| 1804. |
LAWS OF MARYLAND.
provided that such day shall not be postponed beyond the first day
of October next, and shall be closed before the hour of five post
meridiem on the same day, but the commissioners may and they
are hereby directed, in case the number of shares allotted to any
county shall not be subscribed on the first day, to adjourn to the
same hour on the next day, and if the subscriptions shall not be
filled by the hour of five post meridiem on the second day, the books
are then to be closed, and transmitted to Annapolis or Easton, as
the case may be; but if the subscriptions shall, on the first or the second
day, exceed the number herein allotted to the respective counties,
then the said commissioners are hereby authorised and directed
so to apportion the shares subscribed among the several subscribers,
by proportional reduction, as may reduce the whole to
the number allotted; and it shall be the joint duty of the committees
appointed at Annapolis and Easton, to wit: John Gibson, James
Williams, John Muir, Robert Denny, Lewis Duvall and William
Alexander, at Annapolis, and Thomas J. Bullitt, John Leeds Kerr,
Hall Harrison, Bennett Wheeler, Joseph Haskins, William Meluy
and James Earle, junior, at Easton, to conduct every operation of
the proposed institution until they shall be superseded by the appointment
of directors. |
Payments, how
to be made. |
5. AND BE IT ENACTED, That every subscriber
shall pay to the
county commissioners, heretofore appointed, at the time of subscribing
for the same, the sum of five dollars on each share that shall
be by him subscribed; and the county commissioners shall transmit
to the commissioners at Annapolis, and to the commissioners at
Easton, by the earliest safe convenience, all monies received by
them, together with the subscription books; and the stock so subscribed
on the respective shores shall be entered on the books of the
bank at Annapolis, and the branch bank at Easton, respectively,
subject however to be transferred from one bank to the other, under
such rules and regulations as may be provided for that purpose by
the directors of said banks conjointly; and each subscriber shall,
within thirty days thereafter, pay the further sum of five dollars on
each share to the commissioners at Annapolis, or Easton, as the
case may be, and within thirty days thereafter the further sum of
five dollars on each share to the directors, and within thirty days
thereafter the further sum of five dollars on each share as aforesaid,
and within thirty days thereafter the further sum of five dollars on
each share as aforesaid, but any person who may find it convenient,
may, at the time of his paying his first, second, third or fourth
instalment, pay upon his shares to the amount of twenty-five dollars
on each share, and shall receive a dividend accordingly; and the
remaining twenty-five dollars on each share shall be paid by instalments
of five dollars, the first to be paid at the end of three
months from the last payment herein before directed, and each succeeding
payment at like intervals, and receipts shall be granted
for the several instalments herein directed as the same shall be
paid; but when a subscriber shall have paid the whole sum by him
subscribed, such subscriber shall be entitled to receive a certificate,
under the seal of the bank, and subscribed by the president, for the
number of shares by him or her held. |
Penalty for not
paying. |
6. AND BE IT ENACTED, That if any stockholder
shall fail to
pay his or her instalments to the amount of ten dollars on each |
|
 |
