1845.

LAWS OF MARYLAND.

CHAP. 496.

Objects of
company.

SEC. 2. And be it enacted, That the objects of said
corporation are declared to be the making and manufac-
turing of and trading in iron and other articles, for which
purpose they are authorised to purchase, hold and sell
land in fee simple or otherwise necessary to the conduct
of the business, and to erect thereon all needful or con-
venient buildings; that the capital stock of said corpora-
tion shall not be more than four hundred thousand dol-
lars.

Stockholder to
elect president
and three direc-
tors.

SEC.. 3. And be it enacted, That for the management
of the affairs of the company the stockholders shall elect
a president and not less than three directors, who shall
remain in office for one year or until successors shall be
elected, a majority of whom shall form a quorum or
board, that a majority of stockholder shall at any time
call a meeting upon advising all the stockholders by ad-
vertisement or otherwise of the time and place of holding
said meeting.

Slock deemed

personal estate.

SEC. 4. And be it enacted, That the stock of the said
company shall be deemed personal estate; that all the
property, estate and joint stock of the corporation shall
be bound and answerable for its debts or liabilities.

Right reserved.

SEC. 5. And be it enacted, That nothing contained
herein shall be construed as granting banking privileges
to said corporation or exempting their property and ef-
fects from general taxation.
SEC. 6. And be it enacted, That the legislature reserves
to itself the right to alter or annul this act of incorpora-
tion whenever the public interest may require it.

Passed Mar.
10, 1846.

Repealed.

CHAPTER 406.

A supplement to the ad entitled, an act to exempt free ne-
groes of this State from the operation of an act therein
mentioned, in certain cases, passed at December session,
eighteen hundred and forty-four, chapter two hundred
and eighty -three.

Be it enacted by the General Assembly of Ma-
ryland, That so much of the act to which this is a
supplement, as relates to the Orphan's Court of Balti-
more county, be and the same, is hereby repealed; and
that all the powers and authority conferred on said court
by said act, shall hereafter be exercised by the city court
of Baltimore or one of the judges thereof.