The Republican. [volume] (Oakland, Md.) 1877-current, 1906-08-16
PENN-GARRETT COAL MINING
COMPANY.



SECTION /. Be il enacted by the
General Assembly Of Maryland That
Robert C. McCandlish, Clarence Y.
Guard, Walter VI. Savage, Charles A.
Mitchell and David S. Custer, all Of
Garrett county, in State Of Maryland
and their associates and their successors
and all such other persons as shall here
after become stockholders in the COM
pany hereby incorporated, shall be and
they are hereby constituted a body
polite and incorporate by the name Of
the Penn-Garrett Coal Mining Company,
of Garrett county, Maryland and by
that name shall have perpetual success
sion and be capable in law to acquire
and hold, either by purchase, lease or
otherwise, coal lands and coal mines,
and operate the same for the purpose
Of mining, producing, dealing in, trans
porting, buying and selling coal; for
the purpose of manufacturing produc-
ing, dealing in, Transporting, buying
and selling coke; for the purpose con
Quoting owning, operating and main
tanning railroads, tramWays and cars
within the limits Of Garrett county.
which may be necessary and convenient.
for the proper conduct of its business,
and generally for the purpose of doing
ali things that are legitimate and prop
er for any coal and coke company to do
under the laws of the State of Mary
land to acquire and hold any real and
personal property which may be neces-
sary for the conduct of its business:
provided, that the said company shall,
at no time, hold or possess in this State
more than ten thousand l0, 000) acres
of land; to sue and be sued in any court
whatsoever; to make and use a common
seal and alter the same at pleasure; to
make bylaws, rules and regulations,
and generally to do all things proper and
necessary to carry into effect the pro-
visions Of this Act, or to promote the
object and designs of the company here
by incorporated. The home or princi-
pal office of said company to be located
at FriendSville Garrett county, in the
State of Maryland, but said company
may through its board of directors es-
the State of Maryland, as the business
Of said company may from time to time
require.
SEC. 2. And be it enacted, That the
capital stock of said company shall con-
sist Of one thousand Q,000) shares of
the par value of one hundred $4,000
dollars per share, with the privilege of
increasing the same from time to time,
to the sum Of five hundred thousand
$500, 00000) dollars, or five thousand
6, 000) shares, by vote of the stock
holders, at any general or special meet
ing called for that purpose; provided
however, that the capital stock shall
not be increased except by two-thirds'
vote Of all the stock heretofore issued;
and said incOrpOrators, or majority of
them, shall have power to open books
for subscriptions to said stock, at such
times and places, and in such manner,
as shall be determined and regulated by
the said corpCratOrs, or majority of
them, and when five hundred (500)
shares have been subscribed for, and
fifty (50) per cent. of such subscription
have been paid in, either in cash of its
equivalent, by an exchange of stock for
land or other property for the use of the
corporation, the stockholders may elect
board Of directors, composed of not
less than seven a. nor more than elev-
en- QD persons, to serve until the en-
suing annual election; and the directors
81 CltNJtNa Dcllh NOlll shall liz {
been organized may and they are here
by authorized and empowered to have
and exercise in the name and behalf of
said company. all the rights and privi-
leges which are hereby conferred on
said company; and should the capital
stock at any time be increased, the
stockholders, at the time of such in
crease shall be entitled to a pro rata
1 r L. ~
price heretofore determined at such
stockholders meeting, at which said
stock shall be sold.
SEC 3. And be it enacted, That said
corporation, before proceeding to eXer-
else any of the powers and franchises
herein granted, Shall file with the State
Tax Commissioner of the Stote of Mary
Maryland a certified copy of this Act.
and pay to the State Treasurer, for the
use Of the State, a bonus Of one-eight