548

LAWS OF MARYLAND.

May pur-
chase prop-
erty, etc.

SEC. 6. And be it enacted, That the following powers and
privileges are also granted to the said corporation: First, to
purchase and invest in and sell any kind of property, real, per-
sonal and mixed, and to execute deeds, conveyances, assign-
ments or transfers therefor; second, to receive deposits of
money, securities and other property from any person or corpo-
ration and to accumulate the same, and to issue certificates of
deposit therefor, payable at such times and on such terms, and
allowing such rate of interest therefor as may be agreed upon,
not exceeding the legal rate of interest; provided, such certifi-
cate or bonds do not at any time exceed the amount of the capi-
tal stock actually paid in; fourth, to loan money on promissory
and negotiable notes, bills obligatory or other evidences of
debt, and to borrow money at such rates of interest not exceed-
ing the legal rate, and on such terms as may be agreed upon,
and to issue therefor the obligation or bonds of the said associa-
tion, withor without coupons attached.

Effective.

SEC. 7. And be it enacted, That this act shall take effect
from the date of its passage.

Approved April 4, 1890.

CHAPTER 304.

AN ACT to empower the Circuit Court for Howard County,
in equity, to dispose of any unclaimed part of the proceeds
of sales of the Patapsco Female Institute property.

Preamble.

WHEREAS, In accordance with joint resolution No. 9 of the
General Assembly of Maryland, 1890, under proceedings in-
stituted in said court, said property was sold, and the net pro-
ceeds distributed among the stockholders by an audit of the
11th September, 1891; and

Preamble.

WHEREAS, Twenty-eight hundred and five dollars and seventy-
seven cents thereof remains unclaimed, audited to forty-three
(43) of the original stockholders of sixty years ago, all of
whom, as far as has been ascertained, are long since dead, and
those entitled under them, if any there are, fail to make claim,
and are not known.

Disposition of
unclaimed
proceeds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That said court be and it is hereby empowered, either
without further notice or after such notice as may be directed,