126

LAWS OF MARYLAND.

money for any of its corporate purposes, and to exercise all

lawful powers for the promotion of the development and pros-

perity of the said counties and cities, and to exercise the powers

of existing trust companies.

SECTION 1. Be it enacted by the General Assembly of Maryland,

That the Southern real estate and trust company of Baltimore

city, a corporation created and existing under the Code of Public

General Laws of this State, providing for the creation of cor-

porations, as will appear from the records of the superior court

Authority

of Baltimore city, be and the same is hereby authorized and em-

powered to loan money upon real and leasehold estates, agricul-

tural implements, live stock and other personal property, par-

ticularly in the counties of Anne Arundel, Calvert, St. Mary's,

Charles, Prince George's, Howard and Carroll, and in the cities

of Baltimore and Annapolis; provided, that said corporation

shall not transact any business in any of the counties of this

State except such as are hereinbefore named.

SEC. 2. And be it enacted, That the said company be and it is

hereby authorized and empowered to issue bonds, with or without

To issue

bonds.

coupons attached, in such amounts and payable at such times and

places with interest not exceeding six per cent, as they may deem

expedient, said bonds to be secured by mortgage or mortgages,

deed or deeds of trust on real, leasehold and personal property

belonging to it.

SEC. 3. And be it enacted, That the said company be and it is

hereby authorized and empowered to loan money to the county

To loan

commissioners of any of said counties, or to the corporate au-

thorities of any municipal corporation in any of the said counties

or cities mentioned in section one hereof, to be used in the pro-

motion of any public improvements therein authorized by law,

or for any lawful purpose of any such county or municipal cor-

poration respectively.

SEC. 4. And be it enacted, That the said company be and the

same is hereby authorized and empowered to loan and borrow

money for any of the purposes for which it was created upon the

To borrow

pledge or security of any stocks, bonds, notes or other choses-in-

action, claims or any instrument of writing or other lawful secur-

ities whatever.

SEC. 5. And be it enacted, That the said company be and the

same is hereby authorized and empowered to subscribe for and

hold capital stock in manufacturing companies and corporations

To devel

and in companies and corporations for laying out town and town

ope.

sites in any of the said counties, and to exercise any lawful power

for the promotion of the development of the said counties of

southern Maryland in their agricultural, mechanical, manufac-

turing and commercial interests for the promotion of immigra-