JOHN WALTER SMITH, ESQ., GOVERNOR.

757

amended, and said corporation shall be capable of receiving
from any person or persons, whether natural or artificial, any
deposit or deposits of money to any amount whatever; and all
moneys so received shall be invested in public or private
stocks, bonds, bills of exchange, notes or other securities, and.
in such real and personal estate and property as may be neces-
sary for the accommodation and transaction of its business, at
the discretion of the directors and in the manner deemed most
safe and beneficial; and all moneys so received and all moneys
held by said corporation shall be and constitute deposits of
said bank.

May receive
deposits of

money.

How invested.

SEC. 2. And be it further enacted by the General Assembly
of Maryland, That the said corporation be and it is hereby
authorized and empowered to borrow money, receive money
on deposit and pay interest thereon, to loan money to any
person or corporation, or to discount in accordance with bank
usage, taking such security therefor, real or personal, as the
board of directors of said bank may deem sufficient, and may
make such special regulations in reference to special or other
deposits as the board of directors may think advisable.

Empowered
to borrow
money, etc.

SEC. 3. And be it further enacted, That the stockholders of
said company shall be liable to the amount of their respective
share or shares of stock in said company for all its debts and
liabilities upon note, bill, or otherwise.

SEC. 4. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 7, 1900.

CHAPTER 476.
AN ACT to preserve the streets and protect the property
rights of citizens of incorporated towns in Montgomery
County.

Liability of
stockholders.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That no franchise or right of way to any railway com-
pany in and through any incorporated town in said county
shall be granted or valid unless all the terms, conditions and
locations in relation thereto shall be duly approved by a
formal ordinance passed by the municipal authorities of such
town and finally ratified by a majority of the taxpayers, legally
qualified to vote, at an election specially called for that pur-
pose, after such ordinance has been duly published for at least
three weeks, in some newspaper published in said town, or

Montgomery
County.
Incorporated
towns.
No franchise
or right of way
granted rail-
ways unless
ordinance
ratified by
legal voters,
etc.