JOHN WALTER SMITH, ESQ., GOVERNOR.

poses of their incorporation, not inconsistent with the pro-
visions of this charter and the laws and Constitution of this
State, and the president and directors of said corporation, or
a majority of them, shall contribute, appoint and employ such
officers, agents and servants for the transaction of all business
of said corporation, with full power to fix their compensation
and to remove them at pleasure.

1159

SEC. 11. And be it enacted, That should such president and
directors determine to increase the capital stock of said cor-
poration, as authorized in the second section of this Act, they
or a majority of them shall give the same notice of the time
and place of subscribing such additional stock as is provided
in section three of this Act, preliminary to the election of a
president and directors.

May increase
capital stock.

SEC. 12. And be it enacted, That upon every subscription of
said stock, whether under Section two or Section eleven of
this Act, there shall be paid to the incorporators or their
agents the sum of one dollar on each and every share sub-
scribed, and the residue shall be paid in such instalments and
at such times as the president and directors shall prescribe and
require; and if any subscriber shall neglect to pay any instal-
ment for the space of thirty days after the same shall be due
and payable, the stock on which it is due and demandable
shall, at the discretion of said president and directors, be for-
feited to the corporation; provided, nevertheless, that nothing
herein contained shall be construed to prevent said corpora-
tion from suing for and recovering such unpaid instalments in
like manner as other debts and claims are recoverable.

SEC. 13. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 10, 1900.

CHAPTER 727.

AN ACT to incorporate "The Mercantile Bank of Balti-
more," located in the City of Baltimore.

Subscription
of said stock.

How paid.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Clayton Cannon, David S. Briscoe, C. Hazeltine
Basshor, George J. Records, Thomas P. Townsend and the
subscribers to the stock of the corporation hereby created, and
their successors and assigns be and they are hereby created a
body corporate by the name of "The Mercantile Bank of Bal-
timore," and by that name shall have perpetual succession,

The Mercan-
tile Bank of
Baltimore.
Incorporated .