JOHN WALTER SMITH, ESQ., GOVERNOR.

their duties, unless the court, so appointing, shall deem
further security necessary, and shall be absolutely liable in
case of any default whatever. The court, if it deem it neces-
sary, may from time to time appoint suitable persons to
investigate the affairs and management of said company, who
shall report to such court the manner in which such invest-
ments are made and the security afforded to those by or from
whom its engagements are held, and the expenses of such
investigation shall be defrayed by said company, or the court
may, if it deem it necessary, examine the officers of said com-
pany under oath or affirmation as to the management of
its affairs.

191

SEC. 12. And be it enacted, That the said corporation is
authorized to take, have, hold and enjoy all such estates,
real, personal and mixed, as may be obtained by the invest-
ment of their capital stock, and all other monies or funds
that may come into their possession in the coiirse of their
dealings and business, and the same to sell, grant, mortgage,
lease and dispose of at pleasure; and to execute, acknowl-
edge and deliver all deeds and other instruments of writ-
ing concerning the same; provided, however, that the said
real estate so to be held by them shall be only that occu-
pied as their office and place of business, with additional
rooms to rent, not exceeding in value twenty thousand
dollars, and in addition, other real estate, not exceeding in
value five thousand dollars, and also such real estate as
may come into their possession in satisfaction of a debt
due them upon mortgage, decree, judgment or other debt.

Authority for
investment of
capital stock,
etc.

SEC. 13. And be it enacted, That the said company be and
hereby is authorized and empowered to lend and borrow
money for any of the purposes for which it was created
upon the pledge or security of any stock, bonds, notes or
other choses in actions, claims of any instrument of writing,
or any other lawful securities whatever.

SEC. 14. And be it enacted, That the said corporation shall
be subject to the provisions of Chapter one hundred and
nine of the Acts of eighteen hundred and ninety-two, as
amended by Chapter one hundred and sixty of the Acts of
eighteen hundred and ninety-six, and to Chapter two
hundred and seventy-nine of the Acts of eighteen hundred
and ninety-two, and to all general laws applicable to asso-
ciations of a nature similar to that mentioned in this Act.

Power to lend
and borrow
money.