142 ARTICLE 11.

resources and liabilities to the banking institution with which it is in pro-
cess of consolidation.

This section does not authorize the Bank Commissioner to disclose to either
bank to a proposed consolidation any information as to other hank which he
has obtained in his official capacity. State v. Page, 163 Md. 512.

60.

Cited but not construed in Nagel i. Ghingher, 166 Md. 241.
This section referred to in construing sec. 72. See notes thereto. Robinson
v. Hospelhorn, Daily Record, June 27, 1935.

61. Repealed by ch. 529 of the Acts of 1933.

An. Code, 1924, sec. 62. 1912, sec. 62. 1910, ch. 219, sec. 61 (p. 27). 1931, ch. 503.

62. Every bank (other than a savings bank without capital stock) shall
keep on hand at all times a reserve of at least 15 per cent of its deposits,
payable on demand; which reserve may be kept as cash on hand, or on
deposit in such bank or banks, or trust company or trust companies of the
State of Maryland, or elsewhere, of good standing, as the board of directors
or executive committee by resolution may direct. Every trust company
shall keep on hand at all times a reserve of at least 10 per cent of its
deposits payable on demand (not including thereunder, however, any de-
posits made by the City of Baltimore and secured by the counter deposits
of Baltimore city stock); which reserve shall be kept on deposit in such
bank or banks, or trust company or trust companies of good standing, either
in the State of Maryland or elsewhere, as the board of directors or execu-
tive committee may direct; and every trust company shall also keep on
hand, as an additional reserve, at least 5 per cent of the amount of such
deposits, which additional reserve may be kept on deposit in such bank or
banks or trust company or trust companies as the board of directors or ex-
ecutive committee thereof may direct, or in the form of registered bonds or
public stock of the United States, or the State of Maryland, or of Baltimore
City, or of the bonds of any county or municipal corporation of this State,
which shall be approved by the Bank Commissioner; provided, however,
that any securities which have been deposited by any such trust company
with the Treasurer of the State, in accordance with Sections 141 and 149
of Article 23 of the Annotated Code of Public Civil Laws of Maryland,
may be considered as a whole or a part, as the case may be, of said last-
mentioned required 5 per cent reserve. Cash items shall not be considered
as a part of the reserve herein required to be kept by either banks or trust
companies, but cash actually on hand held by a trust company shall be
considered as a part of the reserve herein first required to be kept by such
trust company.

An. Code, 1924, sec. 63. 1912. sec. 62A. 1914, ch. 805, sec. 61A. 1931, ch. 294, sec. 63.

63. No bank or trust company shall carry without the approval of the
Bank Commissioner for a longer period than ninety days bills payable or
rediscounts in an aggregate amount greater than its paid in capital and