid for sixty
days after the time it may be required, whether
such stock is held by any assignee, transferree
or the original subscriber, the same may be
collected by action of debt o II the directors may
sell the stock so unpaid at public auction for the
instament then due thereon first giving thirty
days public notice of the time and place of sale
in some newspaper in general circulation in the
county where such delinquent stock holders re-
side; at the time of making such subscription or
becoming such assignee or transferree, or of his
actual residence at the time of said sale, or if
such stock holder reside out of the State, such
publication shall be made in the county where
the principal Office of the company is located
/ L.. g
| paying the amount due on said stock, the same
shall, on demand be paid over to the owner ; if
the whole of said instalment be not paid by such
sale the remainder shall be recoverable by an
action of debt against the subscriber, assignee
or transterce.
Sec. 9. And be it enacted, Tha. whenever
any railroad company heretofore incorporated
or created and Incorporated under the provisions
of this Act shall, in the opinion of the directors
thereof, require an increased amount of capital
stock, they shall, if authorized by the holders
of three-fourths of all of the stock file with the
Comptroller of the State a certificate setting
forth the amount of such desired Increase and
thereafter such company shall be entitled to
have such increased capital as is fixed by said
certificate.
Sec. 10. And be it enacted That the persons
named in said certificate of the corporation or
books to be opened for receiving subscriptions
TO the capital stock of said company at such
time or times and at such place or places as they
may deem eXpedient, after having given at least
thirty days notice in a newspaper published or
generally circulated in one or more counties
where books of subscription are to be opened, of
the time and place of opening books, and so soon
as ten per centum on the capital stock shall be
subscribed they may give like notice for the
stock holders to meet at such time and place as
they may desi gnate, for the purpose of choosing
seven directors who shall continue in office until
the time fixed for the annual election and until
their successors are chosen and qualified, at the
time and place appointed; directors shall be
chosen by ballot by such of the stock holders as
shall attend for that purpose either in person or
by lawful proxies, each share shall enttle the
owner to one vote and plurality of votes shall
be necessary for a choice, but after the first
election of directors no person shall vote on any
share on which any instalment is due and I'M
paid, the persons named in such certificate,
such of them as may be present, shall be in-
spcctors of such election and shall certify what
persons are elected directors and appoint the
time and place for holding their first meeting
a majority of said directors shall form board
and be competent to fill vacancies in their board,
make bylaws and transact all business of the
corporation; new election shall be annually
held for directors at such time and place as the
stock holders, at their first meeting, shall de-
termine, or as the bylaws of the corporation
may require; and the directors chosen at any
election shall, so soon thereafter as may be con-
venient, choose one of their number to be Presi-
dent, and shall each take on oath or affirmation
faithfully to discharge his duties, and they shall
from time TO time, make such dividends of the
profits of said company as they may think
proper.
Sec IL, And be it enacted, That the said
president and directors or their agent or agents
authorized by them, may agree with the owner
or owners of any land, earth, gravel, stone,
timber, streams or materials or any improve
meuts which may be wanted for the proper con-
structon or repair of any said roads or any of
their works for the purchase and use and occu-
patton or diversion of the same, and if they
cannot agree or if the owner or owners of any
of them be an infant, Jeme COVERT who Is not
possessed of the property TO her sole and sepa-
rate use or authorized to contract in reference
to the same, non compos mentis or out of the
county where such property wanted may lie,
when such rty may be wanted, or for any
other cause be legally incapable of contracting,
application may be made by the said company to
any Justice of the Peace of such county, who
shall thereupon issue his warrant, under his
hand and seal, to the sheriff of the county, re-
quring him to summon a jury OF twenty of
the inhabitants of said county, above the age OF
twenty-one years and qualified to act as Jurors
under the laws of this State, not related to the
parties nor in any wise interested, TO meet on
the lands or near the materials or other property
-,ry, ,.fNf