| 1790.
CHAP.
IV. |
LAWS of MARYLAND.
corner of Liberty and Saratoga streets, thence extending along Saratoga
street thirty-one
feet and six inches, thence north-east two hundred and two feet, thence
east-south-east thirty feet to the above-mentioned lot of ground, thence
by the
line of the said lot of ground, and in a direct line beyond the same,
to the place of
beginning; and that the said John Eager Howard, Esquire, had offered
to give
the said piece of ground for that purpose, and to convey the same to
the said vestry
accordingly, for the use of the minister of the church belonging to
the said
parish for the time being for ever, provided the leave of the legislature
of this state
be obtained for that purpose, agreeably to the constitution and form
of government;
and this general assembly, desirous of promoting the laudable and pious
purposes of the petitioners, have granted leave accordingly; |
Vestry may
take a grant,
&c. |
II. Be it enacted,
by
the General Assembly of Maryland, That the vestry of
Saint Paul's parish, in Baltimore county, are hereby permitted to take
and receive
a grant from the said John Eager Howard, Esquire, to them and their
successors
for ever hereafter, of all the above-mentioned and described piece
of ground, it being
a part of a tract of land called Lun's Lot, for the uses and purposes
aforesaid;
and that the said grant, when executed, acknowledge and recorded, with
the
solemnities required by law for the conveyance of real estates, shall
be good and
effectual in the courts of law and equity in this state, and the vestry
of the said
parish and their successors, shall be vested with an estate in fee-simple
therein;
saving nevertheless to the state of Maryland, and all bodies politic
and corporate,
and all persons not mentioned in this act, their several and respective
rights. |
Passed December
14. |
CHAP. V.
An ACT to establish a bank in Baltimore-town. |
| Preamble. |
WHEREAS the experience of commercial nations, for
several ages,
have fully evinced the utility of well regulated banks; |
A subscription
to be opened,
&c. |
II. Be it enacted,
by the General Assembly of Maryland, That a subscription
be opened for three hundred thousand dollars, in shares of three hundred
dollars
each, and that subscriptions be taken in under the direction of Samuel
Smith,
William Patterson, Jeremiah Yellot, Engelhard Yeifer, Robert Gilmor, Thorowgood
Smith, Charles Garts, Thomas Hollingsworth, James Edwards, James
Carey, Otho Holland Williams, and Nicholas Slubey, Esquires. |
Sums subscribed
to be
paid to directors,
&c. |
III. And be
it enacted, That the sums so subscribed shall be paid to the directors
of the bank elected agreeable to this act, in the following manner, viz.
Every subscriber of one share shall pay the whole in one month from the
election
of said directors; every subscriber of two, three, or four shares, shall
pay one
half in one month from the time of said election, and the other half in
three
months after said election; and every subscriber above four shares, shall
pay
one third in month after the election of directors as aforesaid, one third
in
three months, and the other third in six months after the said election.
Any person
who shall fail making payment as aforesaid, shall be entitled, under his
subscription,
to no more shares than he shall actually have paid for. |
Subscribers
may vote by
proxy, &c. |
IV. And be it
enacted, That every subscriber shall be entitled to vote by himself,
his agent or proxy, appointed under his hand and seal, at all elections
in
virtue of this act, and shall have as many votes as he holds shares, as
far as twenty
shares, and not more than one vote for every five shares thereafter; and
every
such stockholder may sell and transfer his stock in the said bank, or any
part
thereof at his pleasure, not being less than one complete share or shares,
the
transfer being made in the bank books in the presence and with the approbation
of the proprietor, or his lawful attorney; the purchaser then to be entitled
to all
the rights which the original proprietor enjoyed. |
When 200
shares are subscribed,
a
meeting to be
called, &c. |
V. And be it
enacted, That as soon as two hundred shares shall be subscribed,
the persons hereby empowered to take in subscriptions, or any five of them,
may
call a meeting of the subscribers, at Baltimore-town, after not less than
four successive
weeks notice in the Baltimore and Annapolis news-papers; and the subscribers |
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