JOHN WALTER SMITH, ESQ., GOVERNOR.

901

absolutely liable in case of any default whatever; such Court
may, from time to time, if it deem necessary, appoint suitable
persons to investigate the affairs and management of said
company, who shall report to such Court the manner in which
such investments are made and held, and the expenses of such
investigation shall be borne by the said corporation, and such
Court may, if it deom necessary, examine the officers of such
corporation under oath or affirmation as to such investments.

CHAP. 616.

SEC. 13. And be it enacted, That the said corporation shall
have power to invest its capital or the increment thereof, or
such funds as may be deposited with it, in the public funds of
the United States, or in any stock or property whatsoever,
and to dispose of said stocks, money or property in any such
manner (not contrary to law) as may appear most advanta-
geous to it, and to take, have, hold and enjoy all such estates,
real, personal or mixed, as may be obtained by the investment
of its capital and all other money or funds that may come into
its possession in the ordinary course of its business, and the
same to sell, grant, mortgage, lease and dispose of at pleasure,
and to execute, acknowledge and deliver all deeds or other
instruments of writing concerning the same; provided, how-
ever, that the said corporation shall make no investment or
disposition of any money or property deposited with or held
by it under the order or decree of any Court, without the
authority of such Court first had and obtained.

May invest
its capital in
the public
funds of the
United
States, etc.

SEC. 14. And be it enacted. That said corporation shall have
power to loan its money to persons or corporations on mort-
gages or deeds of trust, or in such other manner as may be
deemed proper by the board of directors, taking such security
therefor as may be agreed upon, take bonds or notes secured
by said mortgages or deeds of trust in which this company
shall have the power to act in a fiduciary capacity, and do all
manner of things necessary to complete and enforce such loans,
and also to act as a depository for the grantor or mortgagor to
create a fund to meet said bonds, coupons and notes at their
respective maturity upon such terms and in such instalments
as may be agreed upon between this company and the bor-
rower; and to do a general trust company business, such as
are now exercised by the several trust companies incorporated
by special Act of the General Assembly, and no more.

May loan
money
on mortgages
or deeds of
trust.

SEC. 15. And be it further enacted, That said body cor-
porate is hereby made subject to provisions of chapters 109
and 279 of the Acts of the General Assembly of Maryland
passed at the January Session of 1892, as amended by the Act
of 1896, chapter 160, so long as said Act shall respectively
remain in force.

Subject to
certain
provisions.