causing ten days' notice thereof to be given in
two or more of the daily newspapers published in
the city of Baltimore.

Authority to
make insurances.

Sec. 8. And be it enacted. That the President
and Directors shall be and are hereby authorized
to make all kinds of fire and inland insurance ;
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 objects
aforesaid; also to invest the capital and funds of
the corny any from time to time in stock and bonds
of the United States, State of Maryland, or other
well secured stocks, and to dispose of the money
or property of the company in such manner (not
contrary to law) as to them shall appear most
advantageous to the company.

Authority to
make by-laws.

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.

May declare
dividends.

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 thereof
as to them may seem advisable, and in case of any
loss or losses whereby the capital stock of the com-
pany 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.

Authority to
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 transacting
the business of the company) and may allow such
salaries as they shall judge reasonable; shall pro-
vide for the compensation of the president and
other officers of the company.

Shall keep a
full record.

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 inspections of the stockholders;
they shall annually prepare a full and true state-
ment of the affairs of the company, which state-