JOHN WALTER SMITH, ESQ. GOVERNOR.

581

elections, a president and vice-president, and. shall also have
power to elect a secretary and treasurer, and to appoint and
employ such other officers, clerks and agents, as the business
of said company from time to time require; all elections shall
be by ballot, and at such elections and at all meetings of the
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. 405.

SEC. 4. And be it enacted,, That three weeks' notice shall be
given by publication in some newspaper in Wicomico county
of the time and place of such annual election, which election
shall be conducted by three stockholders, to be named by the
directors from the body of the stockholders, one of whom
shall be designated as chairman, and the other two as judges.

Notice to be
given
of election.

SEC. 5. And be it enacted, That the directors shall have
power to declare such dividends of the profits of said com-
pany as they may deem proper ; provided, that no dividend
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 cer-
tificates of stock, bonds or other evidences of debt of any
State, corporation or association, municipality or public
authority, on such terms as will be agreed, upon; to deal in
exchange, foreign and domestic, and in every and all descrip-
tions of property, personal effects, securities, mortgages, land,
certificates of indebtedness, stocks of incorporated companies,
notes, warehouse receipts and bills of lading, on loans on
bonds of the United States or any city, county, municipality
or any incorporated company 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, the order, judgment or decree of such Court
may order and direct the same to be deposited with said com-
pany, and any individual or administrator, guardian or com-
mittee, receiver, assignee, trustee, State, county or municipal
governments of corporations or public officer, or any persons or
person 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.

Court may
order money
to be
deposited
with
company.

SEC. 8. And be it enacted, That said company may receive
upon storage, deposit or otherwise, merchandise, specie, plate,
bullion, stock, promissory notes, certificates and evidence of ,
debts, contracts and all other personal property, and advance

Authority to
receive
on deposit,
etc.,
valuables of
all kinds.