36

LAWS OF MARYLAND.

Capital,

Sec. 5. Be it, enacted, That the President and
Directors of said Atlantic Hotel Company, of Ber-
lin, shall have the power to issue bonds or certifi-
cates of indebtedness, under the seal of said Com-
pany, in such sum or sums, not less than twenty-
five dollars each, and not exceeding in amount the
sum of fifty thousand dollars, as the said Com-
pany may prefer, and to sell and dispose of the
same upon such terms as to said Company may
seem proper, and pledge the property and profits
of said Company to secure the payment thereof,
and also with the power to convert the bonds issued
into capital stock of said Company, upon such
terms as may be agreed upon between the holder
or holders of said bond and said President and Di-
rectors.

Dividends.

Sec. 6. Be it enacted , That the President and
Directors shall provide for declaring dividends ;
for forfeiture of stock when instalments are not
paid when due ; to call for monthly or other in-
stalments from time to time of the capital stock
subscribers after giving public notice thereof of
not less than thirty days ; to apply the funds so
received, and all other funds belonging to the
Company to effect the object aforesaid ; to provide
and prescribe the manner and evidence of transfer
of the capital stock ; to enforce payment thereof,
and generally to do, execute, or otherwise to he
done and executed, all such acts, deeds, conveyan-
ces or other writings, and make, revise, alter or
amend all such by-laws, rules and regulations as
may he deemed advisable or necessary, useful or
convenient, and which shall be competent to the
full and beneficial exercise of and carrying into
effect the powers above enumerated, and other
powers, rights and privileges granted to and
vested in the Atlantic Hotel Company, of Berlin.

Banking
privilege pro-
hibited.

Sec. 7. Be it enacted, That nothing herein con-
tained shall be taken or construed to authorize the
said Company, either directly or indirectly, to ex-
ercise or use banking privileges.

Continue.

Sec. 8. Be it enacted, That this Act shall be
and continue in full force until January first,
eighteen hundred and ninety-seven, (1897,) and
until the end of the next session of the General
Assembly of the State of Maryland, which shall
happen thereafter.