THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

al daily newspapers published in the city of Baltimore,

CHAP. 289

of the time and place of holding the annual elections of

directors, and may appoint the judges of such election.

SEC. 8. And be it enacted, That on the first Mon-

Pay 20 cts on $100

day of January, subsequent to the organization of the

School tax

said hank, and on the same day annually thereafter,

the said bank shall pay or cause to be paid t,o the Trea-

surer of the Western Shore of the State of Maryland,

the sum of twenty cents on every hundred dollars

of the capital of said bank, then actually paid in, to be

applied by said Treasurer in augmentation of the free

school fund of the Stats, in the same manner as the simi-

lar tax, paid by the other incorporated banks of the

city, in Baltimore, is now applied; and in case of the

On failure, to forfeit

failure of the said bank to make such payment for the

space of six months after the same shall have become

payable, this charter shall be forfeited and shall he

deemed null and void.

SEC. 9. And be it enacted, That the said corpora-

Bonus

tion, or the president and directors thereof, in further

consideration of the corporate privileges hereby granted

shall pay to the State of Maryland, a bonus of one hun-

dred and twelve thousand five hundred dollars on thirty

thousand shares of said capital stock, the said bonus

to be paid to the Treasurer of the Western Shore of

this State, in three equal annual payments, commenc-

ing for the first payment, on the thirtieth day after the

said bank shall have gone into operation.

SEC. 10. And be it enacted, That if at any time the

Failure to pay

said hank shall neglect or refuse to pay iti gold and

its notes, &c

silver, any of its notes, bills, obligations or any money

received on deposite, in violation of the contract, pro-

mise or undertaking of said hank; the person or per-

sons entitled to demand and receive such payment.

shall respectively receive and recover interest on said

Extra interest

bills, notes, obligations and deposites, until the same

shall be fully paid and satisfied, at the rate of twelve

per centum per annum, from the time of such demand;

Provided, and so far as the assets of said bank shall be

sufficient to pay over and above the sum of its debts and

common interest thereon, the said extra rate of inte-

rest; Provided however, the power is reserved. to this