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Proceedings of the Senate, 1878
Volume 410, Page 224   View pdf image (33K)
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224 JOURNAL OF PROCEEDINGS [Feb. 13;

of any of the Orphans' Courts or Circuit Courts of the sev-
eral counties in this State, to judge of the sufficiency of the
said Company as surety as aforesaid, on any bond on which
it may oiler to become surety."

Mr. Stump, (by unanimous consent,) submitted the follow-
ing amendment:

AMENDMENT PROPOSED.

"SEC. 7. And be it enacted, That before said Company
proceeds to act as trustee, executor, receiver or in any fiduciary
capacity, its whole capital stock shall be paid up and invested
in United States interest bearing bonds, which shall be de-
posited as the Supreme Bench of Baltimore City may direct,
and the principal shall be a fund kept for the purpose of pay-
ing any liabilities incurred by said Company for the non-
fulfilment of its duties as trustee, receiver, executor, adminis-
trator, guardian or any of its other fiduciary relations, as secu-
rity for the faithful performance of the trusts reposed in it, and
said Safe Deposit and Trust Company shall not use for any
purpose whatsoever, any of the stocks, bonds, moneys or
other valuables intrusted to its care and keeping, in virtue of
its appointment by any Court to any position of trust, and
shall only invest and re-invest such funds, and pay the same
out under the orders of Court."

On motion y Mr. McLane,

Said bill, together with said amendments, was then re-
ferred to the Committee on Judicial Proceedings.

The Clerk of the House of Delegates appeared, and deliv-
ered the following message :

BY THE HOUSE OF DELEGATES.

February 12th, 1878.
Gentlemen of the Senate :

We have received your message, proposing that the Stand-
ing Committee on Inspections of the Senate, and the Stand-
ing Committee of Inspections of the House of Delegates, be
declared a Joint Committee on Inspections, and that all ques-
tions pertaining to the inspection system of the State, be re-
ferred thereto; and we respectfully non-concur therein.
By order,

MILTON Y. KIDD,

Chief Clerk.
Which was read.

Also, delivered

House bill entitled an Act to repeal Sections 4, 6, 7 and 8,
of Chapter 504, of an Act passed January Session, 1874, enti-

 

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Proceedings of the Senate, 1878
Volume 410, Page 224   View pdf image (33K)
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