of the Daily newspapers published in the city of
Baltimore.

Authority to
make Insur-
ance.

' Sec. 8. And be it enacted, That the President
and Directors shall be and are hereby authorized
to make all kinds of Fire, Inland and 'Marine In-
surance risks, both in and out of the State of Mary-
land, and also to make a re-insurance upon all or
any of the risks taken by them, and generally to
transact and perform all business relative to the
object aforesaid mentioned) also to invest the capi-
tal and funds of the Company from time to time
in stocks, bonds, mortgages, promissory notes or
other securities as the Directors may see fit in
their best judgment for the interest of the Corn- •
pany, and to receive and pay out deposits and lend
the funds of the Company in such manner (not
contrary to law) as to them may appear most ad-
vantageous to the Company.

May make
by-laws, &c.

Sec. 9. And be it enacted. That the President
and Directors shall make such by-laws, rules and
regulations, not inconsistent with this Act or the
Constitution and laws of the State, as may be
deemed necessary for the government of its officers
and the conduct of its affairs.

Dividend?.

Sec. 10. And be it enacted. That the President
and Directors may declare dividends of the profits
of the company semi-annually, or so much there-
of as to them. may seem advisable, and in. case of
any loss or losses whereby the capital stock of the
company shall be lessened, no subsequent dividend
shall be made until a sum equal to such diminu-
tion and arising from the profits of the company
shall have been added to the capital.

May appoint
Officers.

Sec. 11. And be it enacted, That the President
and Directors shall have power and authority to
appoint a Secretary, and such other officers or
clerks under them as shall be necessary for trans-
acting the business of the company, and may al-
low such salaries as they shall judge reasonable,
shall provide for the compensation of the Presi-
dent and other officers of the company.

Statement of
business.

. Sec. 12. And be it enacted, That the President
and Directors shall keep full, fair and correct ac-
counts of their transactions, which shall be open
at all times to the inspection of the stockholders;