WILLIAM T. HAMILTON, ESQUIRE, GOVERNOR. 19
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any of said directors unless its original subscription
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to the capital stock shall be at least seventy-five
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thousand dollars, and be kept up to that amount,
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and that the stock or any part thereof, so originally
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subscribed for by the said Baltimore Corn and Flour
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Exchange, so long as it shall be held by said corpo-
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Not entitled
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ration, shall not be entitled at any meeting to any
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to voice in
election.
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voice in the election of the five directors other than
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those which it shall itself name as aforesaid. In re-
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spect and to the extent of any stock which it may
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acquire after said original subscription, the said Corn
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and Flour Exchange shall stand upon the same foot-
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ing in all particulars with other stockholders.
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SEC. 8. Se it enacted, That the Chamber of Com-
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merce Building Company be and it is hereby author-
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Borrow mon-
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ized, in its discretion, to borrow such amount of
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ey.
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money, not exceeding three hundred thousand dol-
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lars, as the board of directors may deem necessary to
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carry out the purposes and objects of the said corpo-
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ration as hereinbefore declared, and it shall accord-
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ingly be competent for said corporation to issue its
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bonds, under its corporate seal, in such manner as it
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may deem best for such amounts of money (not ex-
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ceeding in all the sum above named) as it may so de-
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termine, and sell or negotiate the same as it may
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Bonds to bear
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find most advantageous. The said bonds shall bear
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interest.
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interest at not more than six per centum per annum,
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and the payment thereof may be secured by such
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mortgage or mortgages of the property of said cor-
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poration or any part thereof as it may see fit to exe-
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cute, which mortgage or mortgages, signed by the
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president or acting president of the said corporation,
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with the seal of the said corporation attached and
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duly acknowledged as by law required, shall be con-
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clusive in favor of the bona fide holder or holder s of
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any bond or bonds thereby secured.
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SEC. 9. And be it enacted, That this act shall take
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When effec-
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effect immediately from and after its passage.
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tive.
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Approved February 17, 1880.
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