BANKS AND TRUST COMPANIES. 133

parties in interest for the faithful discharge of every such trust, duty or
power which it may so accept.

Eighth. To take, accept and execute any and all such trusts and powers

of whatever nature and description as may be conferred upon or intrusted
or committed to it by any person or persons or any body politic, corpora-
tion or other authority, by grant, assignment, transfer, devise, bequest or

otherwise, or which may be intrusted or committed or transferred to it or
vested in it by the order of any court of the State, and to take and receive
and hold any property or estate, real or personal, which may be the sub-
ject of any such trust.

Ninth. To exercise, by its directors, duly authorized officers or agents,
all such powers as shall be usual in carrying on the business of banking;
by buying, discounting and negotiating promissory notes, bonds, drafts,
bills of exchange, foreign and domestic, and other evidences of debt; by
receiving deposits of money upon which interest may be paid; by buying
and selling coin and bullion; by buying and selling exchange, foreign and
domestic; by purchasing, investing in and selling stocks, bills of exchange,
bonds and mortgages and other securities; by accepting for payment at a
future date, drafts or bills of exchange drawn upon it, having not more
than six months to run, which grow out of transactions involving the
importation or exportation of goods, or which grow out of transactions
involving the domestic shipment of goods, provided shipping documents
conveying or securing title are attached at the time of acceptance, or
which are secured at the time of acceptance, by a warehouse receipt or
other such document conveying or securing title covering readily mar-
ketable staples; by accepting drafts or bills of exchange drawn upon it
having not more than three months' sight to run, by banks or bankers
in foreign countries or dependencies or insular possessions of the United
States for the purpose of furnishing dollar exchange as required by the
usages of trade in the respective countries, dependencies, or insular
possessions, provided that it shall not accept such drafts or bills of ex-
change for the purpose of furnishing dollar exchange for any one bank
or banker to an amount exceeding in the aggregate ten per centum of the
paid-up and unimpaired capital and surplus of the accepting company
unless the draft or bill of exchange is accompanied by documents con-
veying or securing title or by some other adequate security, and provided
further that it shall not accept such drafts or bills of exchange for the
purpose of furnishing dollar exchange in an amount exceeding at any
time the aggregate of one-half of its paid-up and unimpaired capital and
surplus; by issuing letters of credit authorizing the holders thereof to
draw drafts upon it or its correspondents at sight or on time not exceed-
ing one year; and when moneys or securities for moneys are borrowed or
received on deposit, or for investment, the bonds or obligations of the
company may be given therefor, but it shall have no right to issue bills
to circulate as money.