172

LAWS OF MARYLAND.

generally to pass such by-laws as may be necessary
for the exercise of the aforesaid powers vested in
said corporation, and the same by-laws from time
to time to alter and repeal ; such by-laws being
subject to the approval of a majority in amount of
the stockholders.

Dividends.

Sec. 6. And be it enacted, That the President and
Directors shall from time to time declare and pay
to the stockholders dividends of so much of the
profits realized by the Company as they shall deem
expedient, after reserving such sum as they shall
decide to be reasonable to meet the expenses of the
Company or the purchase of any articles necessary
for the use of the said Company, and also at the
payment of each dividend of profits a general
statement of the affairs of the Company shall be
prepared by the Directors and kept open for the
inspection of the stockholders or any of them for
the space of ten days after the same shall have
been presented to them.

Banking pro-
hibited.

Sec. 7. And be it enacted, That this corporation
shall not be permitted to issue any note, token,
device, or other evidence of debt to be used as
currency.

In force.

Sec. 8. And be it enacted, That this Act shall
take effect from and after its passage.

Approved March 7, 1868.

CHAPTER 114.

AN ACT appropriating the sums of money therein
mentioned to pay the claims of Plummer & Usil-
ton, William H. Councell, E. E. Ewing, E. F.
Perkins, Dr. Montgomery Johns, Samuel L.
Geisinger, John T, Watkins, Edwin M. Ship-
ley, Samuel Smith and George W. Murdock.

Appropria-
tion.

SECTION 1. Se it enacted by the General Assembly
of Maryland, That the Comptroller of the Treasury
be and be is hereby directed to issue his warrant
upon the Treasurer, and the Treasurer is hereby
directed to pay upon the presentation of said war-