WM. PINKNEY WHYTE, ESQUIRE, GOVERNOR

37

are hereby authorized and empowered to cancel,

annul, and make void the three thousand eight

hundred shares of their capital stock which now

represents a portion of their assets.

SEC. 2. And be it enacted, That the cancelling of the

No to article the

aforesaid shares, of capital stock, as provided for in

right, etc

the first section of this act, shall in no way whatever

affect the rights, privileges, and restrictions of said

Bank of Commerce, under each and every existing

law, but shall be in effect as though the said shares of

capital stock had never had an existence.

Sec. 3. And be it enacted. That in consideration of

Par value re-

losses incurred by the Bank, impairing its capital, the

duced

the shares in the capital stock of the said Bank of

Commerce, be, and are hereby reduced in their par

value, from twenty-five dollars per share to twenty

dollars per share, and that the said shares be so esti-

mated and valued at twenty dollars each in any and all

transactions therein, and estimates thereof.

SEC. 4. And be it enacted, That any and all acts, or

part of act or acts inconsistent with the provisions of

Repealed

this act, be, and are hereby repealed.

SEC. 5. And be it enacted, That this act shall take

effect from the date of its passage; provided, that the

In force

stockholders shall, at a general meeting, called" by

the Board of Directors, giving at least six weeks notice

in two, or more daily newspapers printed in Balti-

more city, assent to, and adopt this act, by. the vote

Proviso

of a majority of the stock represented at such meet-

ing, in person or by proxy, which assent and adoption

shall be certified, by a majority of the Directors

under the seal of the Bank, be transmitted to the Clerk

of the Court of Appeals, and be by him recorded

among the records of his office.

Approved, February 26, 1874,