18S5.

LAWS OF MARYLAND.

CHAP. 313.

days, from ten o'clock, A. M. until two o'clock, P.

M. and if at the expiration of that period, subscrip-

tions to the said capital stock shall not have been ob-

tained to the amount of twenty thousand shares, the said

commissioners or a majority of them, may cause the

said books to be opened from time to time, after the

expiration of said six days, upon again giving the no-

tice hereinbefore required, for the space of twelve

months thereafter, unless the said amount be sooner

subscribed; and if that amount of shares shall not

he subscribed before the expiration of said twelve

months, this act and all subscriptions under it, shall

Vacancy

be null and void; and if any of the said commissioners

shall die, resign, or refuse to act, the duties devolved

on them being unfinished, another shall be appointed

in his stead by those who shall continue to act, or a

majority of them.

Reduction of sub.-

SEC. 5. And be it enacted, That if a greater num-

scriptions

ber of shares shall be subscribed to the capital stock

of said Bank than is authorised by this act, the said

President and Directors, as commissioners, or a ma-

jority of them, may reduce the subscription in such

Ent not of the State's

manner as they shall deem equitable, but without re-

ducing any subscription which may be made thereto by

the Treasurer of the Western Shore of Maryland as

Trustee, or on behalf of this State; and in case any

subscriber shall have paid a greater sum of money at

the time of subscribing, than at the rate of five dollars

per share on the shares to him appropriated and allot-

ted, the commissioners shall only retain the sum re-

To return surplus

quired as the first payment on these 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 time of sub-

scribing, to said commissioners, or to their agents

Pay $5 per share

appointed to receive subscriptions, the sum of five

dollars per share, and the said commissioners shall

deposit by them or their agents in some place of safe

keeping, to be in part returned in the case of an excess

of subscription, as hereinbefore provided, and the re-

sidue to be added to the capital stock of the said Bank;

and they shall be allowed all reasonable charges and