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Session Laws, 1880
Volume 395, Page 19   View pdf image (33K)
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WILLIAM T. HAMILTON, ESQUIRE, GOVERNOR. 19

any of said directors unless its original subscription


to the capital stock shall be at least seventy-five


thousand dollars, and be kept up to that amount,


and that the stock or any part thereof, so originally


subscribed for by the said Baltimore Corn and Flour


Exchange, so long as it shall be held by said corpo-

Not entitled

ration, shall not be entitled at any meeting to any

to voice in
election.

voice in the election of the five directors other than


those which it shall itself name as aforesaid. In re-


spect and to the extent of any stock which it may


acquire after said original subscription, the said Corn


and Flour Exchange shall stand upon the same foot-


ing in all particulars with other stockholders.


SEC. 8. Se it enacted, That the Chamber of Com-


merce Building Company be and it is hereby author-

Borrow mon-

ized, in its discretion, to borrow such amount of

ey.

money, not exceeding three hundred thousand dol-


lars, as the board of directors may deem necessary to


carry out the purposes and objects of the said corpo-


ration as hereinbefore declared, and it shall accord-


ingly be competent for said corporation to issue its


bonds, under its corporate seal, in such manner as it


may deem best for such amounts of money (not ex-


ceeding in all the sum above named) as it may so de-


termine, and sell or negotiate the same as it may

Bonds to bear

find most advantageous. The said bonds shall bear

interest.

interest at not more than six per centum per annum,


and the payment thereof may be secured by such


mortgage or mortgages of the property of said cor-


poration or any part thereof as it may see fit to exe-


cute, which mortgage or mortgages, signed by the


president or acting president of the said corporation,


with the seal of the said corporation attached and


duly acknowledged as by law required, shall be con-


clusive in favor of the bona fide holder or holder s of


any bond or bonds thereby secured.


SEC. 9. And be it enacted, That this act shall take

When effec-

effect immediately from and after its passage.

tive.

Approved February 17, 1880.




 

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Session Laws, 1880
Volume 395, Page 19   View pdf image (33K)
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