EDWIN WARFIELD, ESQ., GOVERNOR.

1057

designated to act as judge, and the other two as inspectors;

provided, that no director shall be selected or appointed for

either judge or inspector at such election.

SEC. 6. And be it enacted, That the directors shall have

power to declare such dividends of the profits of said company

Power to de-
clare divi-

as they may deem expedient; provided, that no dividend shall

dends.

be declared where the capital stock would be impaired thereby.

SEC. 7. And be it enacted, That said company shall have

power to receive money on deposit, subject to check or other-

General pow-

wise; to act as agent for the purpose of issuing, registering

ers of corpo-

or countersiging certificates of stock, bonds or other evidences

ration.

of debt of any State, corporation, association, municipality

or public authority, on such terms as may be agreed upon;

to loan money upon, purchase, sell or issue bonds or mort-

gages upon the security of real or personal estate in the State

of Maryland or elsewhere; to discount notes and other com-

mercial paper, to loan and borrow money upon mortgages,

to loan money upon real or personal securities, to loan money

and make advances secured by mortgages to be paid upon such

terms as may be approved by said corporation, to loan and

borrow money for any of the corporate purposes of said cor-

poration; and the said corporation is hereby authorized to

deal in exchange, foreign and domestic, and in every and all

descriptions of property, personal effects, securities, mort-

gages, land, certificates of indebtedness, stocks of incorporated

companies, notes, loans on bonds of the United States or any

city, county, municipality, of any incorporated company or

any individual; and the said corporation is hereby authorized

to endorse, guarantee or secure the payment of any note,

Securing pay-

contract, bond, debt, bill of exchange, mortgage or evidence

ment of notes,
bonds, etc.

of debt of any kind issued by any individual, corporation,

partnership, city, State, county or municipality, upon such

terms as may be agreed upon.

SEC. 8. And be it enacted, That any and every court into

which moneys may be paid or deposited by agreement of

Depositing of

parties, order, judgment or decree of such court, may order

orders, judg-
ments, etc.

and direct the same to be deposited with said company, and

any individual or administrator, guardian, committee, receiver,

assignee, trustee, State, county or municipal government or

corporation, or public officer or any person or persons acting

for others having the custody of any bonds, stocks, securities,

moneys or values, shall be authorized to deposit the same

for safe keeping with the said company.