The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1876-05-27
CHAPTER l96.
To Incorporate the National Railroad
Company.
AN ACT
To Incorporate the National Railroad Company o
MARYLAND

AN ACT
To incorporate the National Railroad Company OF
Maryland
Section /. BE It enacted by the General Assembly
of Maryland, That the name ami style OF this com
pany shall be the National Railroad Company Of
Maryland.
Sec . And be 1t enacted, That the object of this
company shall be to connect Washington with the
Pcnnsyyanian system Of Railroads through or near
Brookyie by the most feasible and direct railroad
Sec 8 And be Il enacted, That the capital stock
Of said company shall be two millions Of dollars,
divided into forty thousand shares Of ffty dollars
each.
Sec l. And be it enated, That Benjamin Lounds
Jackson, Alexander K sheppard Richard 7. Mer-
rick. A. g. Riddle, Anthony Hyde, Frederick r.
Stanton, and William Thompson, of the District Of
Columbia; A. b. Davis, Montgomery Blair, Washing
ton Bowie and Francis Miller, of Montgomery cout-
ty; William B. Matthews. Dennis Gather and John
X. Clarke OF Howard county; and John X. Iongwell,
John 4, smith, Jacob y. Mccomas and Thomas +.
Sheppard, OF Carroll county DO and they are hereby
appointed commissioners with power and authority
10 open books and receive subscriptions 10 the cap
tai stock Of said company according to the terms
forth In the next succeeding section OF this act.
Sec. 8. And be II enacted, That the said commits
sioners shall not be less than seven In number and
they Of majority o. then ~ may cause books 70 be
the capital stock of the said company at such time
or times and at such place or places as they may
deem expedient, after having given notice Mt least
once week for three successive weeks In one or
more newspapers published In the county or city In
which books OF subscription are to be opened ss
See. G. And be Il enacted That upon the first open
ing Of said books they shall be kept open for at feast
ten successive days from ten o'clock A. NJ until two
O'Clock r. NJ and II at the expiration OF that period
such subscription to the capital stock Of said com
pany is necessary TO Its incorporation shall not
have been obtained, the said commissioner or a
opened from time TO time after the expiration OF the
said ten days for the space OF twelve months there
of the company shall be subscribed, II not sooner
subscribed and II OF the said commissioners shall
die, resign or refuse TO act during the continuance
er may be appointed In his stead by the remaining
commissioners or majority OF them.
Sec J. And be Il enacted, That the capital stock
tfty dollars each, which may be subscribed for by
individuals. or by any other corporation which may
as two hundred and fifty thousand dollars OF said
capital stock shall be subscribed and paid In IN ac-
tua cash the subscribers Of the said stock their sue
cessors and assigns shall be thenceforward and not
before entitled TO exercise corporate powers under
the name and title aforesaid and by that name shall
be thenceforward and not before capable in law of
purchasing holding. selling, leasing and conveying
estates, real, personal and mixed 30 far shall be
necessary for the purposes hereinafter mentioned,
sd no ,a, aa M nnre
not before, sue and be sued, and may have and use
common seal. which they shall have power 20 alter
renew at their PLEASURE and shall thenceforward
and not before have enjoy and may exercise ali the
powers, rights and privileges which other corporate
bodies may lawfully do, for the purposes mentioned
Sec. s. And be II enacted, That upon every sucb
subscription there shall be paid at the time OF sub
scrbng % inc saa commissioner q @ their agent.
one dollar on every share subscribed and the resi-.
due thereof shall be paid such insiallments and
and q d ~ iae
payment shall be demanded Of any installment un-
mi at least sixty days public notice Of such demand
shall have been given by the said president and d.
rector and II any subscriber shall fail or neglect 10
pay any installment or any part Of said subscription
thus demanded lot ne sbaee q sixty days nextaer
stock ON which 1t Is demanded shall be forfeited 10
the company, and may be sold BY the said president
and directors for the benefit of the company but the
president and directors may RENT, any such forfeit
lure on such terms as they shall deem proper
Sec. Q. And be II enacted, Tint II the subscription
said company shall not be obtained within Ave years
after the frst opening Of the subscription books BY
shall be null and void. and the said commissioner
ater dischargng the expenses Of opening the books
shall return the residue o. the MONEY paid IN upon
subscriptions 10 the several subscriber In proper
proportions 70 the sums respectively paid In by
them.
IL two hundred and fifty thousand dollars Of me
capital stock shall have been subscribed or III not
within i've years afler the rStopenng Of the books
the said commissioners. or majority Of them shall
call general meeting OF the subscribers atsuch time
oce % that required a the opsnna Of IN sns
scription books Of the said company. and al such
scripson books beorethc scrb@rs then AND Ny ser
present and thereupon the said subscribers or 4
majority Them shall elect twelve directors by bal
lot 10 manage the affairs of said company and these
twelve directors, or majority OF them, shall have
the power OF eleefing President Of said company
either from among The directors or Others. and 81
allowing him such compensation for his services a
they may deem proper; and in said election and on
other occasions wherein vote or the stock hoiders
q ssid company Y 70 be taken each siockhoder
H. him or her. and every stockhoidcr may icpute
any other person 20 vote and act for e. him or her
said or any three or more Il them, shall be IN
judges Of the said irxt election OF directors -
Sec. Il. And Be Il enacted, That 70 continue The
company twelve directors shall be chosen Annually
on the first Monday Of May In every year in the
comfy 9, city n Yhieh ,hs principal oee q the
= Sec s a. Ana g. ii enacted, THAT the drsc,on Of
power o appoint judges ali secons ana y e ess
president Of said company either from among the
directors or Others, and TO allow him such compen-
II any vacancy shall occur BY DEATH resignation or
refusal 70 act Of any president or director before the
year for which he wss elected has expired person
may be appointed by the president and directors d
said company or majority ofthem; aud the presi.
aen, sna Sssc,o[ o. s company sha hold and
and directors, and all elections which arc BY thiI
act or BY the bylaws OF said company 10 be made or
particular day or At particular time II not madl
On sncn day or AZ such time, may be made within
~: y Ana y i snac,sd. That general paeeiip,
annually az the time and plkco appointed for hi
election Of the president aud di1ecoIs q said com
Interval between said annual meetings By the brc-i
dent and directors or majority Of them or By Iock
holdcn owning At leastone fourth Of the whole stoc|
sS inn AZ gPSn s " hy days public notice.