and also to invest the capital and funds of the
Company, from time to time, in 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 Com-
pany.

May make
By-Laws.

Sec. 10. And be it enacted, That the Board of
Directors shall make .such by-laws, rules and reg-
ulations not inconsistent with this Act or the Con-
stitution and Laws of the State, as may be deemed
necessary for the government of its officers, and
the conduct of its affairs.

Dividends.

Sec. 11. And be it enacted. That the Directors
may declare dividends of the profits of the Com-
pany semi-annually, or so much thereof as may
seem to them advisable.

Authority to
appoint offi-
cers.

Sec. 12. And be it enacted, That the Directors
shall have power and authority to appoint a Secre-
tary and such other officers and clerks under them
as shall be necessary for transacting the business
of the Company, and may allow such salary as they
shall judge reasonable; shall provide for compen-
sating the President of the Company; shall pro-
vide for the appointment of a President pro-tem.,
who shall exercise the authority of the President
for the time being.

Required to
keep fall en-
tries.

Sec. 13. And be it enacted. That the Directors
shall keep full and correct entries of their trans-
actions, which shall at all times be open to the in-
spection of the stockholders; they shall annually
prepare a full and true statement of the affairs of
the Company, which statement shall be certified
by the President and Secretary.

Power to hire
or purchase
building.

Sec. 14. And be it enacted, That the Directors
shall have power to hire or purchase a suitable
building or buildings within the limits of the City
of Baltimore, for the purpose of transacting the
business of the Company.

Stockholders
not answera-
ble.

Sec. 15. And be it enacted, That no stockholder
in this Company shall be answerable in person or
in individual property, for any contract or any
agreement of said Company or for any losses, defi-
ciencies or failures of the capital stock of this Com-