JAS. BLACK GROOME. ESQUIRE, GOVERNOR. 713

be and they are hereby appointed commissioners to	Subscriptions.
receive subscriptions to the capital stock of the said
corporation, and they, or a majority of them, may
cause books to be opened at such time and place in
the City of Baltimore as they may direct, for the
purpose of receiving such subscriptions, and may
keep the same open Until the whole number of shares,
amounting to the sum of fifty thousand dollars, shall
be subscribed for; but when two hundred and tifty
shares have been subscribed for, then it shall be
lawful for said corporation to proceed in all things
according to this charter.
SEC. 4. And be it enacted, That the said bank shall
have power to borrow money, or receive money on de-	Powers.
posit, and pay interest thereon, and to loan the said
money at any rate not exceeding that now or to be
hereafter allowed by law, or to discount in accordance
with bank usage, taking such security therefor, either real or personal, as the board of directors of said
bank may deem sufficient; may buy and sell ex-
change, bills, 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, deposits or savings left for safe keeping, as
shall best aid the parties interested, allowing and re-
ceiving such interest therefor, not greater than here-
inbefore specified, as. may be agreed upon; may
purchase annuities, issue letters of credit and other
commercial obligations.
SEC. 5. And be it enacted. That it shall be lawful	To purchase
for the bank hereby incorporated to purchase and	and hold.
hold personal estate and real estate, not exceeding
fifty thousand dollars in value, and to take and hold
real and personal estate as security for loans and
debts due the said bank.
SEC. 6. And be it enacted, That the affairs of said
corporation shall be managed by a president and ten	Management
directors; the first election of directors shall take
place within thirty days after the organization of said
corporation, of which election the stockholders shall
receive due notice ; the term of service of said di-
rectors shall continue for one year, or until another