Taggart v. Western Maryland Rail Road
Court of Appeals of Maryland
Appeal from the Superior Court of Baltimore City. This action was instituted on the 1st day of February, 1861, by the appellee, to recover from, the appellant the amount of his subscription to its stock. By the Act of 1852, ch. 304, certain persons therein named were appointed commissioners to receive subscriptions to the capital stock of “ The Baltimore, Carroll and Frederick Rail Road Company."
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Appeal from the Superior Court of Baltimore City. This action was instituted on the 1st day of February, 1861, by the appellee, to recover from, the appellant the amount of his subscription to its stock. By the Act of 1852, ch. 304, certain persons therein named were appointed commissioners to receive subscriptions to the capital stock of “ The Baltimore, Carroll and Frederick Rail Road Company." The capital was fixed at five hundred thousand dollars, in shares of fifty dollars each ; and it was provided that •as soon as one thousand shares should be subscribed, the company should be…
1Opinion of the CourtBowie, C. J.
The General Assembly, at January session, 1852, incorporated “The Baltimore, Carroll and Frederick Rail Road *585Company,” with a danse prescribing certain preliminaries usually observed in opening the hooks and taking subscriptions for stock, prior to the organization of a company, among others, the pre-payment of one dollar per share on every share subscribed; also requiring the road therein contemplated, to he commenced within three years and finished within ten years from- the passage of the Act, otherwise the same should he null and void. Books were opened by the Commissioners, the requisite…
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