JOHN WALTER SMITH, ESQ., GOVERNOR.

845

by-lawe for the government of the said body corporate and its
officers ; provided, the same shall not conflict with the consti-
tution and laws of this State or of the United States; to
appoint directors and officers, and generally do, execute and
enforce all and singular such acts, contracts, matters and
things as may be necessary to carry out the object and protect
the interests of said body corporate, and to exercise the power
by this Act conferred upon it.

CHAP. 687

SEC. 2. And be it further enacted, That the capital stock
of said body corporate shall consist of six thousand shares of
the par value of fifty dollars each; the said body corporate
shall not, however, undertake the prosecution of its business
until the stock to the amount of one hundred thousand dollars
(which may be payable in such instalments as the directors of
said corporation may stipulate) shall have been subscribed.

Capital stock.

SEC. 3. And be it further enacted, That the said body cor-
porate shall have the right to purchase and hold, bargain and
sell, grant, assign and convey land, or any interest or estate
therein, chattels, choses in action, checks, notes, bills of
exchange, certificates of deposit, warehouse receipts, stocks,
bonds, mortgages on real or leasehold property and every and
any evidence of debt, to advance money upon the security
thereof by receiving and holding the same or accepting mort-
gages thereon, and generally to deal in every and all descrip-
tion of properties, personal effects, securities, mortgages, land,
certificates of indebtedness, stock of incorporated companies,
loans on bonds of the United States or of any city, county or
municipality, or of any incorporated company or individual,
and to do the general business of a bank of discount and
deposit.

Authority to
purchase,
hold, bargain
and sell
real estate,
etc.

SEC. 4. And be it further enacted, That the said body cor-
porate shall have the right to receive money on deposit, evi-
dences of debt for collection, chattels, stocks, bonds and all
paper writings on storage, upon such terms as may be agreed
upon.

Authority to
receive
money on
deposit, etc.

SEC. 5. And be it further enacted, That the said body cor-
porate shall have the right at any time to increase its capital
stock to twenty thousand shares of the par value of fifty
dollars each, and that the directors of the said company shall
have the power to change the corporate name hereof ; pro-
vided, the holders of two-thirds of the stock then issued vote in
favor of such increase or of such change ; and the said corpora-
tion shall have the right to open branches in the State of
Maryland and the city of Baltimore, as it may deem advisable.

Capital stock;
may be
increased.