JOHN WALTER SMITH, ESQ., GOVERNOR.

401

urer, and shall also have power to elect a secretary and appoint
and employ such other officers, clerks and agents as the business
of such company from time to time requires ; all elections
shall be by ballot, and at sucb elections and all meetings of
stockholders, every stockholder shall be entitled to one vote
for every share of stock held by him, but no person shall be
eligible as director who is not a stockholder to the amount of
at least ten shares of stock.

CHAP.5W.

«

SEC. 4. And be it enacted, That five days' notice shall be
given by publication in two daily newspapers in Baltimore
city of the time and place of such annual election, which
election shall be conducted by three stockholders, to be named
from the body of the stockholders, one of whom shall be
designated to act as judge and the other two as inspectors.

Notice
of time and
place of
election to be
given,

SEC. 5. And be it enacted, That the directors shall have
power to declare such dividends of the profits of the said
company as they may deem proper; provided, that no divi-
dend shall be declared when the capital stock would be
impaired thereby.

Dividends
declared.

SEC. 6. 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 certifi-
cates of stock, bonds or other evidences of debt of any State,
corporation or association, municipality or public authority, on
Bucn terms as will be agreed upon ; to deal in exchange, foreign
and domestic, and in every and all descriptions of property,
personal effects, securities, mortgages, land certificates of
indebtedness, stock of incorporated companies, notes, loans or
bonds of the United States, or of any city or any individual.

Power
to receive
money
on deposit,
act as agent,
etc.

SEC. 7. And be it further enacted, That any and every
Court into which monies may be paid or deposited by agree-
ment of parties, order, judgment or decree of such Court, may
order and direct the same to be deposited with such company ;
and any individual or administrator, guardian or committee,
receiver, assignee, trustee, State, county or municipal govern-
ment or corporation or public officer, or any person or persons
acting for others, having the custody of any bonds, stocks,
securities, monies or valuables, shall be authorized to deposit
the same for safe keeping with the said company.

Courts,
guardians,
etc., may
order money
deposited.

SEC. 8. And be it further enacted, That said company shall
have power to guarantee, endorse, and secure payment and
punctual performance and collection of notes, debts, bills of
exchange, contracts, bonds, accounts, claims, rents, annuities,
mortgages, choses in action, evidences of debts, certificates of
property of value, checks and titles to property, indebtedness
of individuals, of companies, partnerships, contracts, loans of

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Power to act
as agent,
etc.