706

LAWS OF MARYLAND.

secretary and treasurer, and to appoint and employ such other
officers, clerks and agents, as the business of said company
may from time to time require; all elections shall be by ballot,
and at such elections and at all meetings of stockholders, every
stockholder shall be entitled to one vote for every share of
stock held by him; provided, that no person shall be eligible
as director who is not a stockholder to the amount of at least
five shares of stock, and that ten days' notice shall be given by
publication in two daily newspapers published in the city of
Baltimore, of the time and place of said annual election, and
when a meeting shall be held in pursuance of such notice, it
shall be organized and be conducted as may be prescribed by
the by-laws of the company.

Dividends.

SEC. 4. And be it further enacted, That the directors shall
have power to declare such dividends of the profits of said
company as they may deem proper; provided, that no divi-
dend shall be declared when the capital stock would be
impaired thereby.

By-laws.

SEC. 5. And be it further enacted, That the president, vice-
president or vice-presidents and directors of the corporation
hereby created, shall have power to enact and adopt such rules
and regulations and by-laws for the government and manage-
ment of the affairs of said corporation as they may deem
advantageous to the interest thereof; provided, the same shall
not conflict with the constitution and law of this State, or of
the United States.
SEC. 6. And be it further enacted, That said corporation

May guaran-
tee income
from prop-
erty, etc.

be and is hereby authorized to guarantee the security, integrity
and income from all manner of property, real, personal or
mixed, and the principal thereof, or any one of them wherever
the same may be situated, the payment and punctual per-
formance and collection of promissory notes, debts, bills of
exchange, checks, contracts, bonds, accounts, claims, rents and
annuities, mortgages, choses in action, evidences of debt, and
certificates of property or value, and the titles to prop-
erty real, personal and mixed, and to guarantee the pay-
ment of credit or any portion thereof, given or extended
or to be given or extended, to any person or persons,
firm, corporation or joint stock company; and the loans
of States, cities, counties and municipalities on such terms
or commissions as may be agreed upon or established by
the said corporation and the parties dealing therewith; and
to act as the fiscal or transfer agent of any State, municipality,
body politic or corporation, and in such capacity to receive