| 1791.
CHAP.
LXXXVI. |
LAWS of MARYLAND.
this general assembly to execute and relieve him from that necessity,
and
this general assembly being willing to grant his application, |
Agent, on recovery
of the
bank stock, to
assign the
same, &c. |
II. Be it enacted,
by the General Assembly of Maryland, That Samuel Chase,
Esquire, the agent and trustee of this state for the recovery of the
stock of the
bank of England belonging to this state, on obtaining a decree in the chancery
court of Great-Britain for the said stock, and an assignment and transfer
thereof
from the accountant-general of the said court of chancery, and for
payment of
any money in the hands of the said accountant-general, or in the hands
of
Sylvanus Grove, late and only surviving trustee of the said stock, and
not invested
in the purchase of stock, be authorised and directed to assign, transfer
and pay,
all bank stock and money by him received, after deducting his commission
therefrom,
unto Sir James Herries, William Murdock, Joshua Johnson and Horatio
Clagett, of the city of London, merchants, who are hereby appointed
trustees,
on behalf of this state, to receive from the said agent the said transfer
and payment,
and they are hereby authorised and required to receive the dividends
arising
on the said stock, and invest them from time to time in the purchase of
more
stock, and to return an annual account of their proceedings to the governor
of
this state; and the said trustees shall be subject to the directions of
the general
assembly of this state, and shall receive among them, for their services
in receiving
and paying away, as this act and any future act may direct, at the rate
of one
half per cent. on all stock and money which shall be received by
them, and
one half per cent. on all stock and money which shall be so paid
away. |
And procure
a decree, &c. |
III. But,
provided it can in anywise be effected, Be
it enacted, That the
said agent and trustee be authorised and directed to procure a decree of
the court
of chancery of Great-Britain, that the accountant-general of the said court
be
directed to assign, transfer and pay, all the bank stock, and any money
in his
hands received for dividends of the said stock, and not invested, after
deducting
therefrom at the rate of four per cent. for the commission to the
said agent, to
the trustees aforesaid; and that the said accountant-general pay the
residue of the
said stock and money to the said agent, his executors, administrators
or assigns. |
Trustees authorised
to
sell, &c. |
IV. And be it
enacted, That the said trustees be authorised and directed to sell
not exceeding eleven thousand pounds of the said stock, and pay so
much of the
money arising from the sales thereof as may be due on a statement of the
account
on a mortgage from Daniel Dulany, (of Walter) deceased, to Osgood Hanbury,
and company. |
How vacancies
are to be
filled. |
V. And be it
enacted, That in case any of the trustees appointed by this act
shall die before acceptance of, or refuse to accept, this trust, the governor,
with
the advice and consent of the council, shall appoint another person or
persons in
the room of hm or them so dying or refusing. |
S. Chase to
give information,
&c. |
VI. And be it
enacted, That the said Samuel Chase shall, from time to time,
give the earliest information to the governor and council of this state
of the progress
and event of the suit in chancery concerning the said bank stock, and also
lay before them an account of the expences of said suit, with the vouchers,
which shall be communicated by the governor and council to the general
assembly
at their first session after the same shall be received. |
Passed December
30. |
CHAP. LXXXVII.
A Further Supplement to the act, entitled, An act directing the
time, places and manner, of holding elections for representatives
of this state in the congress of the United States. |
Supplement
not to commence,
&c. |
BE it enacted,
by the General Assembly of Maryland, That the supplement
to the said act, passed at this present session of assembly, shall not
commence
or be in force until congress shall have passed an act ascertaining
the representation of each state in consequence of the late census. |
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