JOHN WALTER SMITH, ESQ., GOVERNOR.

but the whole of the said capital stock, together with all the
property, rights and credits belonging thereto, shall be answer-
able for the debts and liabilities of the said corporation.

857

SEC. 7. And be it enacted, That the stock of this corporation
may be assigned or transferred on the books of this corpora-
tion in person or by attorney only, but no stockholder indebted
to this corporation shall be permitted to make a transfer of
his stock or receive any dividend until such debt be paid or
secured to the satisfaction of the president or treasurer.

Transfer of
stock.

SEC. 8. And be it enacted, That the principal office of the
said corporation shall be located in the City of Baltimore,
but sub-offices may be established at other places within or
beyond the State where the business of the corporation may
require.

SEC. 9. And be it enacted, That the existence of this corpo-
ration shall be perpetual.

SEC. 10. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 7, 1900.

CHAPTER 523.
AN ACT to authorize the Mayor and City Council of Balti-
more to issue its certificates of stock to an amount not
exceeding five million dollars ($5,000,000), for the purpose
of providing the money to pay at the time of doing the
work, the portion of the costs and expenses of grading,
paving and kerbing the streets, lanes and alleys of the City
of Baltimore, assessable upon the property benefited
thereby, and for the reimbursement of the City of Balti-
more in respect thereto out of the money derived from said
assessments.

Location of
principal office

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and City Council of Baltimore, in
executing the power to assess the cost, in whole or in part, of
grading, paving and kerbing the streets, lanes and alleys of
the city, upon the property binding thereon, be and it is
hereby authorized to provide that the amounts so assessed
may be paid in such number of annual instalments as shall
be prescribed by the Mayor and City Council of Baltimore;
and the amounts so assessed, together with interest thereon,

Paving Loan.
Balto. City.
Paving, kerb-
ing, etc.

Cost assessed
to property
binding
thereon.