JOHN WALTER SMITH, ESQ., GOVERNOR.

SEC. 13. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April ro, 1.900.

CHAPTER 623.
AN ACT to incorporate the Peoples' Trust Company of
Maryland.

975

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That George K. McGaw, Henry F. New, Harry C.
Mcjilton, C. Frank Jones, M.D., and John E. D'avis, and the
subscribers to the stock of the corporation hereby created, and
their successors and assigns, be and they are hereby created a
body corporate by the name of the People's Trust Company
of Maryland, and by that name shall have perpetual succes-
sion, and shall be competent to sue and be sued in any court
of law or equity whatever; to have and use a common seal,
and to alter the same at its pleasure, and to make and adopts
constitution and by-laws for the government of said body cor-
porate and its officers, agents and employees, and from time to
time to amend the same; provided, such constitution, by-laws
or amendments thereto shall not conflict with the Constitution
and laws of this State or of the United States; to elect or
appoint directors and officers, and generally to do, execute
and enforce all and singular such acts, contracts, matters and
things as may be necessary to carry out the objects and pur-
poses, and to protect the interests of said body corporate, and
to exercise the power or powers by this conferred upon it. The
office of this corporation shall be located in Baltimore City,
Maryland .

Peoples' Trust
Company of
Maryland.
Incorporated.

SEC. 2. And be it enacted, That the capital stock of said
body corporate shall consist of one thousand shares of the par
value of one hundred dollars each, being with the privilege
to increase the same from time to time by a vote of the stock-
holders at a special meeting or meetings to be called for the
purpose to a sum not exceeding five million dollars, and the
incorporators, or a majority of them named in this Act, shall
have power to open books or subscriptions at such times and
places in the City of Baltimore and elsewhere as they may
deem expedient, and they shall have power to compel all
subscribers to said stock to subscribe and pay therefor at par,
or at such sum above par as they may decide, and when the
par value, or such sum above par as may be agreed upon, on
any share shall have been fully paid, the same shall there-
upon become non-assessable and non-liable for or on account

Capital stock,
with privi-
lege to in-
crease-