JOHN WALTER SMITH, ESQ., GOVERNOR.

857

par value of ten dollars each, and when one hundred shares
shall have been subscribed and fully paid in, the said corpora-
tion shall be entitled to begin the prosecution of any business
under its charter, and when the par value of any share shall
have been fully paid, the same shall thereupon become non-
assessable and non liable on account of any purpose whatever;
and said body corporate shall have the right to increase its
capital stock from time to time by a majority vote of the stock-
holders at a special meeting or meetings to be called and held
for that purpose to any sum or sums not exceeding ($1,000,000)
one million dollars.

CHAP. 589.

Capital stock,
with
privilege to
increase
same.

SEC. 3. And be it further enacted, That said body corporate
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 receivable,
bills payable, bills of exchange, due bills, certificates of
deposit, warehouse receipts, stocks, bonds, mortgages on
real, leasehold, chattel property, and every and any evidence
of debts; to advance money upon the security thereof; to
receive and to hold the same on storage or deposit or other-
wise, upon such terms as may be established or approved by
said company, or of accepting mortgages or other liens thereon,
and, generally, to deal in every and all descriptions of prop-
erty or properties, personal effects, securities, mortgages, land,
certificates of indebtedness, stock of incorporated companies,
loans on bonds of the United States or of any municipality or
of any incorporated company, copartnership, joint stock com-
pany or individual, upon such terms as may be established or
approved by said corporation.

Authority to
purchase and
lease
property, etc.

SEC. 4. And be it further enacted, That said body corporate
shall have the right to guarantee the security, integrity and
income of investments in mortgages upon real or leasehold
property, or chattel interest on ground rents, annuities in
stocks and bonds of any State, city, county, municipality or
corporation, or association, or joint stock company, or copartner-
ship or individual, to guarantee the validity of title to real,
leasehold or chattel property, and to guarantee the payment of
credit, or of any part thereof, given or extended by or to any
person or persons, firm or firms, copartnership or copartner-
ships, corporation or corporations, joint stock company or
joint stock companies.

Authority to
Guarantee
the security
of real or
leasehold
property, etc.

SEC. 5. And be it further enacted. That the said body corpo-
rate shall have the right to invest, upon such terms as may be
agreed upon or established by said corporation, any sum or
sums of money in mercantile, manufacturing, commercial or
other business, or in any lawful enterprise transacted or carried

May invest
in mercantile
or other
business, etc.