212

LAWS OF MARYLAND.

estate and property, and to advance money, secu-
rities and credits upon any property, real or per-
sonal, on such terms as may be established by the
directors of said Company.

Power to
lease real ant

personal es-
tate.

Sec. 4. And be it enacted, That it shall he law-
ful for said Company to lease, purchase, hold and
convey all such real or personal estate as may be
necessary to carry on their business, as well as
such real or personal estate as they may deem it
necessary to acquire in the enforcement of any
claims, or demands arising out of their business
transactions, and to sell or exchange the same for
other property, as they may determine that the
interests of the Company require; and the said
Company are hereby authorized to make, execute
and issue in the transaction of their business, all
necessary receipts, certificates and contracts, which
receipts, certificates and contracts shall bear the
impress or stamp of the seal of the Company, and
shall be signed by the president and countersigned
by the secretary or treasurer thereof.

Lawful to sell
property, &c.

Sec. 5. And be it enacted, That it shall be law-
ful for said Company to sell at public auction or
private sale, in its discretion all property of what
kind soever, mentioned in or affected by any con-
tract, after two months shall have elapsed from the
time of the maturity of any obligation under such
contract (or immediately upon the discovery of any
fraud, misrepresentation or concealment in regard
to the ownership, value or character of the proper-
ty mentioned in or effected by such contract, ) and
reimburse themselves out of the avails of such sale
for the monies due them, with the interest, cost

Proviso.

and charges; provided, however, that nothing in
this section contained, shall be construed to pre-
vent the said Company from making sales at such
time, ami in such manner as may be provided for in
any contract or agreement made by any person or
persons with the said Company, and unless other-
wise provided in any contract or contracts, all such
sales may be for cash, or on credit in whole or in
part, as said Company may judge proper.

Decrease in
Title.

Sec. 6. And be it enacted, That in case any pro-
perty deposited with the said Company, upon which
any advance shall have been made by them, shall,
before the maturity of the contract from any cause
decrease in value from the price originally fixed,