otherwise in the receipt, delivery, or custody of
merchandise received by or stored with them, and
such advances as may be by said corporation made
on goods, wares, and merchandise received by or
stored with them, with interest and commission at
the usual and customary rate, all of which charges,
expenses, advances, interest and commissions as
above specified, shall be a lien on said merchan-
dise, and in case the same shall be in arrear and
unpaid from one year, the said goods or so much
thereof as may be sufficient to satisfy the amount
due thereon, may be sold at public auction, thirty
days' public notice of the time and place of such
sale being given by publication in at least three of
the daily papers printed in the city of Balti-
more.

Capital stock.

• Sec. 4. And be it enacted, That the capital stock
of said corporation shall consist of three hundred
thousand dollars, divided into fifteen thousand
shares of twenty dollars each, which shall be
deemed personal property, and be transferred as
such in the manner the by-laws may prescribe,
and the same may be hereafter increased, in case,
a majority of the trustees for the time being, so
determine, to an amount not exceeding one mil-
lion of dollars; the said corporation may com-
mence business, and shall be deemed fully organ-
ized when the sum of one hundred thousand dol-
lars towards the capital stock shall have been sub-
scribed for, and the whole amount of such sub-
scription paid in, in cash.

Trustees.

Sec. 5. And be it enacted, That the affairs,
concerns and business of the corporation hereby
created, shall be managed and conducted by and
under the direction of seven Trustees, who shall
respectively be stockholders, and who shall, in the
first instance, be elected to serve one year at a
general meeting of the stockholders of this corpo-
ration, which the persons named in the first sec-
tion of this Act are authorized to call as soon as
the sum of one hundred thousand dollars shall be
subscribed, as provided in the preceding section,
and thereafter the said Trustees shall be elected
annually, at such time and in such manner as the
by-laws of the corporation may prescribe.