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LAWS OF MARYLAND.

Sisson, hereinbefore mentioned, shall be Directors

of said Banking Company for the first year of its

existence, and until their successors are regularly

chosen and have entered upon the discharge of their

duties, and that the affairs and concerns of said

banking company shall be conducted, managed and

carried on by the said directors hereby appointed,

in the manner and form as hereinafter prescribed

for the conduct and management of the business

affairs and concerns of said banking company ; and

that said directors shall be subject and liable to the

provisions of this charter or act of incorporation as

those directors that may be chosen hereunder.

Capital stock.

SEC. 4. And be it enacted, That the capital stock of

this corporation shall be one hundred and fifty thou-

sand dollars, divided into shares often dollars each,

with the privilege of so in creasing from time to time

the number of shares, in all to be fifty thousand,

thus making the entire capital stock tive hundred

thousand dollars; and when twenty-five per cent, of

the minimum capital stock shall have been paid in,

in current funds or lawful money of the United

States, and so certified by a majority of said corpora-

tion to the Treasurer and Comptroller of the State,

and a certificate of their organization transmitted to

the Clerk of the Court of Appeals, to be by him re-

corded among the records of his office, and not

before, shall they be entitled to all the benefits and

privileges herein conveyed or intended to be con-

veyed.

SEC. 5. And be it enacted, That the said corpora-

Borrow and
loan money

tion shall have power to borrow money, receive

money on deposit, and pay interest thereon, and to

loan money, or to discount in accordance with bank

usage, taking such security therefor, either real or

personal, as the Board of Directors of said Banking

Company may deem sufficient; may buy and sell

bills of exchange, notes, bonds or other securities;

may accept .and hold all such trusts as shall or may

be committed to it by any person, or by the order

and direction of any judge or any court or tribunal;

may make such special regulations in reference to

trust funds, special deposits or savings left for safe

keeping as shall best aid the parties interested, re-

ceiving and allowing such legal rate of interest as