282

LAWS OF MARYLAND.

necessary clerks, screwmen and laborers to conduct the business

thereof, and such clerks, screwmen arid laborers shall be under

the supervision and direction of the inspector so appointed in all

respects as warehouses number one, three and five.

Salaries

13. The salaries of inspectors, clerks and all other employees
of the State tobacco warehouses shall be paid from the receipts

of said warehouses and from no other source.

Effective.

SEC. 2. And be it enacted, That this act shall take effect from

the date of its passage.

Approved March 31, 1890.

CHAPTER 263.

AN ACT to change the name of the fidelity loan and trust com-

pany of Baltimore city to the fidelity and deposit company of

Maryland and to amend and define the powers of said company.

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

That the name of fidelity loan and trust company of Baltimore

city, be and the same is hereby changed to that of the fidelity and

deposit company of Maryland, and by such last mentioned name

shall have perpetual succession and may adopt a corporate seal

and may sue and be sued.

SEC. 2. And be it further enacted, That the number of directors

of said company shall be increased from twelve as stated in the

certificate of incorporation of said company to twenty-five, and

Directors.

that said twelve directors shall have power to elect the additional

thirteen required to fill up said board of twenty-five directors,

and said twenty-five directors shall serve as the directors of said

company until the first Tuesday of May, eighteen hundred and

ninety-one, (1891) or until their successors are duly elected and

qualified.

SEC. 3. And be it further enacted, That said company shall have

power to receive money on deposit, to act as agent for the purpose

of issuing, registering or countersigning certificates of stocks,

bonds or other evidence of debt of any State, corporation, associa-

Powers.

tion, municipality or public authority on such terms as may be

agreed upon; to deal in exchange, foreign and domestic, and in

every and all description of properties, personal effects, securities,

mortgages, land, certificates of indebtedness, stocks of incorporated

companies, notes, loans on bonds of the United States, or of any

city, county or municipality or of any incorporated company or

any individual.

SEC. 4. And be it further enacted, That said company shall be

and is hereby authorized and empowered to insure the fidelity of