The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1876-05-19
LazUs--- General.
| CHAPTER 1861

CHAPTER 1866
TO INCORPORATE THE NATIONAL
RAILROAD COMPANY.
AN ACT
To Incorporate the National Rail Company
of MARYLAND.
Section ]. Be it enacted by the General As
sembly Of Slaryland, That the name and yle of
this company shall be the National Railroad
Company of Maryland.
Sec 2. And be it enacted That the object of
this company shall be to connect Wash ngton
with Tie Pennsylvania system of Railroads
through or near Brookv;lle, by the most feasible
and dccct railroad communication practicable.
Sec. 3. And be it enacted, That the capital
stock of said company shall be two millions of
dollars, divided into forty thousand shares of
fifty dollars each.
Sec. 4. And be it enacted, That Benjamin
Lounds Jackson, Alexander r. I Sheppard, Rich
ard I Merrick, a. G. Riddle, Anthony Hyde,
Frederick P. Stanton, and William Thompson,
Of the District of Columbia ; A. B. Davis, Mont
gomery Blair, Washington Bowie and Francis
Miller, Of Montgomery county; William b.
Matthews, Dennis Gather and John r. Clarke
Of Howard county and John X. Longwell, John
L. Smith, jacob f. McComas and Thomas +.
Sheppard of Carroll county, be and they are
hereby appointed commissioners with power and
authority to open books and receive subscrp-
tions to the capital stock of said company ac-
cording to the terms set forth in the next sue
ceeding section of this act.
Sec. 5. And be it enacted, That the said COM
missioners shall not be less than seven in num-
Der, and they, or a majority of them, may cause
books TO be opened for the purpose of receiving
subscriptions 10 the capital stock of the said
company, at such time or times and at such
place OF places as they may deem expcdient,
after having given notice at least once a week
for three successive weeks in one or more news
papers published in the county or city in which
books of subscription are to be opened as afore-
said
Sec. g. And be it enacted, That upon the first
opening of said books, they shall be kept open
for at least len successive days, from ten O'Clock
A. NJ. until Two O'Clock P. NJ, and if at the
expiration of that period such a subscription TO
the capital stock of said company as is necessary
to its incorporation shall not have been OBJ
tanned the said commissioners, Or a majority of
them may cause the said books to he opened
from time to time after the expiration of the
said ten days, for the space of twelve months
thereafter, Of until the sum necessary TO the
incorporation of the company shall be sub
scrbed, if not sooner subscribed and if any of
the said commissioners shall die, csign or re-
fuse to act during the continuance of the duties
devolved upon them by this act another may
be appointed in his stead by the remaining CO ~
missioncrs or majority Of thgm.
Sec. :. And be it. enacted, That the capital
stock of this corporation shall be divided into
shares of fifty dollars eadl, which may be sub
scribed for by individuaG, or by any other cor
poration which may b9 authorized to subscribe
for the same and as Coon as two hundred and
fifty thousand dolarSof said capital stock shalt
be subscribed and paid in, in actual cash the
subscribers of Che sad stock, there successors
and assigns shall be thenccforward, and not be-
fore, entitled to exercise corporate powers un-
der the name and title aforesaid, and by that
name shall be theuceforward, aad not before
capable in law of purchasing, holding, selling,
leasing aud conveying estates, real personal and
mi led, so far as shall be necessary for the pur-
poses hereinafter mentioned, and no further,
and shall have perpetual suct cssion and by that
corporate name may thenceforward, and not
before sue and be sued, and may have and use
a common seal. which they shall have power to
alter or renew at their pleasure; and shall
thenceforward, aad not before, have enjoy and
nay exercise all the powers, tights and priyi-
leges which other corporate bodies may law
fur 10, for the purposes mentioned in this
Sec 8. And be it enacted, That upon every
such subscl ption there shall be paid at the time
Of subscribing TO the said commissioners or to
their agents appointed to recevessuch subscrip-
tons the sum Of one dollar on every share sub
scribed aud the residue thereof shall be paid
on such instalmerts, and at such times as it
may be required by the president and directors
of said company; provided, that no payment
shall be demanded of any installment, until at
least sixty days public notice of such demand
shall have been given by the said president and
directors; and if any subscriber shall fail Or
neglect TO pay any installment, or any part of
said subscription thus demanded for the space
of sixty days next after the time the same shall
be due and payable, the stock on which it is
demanded shall be forfeited to the company,
and may be sold by the said president and di-