JOHN WALTER SMITH, ESQ., GOVERNOR.

637

company is further authorized to construct, lay, erect and
operate in Kent county lines of wire tubes, poles, conduits,
and other appliances necessary to supply, use and furnish
electricity, electric currents, lights and power for all com-
mercial pui poses, and to charge and collect such rents, rates
and charges for the use thereof as may be agreed upon, and is
authorized to transact any business to which electricity may
be applied within Kent county, State of Maryland.

CHAP. 424.

SEC. 12. And be it enacted, That the capital stock, fran-
chises, property and income of this corporation shall be
exempt from all county and municipal taxation for the period
of ten years from the date of its organization, with the con-
sent of the proper public authorities in Kent county having
jurisdiction ; provided, however, that if work on the road is
not commenced prior to, and the road completed within four
years from the passage of this Act, the charter shall be null
and void.
SEC. 13. And be it enacted, That this Act shall .take effect
upon the day of its passage.
Approved April 8, 1902.

CHAPTER 426.
AN ACT to Incorporate the "Washington Savings Bank."

Exempt from
taxes.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That William C. Smith, William J. Klug, George
R. Mowell, Daniel Shamberger, E. L. Wilson, Thomas C.
Ruddell, C. H. Meyer, M. D., A. A. Blakeney, of Baltimore
city, in the State of Maryland, and their successors in office,
be and they are hereby constituted and made a body corporate
and politic, under the name and style of the Washington
Savings Bank of Baltimore City, and by that name shall have
perpetual succession and be capable in law to hold and dispose
of property ; to sue and be sued in Courts of Law, Equity and
any other place ; to receive and make all deeds, transfers, con-
tracts and conveyances whatever ; to have and use a common
seal, and the same to change, alter and renew at pleasure, and
generally to do every other act or thing necessary to carry into
effect the provisions of this Act or to promote the objects or
designs of said corporation.

Body
corporate.

SEC. 2. And be it enacted, That the capital stock of the said'
corporation intended to be created by this Act shall be twenty
thousand dollars, in shares of twenty-five dollars each, .to be
paid as the shareholders may determine, and privilege is
hereby given to said corporation to increase the capital to one
hundred and fifty thousand dollars whenever it shall be deter-
mined by the board of directors.

Capital stock.