1835.

LAWS OF MARYLAND.

CHAP. 289.

such investment shall be made; or at the first session

after the State shall so have became a stockholder

to the respective limits as aforesaid.

Reduction of sub

SEC. 3. And be it enacted, That if a greater number

scriptions.

of shares shall be subscribed to the capital stock of said

hank than is authorised by this act, the commissioners

above named, or a majority of them, shall reduce the

subscription in such manner as they shall deem equi-

But not of the

State's.

table, but without reducing any subscription which

may have been made thereto by the Treasurer of the

Western Shore of Maryland, as trustee, or on behalf

Proviso

of this State; and provided, that if the subscriptions

made in cither of the counties of this State, by resi-

dents thereof for their own account, shall not exceed

fifty thousand dollars, and in either of the cities afore-

said, other than the city of Baltimore, by residents of

the State in which said cities are respectively situate,

for their own account, shall not exceed two hundred

thousand dollars, there shall be no reduction of such

subscription, and in case any subscriber shall have

paid a greater sum of money at the time of subscribing

than at the rate often dollars per share, on the shares

to him appropriated, the commissioners shall only re-

tain the sum required as the first payment on these

To return surplus

shares, and forth with return the surplus on application

for the same to the persons lawfully entitled thereto;

and upon every subscription there shall be paid at the

$10 fit time of sub-

time of subscribing to the said commissioners, or to

scribing

their agents, appointed to receive such subscriptions,

the sum of ten dollars per share, and the said commis-

sioners shall deposite the money by them or their agents

received from the subscribers, to the capital stock of

said bank, in some place of safe keeping, and deliver

the same to the president and directors of said bank,

or to their order, as soon as shall be required after the

Allowance to com-

organization of the bank; and the said commissioners

missioners

shall be allowed all reasonable charges and expenses

incurred in the execution of their trust, to be paid by

the president and directors of said bank out of the

Your instalments

funds thereof; and every subscriber shall pay on each

share of his stock four instalments of ten dollars each,