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Session Laws, 1809
Volume 570, Page 113   View pdf image
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EDWARD LLOYD, ESQUIRE, GOVERNOR. NOVEMBER.

1809.

'becoming naturalized, shall be as good and valid, to all intents and purposes, as if the said Robert
Moore had been legally naturalized.

CHAP. CLXIII.

C H A P.

CLXII.

An ACT to incorporate the Washington Cotton Manufacturing Com-
pany of the City of Baltimore.

WHEREAS it is represented to this general Assembly, by the petition and memorial of the
president and directors of the Washington Cotton Manufacturing Company, that the stock-
holders of said company have by their subscriptions raised a capital, and have established a cotton
manufactory on Jones's Falls, in Baltimore county, for the purpose of manufacturing necessary arti-
cles, which have hitherto been imported from foreign countries; and the president and directors
aforesaid having by their said memorial petitioned this general assembly for an act of incorporation
in favour of the said company, and this general assembly, desirous of promoting the laudable exer-
tions of its citizens in establishing manufactories in this state, yielding to the prayer of 'the said
petition, therefore,

II. BE IT ENACTED, by the General Assembly ef Maryland, That John Davis, John Hagerty, Moses
Hand, William Edwards and Isaac Burniston, together with all the stockholders, and all such per-
sons as may become stockholders in the said company, be and are hereby created and declared one
body politic and corporate, by the name and style of The Washington Cotton Manufacturing Com-
pany, and by the same name and style shall have succession, and be able to sue and be sued, implead
and be impleaded, in any court of law or equity, and to make, have and use, one common seal, and
the same to change and alter when and so often as they shall think fit, and to ordain and establish
such by-laws, ordinances and regulations, as shall appear necessary for the conducting the concerns
of said company, not being contrary to this act, or the constitution and laws of the United States.

III. AND BE IT ENACTED, That the capital stock of the said company shall be fifty thousand dol-
lars, money of the United States, to consist of one thousand shares of fifty dollars each, to be filled
up, disposed of and completed, at such time or times, on such terms and in such manner, as the
stockholders shall think proper at a general or special meeting.

IV. AND BE IT ENACTED, That the stockholders shall meet on the third Monday in January,
eighteen hundred and eleven, and on the third Monday of January in every year, or within ten days
thereafter, at such place in the city of Baltimore as the president and directors, or a majority of
them, for the time being, shall appoint, and shall then elect, by ballot, a president, treasurer, and
three directors, who shall manage the concerns of the company, to serve for one year, and until
successors to them shall be chosen; the president, treasurer and directors, shall continue in office
until the said third Monday in January, eighteen hundred and eleven, and until successors are chosen.

V. AND BE IT ENACTED, That in the choice of the president, treasurer and directors, and on
all questions whereon the votes of the stockholders are to be taken, the number of votes to which
each stockholder shall be entitled, shall be in proportion to the stock he may hold, viz. For every
five shares not exceeding fifty shares, one vote; but no person or persons, body politic, or other-
wise, shall be entitled to a greater number than ten votes; no share or shares shall confer a right of
suffrage which shall not have been held four calendar months previous to the election; all stockhold-
ers actually resident within the United States, and none other, may vote at an election, by ballot,
in person or by proxy, which shall in all elections after the first be made in such form as the board
of directors may appoint; none but stockholders, being citizens of the United States, and residing
within the state, shall be eligible as a director, treasurer or president.

VI. AND BE IT ENACTED, That whenever a vacancy shall happen in the office of president, trea-
surer or director, by death, resignation, removal from the state, or otherwise, it shall immediately
be "filled, "by ballot, by the directors, from among the stockholders, till the next election; and in
case of the absence of the president, the directors shall choose a president pro tem. who shall in all
things act as president during the said absence.

VII. AND BE IT ENACTED, That the president, treasurer and directors, shall have power, First. To
purchase and hold, on behalf of the said company, in fee-simple, or otherwise, lands and real estates
suitable for the accomplishment of their undertaking, as they shall judge proper; provided, that the
said company shall not hold property, real, personal or mixed, to any amount exceeding one hundred
thousand dollars. Secondly. Te prepare or procure, adopt and execute, such plan or plans as they

Passed 7th of
Jan. 1810.



 
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Session Laws, 1809
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