JOHN WALTER SMITH, ESQ., GOVERNOR.

Samuel A. Suter, and their associates and successors, and all
other such persons as shall hereafter become stockholders in
the company hereby incorporated, shall be and they are
hereby constituted a body politic and corporate by the name
and style of the Hagerstown Trust and Deposit Company,
and by that name shall have perpetual succession and be
capable in law to acquire and hold and in any way dispose
of property, and to sue and be sued, plead and be impleaded
in any court whatever, to make and use a common seal and to
alter the same at pleasure, and generally to do everything
proper to carry into effect the provisions of this Act, or pro-
mote the object and designs of the company hereby incorpo
rated. The home office and place of business of said corpora-
tion shall be at all times at and within the City of Hagers-
town, Washington County, at which place its business shall
at all times be transacted.

787

SEC. 2. And be it enacted, That the capital stock of the said
company shall consist of two thousand shares of fifty dollars
each, being one hundred thousand dollars, with the privilege
to increase the same from time to time up to the sum of five
hundred thousand dollars, by a vote of the stockholders at a
special meeting to be called for that purpose; and the incor-
porators, or a majority of them named in this Act, shall have
power to open books for subscription at such times and places
as they may deem expedient, and when one thousand shares
of the two thousand shares have been subscribed, and when
50 per cent, on said one thousand shares shall have been paid
in, the stockholders may elect twelve directors to serve until
the ensuing annual election, and the directors so elected of
said company, when it shall have been organized, may and
they are hereby authorized and empowered to have and
exercise in the name and in behalf of the company all rights
and privileges which are intended to be hereby given; and
the stockholders shall have the right by a vote at a general
or special meeting called for the purpose to change the num-
ber of directors from twelve to a number not exceeding
twenty -four.

Capital stock,
with privilege
to increase.

SEC. 3. And be it enacted, That the directors shall here-
after be elected annually by the stockholders on the first Mon-
day in January, and that they shall elect from their number
at the first meeting of the board after their election, as pre-
scribed by the second section of this Act, and after all sub-
sequent elections, a president, first vice-president, second vice-
president, and shall also have power to elect a secretary and

Annual
election of
directors and
officers.