BANKS AND TRUST COMPANIES 419

ing 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 marketable 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 respec-
tive countries, dependencies, or insular possessions, provided that it shall
not accept such drafts or bills of exchange 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 sur-
plus of the accepting company unless the draft or bill of exchange is accom-
panied by documents conveying or securing title or by some other ade-
quate 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 exceeding 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.

Tenth. To be appointed and to accept the appointment of executor or
of trustee under the last will and testament, or administrator, with or with-
out the will annexed, of the estate of any deceased person, and to be
appointed to act as the committee of the estate of lunatics, idiots, persons
of unsound mind and habitual drunkards.

Eleventh. To deposit securities for the purpose of securing deposits of
the United States Government and its agencies, and the State of Maryland
and counties, cities, towns and other political sub-divisions of the State of
Maryland, or to secure the surety or sureties on bonds furnished to secure
such deposits, and to pledge securities to secure the prompt repayment of
deposits of money of estates administered under the Bankruptcy Laws of
the United States.

Where will directed money to be deposited in some good banking institution, in-
terest to be paid during life to testator's sisters, it was duty of executrix to deposit
under direction of Orphans' Court or court of equity, but money so deposited was not
paid into court within meaning of secs. 58 and 59. Melville v. Page, 165 Md. 597.

The provisions of secs. 58-60 have no application unless trust company has been
appointed trustee or other fiduciary by virtue of jurisdiction of the court. Ghingher v.
O'Connell, 165 Md. 271.

This section referred to in construing sec. 12. Public Indemnity Co. v. Page 161
Md. 239.

Cited but not construed in Ghingher v. Pearson, 165 Md. 294; Bradford v. Chase Nat.
Bk., 24 F. Supp. 28.

See notes to sec. 68.

Cf. sec. 32; also art. 23, sec. 8.