JOHN WALTER SMITH, ESQ., GOVERNOR.

porations, or by private or public order or decree, or by
authority of any court of record (other than the Orphans'
Court) upon such terms as may be agreed upon, provided,
established or declared in regard thereto; to act as the fiscal
or transfer agent of any State, municipality, body politic or
corporation, and in such capacity to receive and disburse
money, and transfer, register and countersign certificates of
stock, bonds, or other evidences of indebtedness, and to receive
and manage the sinking fund of any corporation. But no thing
herein shall be construed to authorize or empower said cor-
poration to act as the executor or administrator or as trustee
under and by appointment of any last will or testament.

341

SEC. 7. And be it enacted, That the said corporation shall be
and it is hereby authorized and empowered for itself or as
trustee, broker, factor or agent, to the same extent as a natural
person, to buy, lease or otherwise acquire, own, work, develop,
operate, promote, sell, convey, mortgage or otherwise dispose
of within the State of Maryland, or elsewhere, real and per-
sonal property and any rights, interests or estates therein; to
draw, make, accept, endorse, execute, issue and deal in promis-
sory notes, bills of exchange, letters of credit, warrants, bonds,
stocks, debentures and negotiable or transferable instruments
and securities of every description; to loan or borrow money

Authority to
buy, lease and
sell property,
etc.

for any of the corporate purposes of the said corporation; to
receive money on deposit, and allow interest on same; to receive
on deposit in trust or as security, and to trade or invest in
stocks and bonds of public or private corporations and other
evidences of indebtedness, and in property of every class and
description in the State of Maryland or elsewhere, with the
right to vote on all shares of stock held by it as owner or
agent subject to the conditions of such agency in any other
companies or corporations the same as a natural person; to
have power to consolidate or unite with any other corporation
doing a like business; to have discretionary power to invest
at its pleasure its capital and the increment thereof, and all

May loan or
borrow money.

money received in the course of its business transactions; to
make and enter into contracts of every sort and kind not con-
trary to law with any individual, firm, association or corpora-
tion for the promotion of any enterprise or for the management
or construction of any building or buildings or any work or
works which may tend or be designed to improve, increase,
facilitate or develop trade; to manage estates, make collections,
and have the custody, management and control of all kinds of
property, upon such terms or commissions as may be agreed
upon or established by the company and the parties dealing

Other powers.