EDWIN WARFIELD, ESQ., GOVERNOR.

191

more county, belonging to the House of Refuge, and for the
erection of buildings suitable for the purposes of the House
of Refuge thereon, and for furnishing and equiping the same.

SEC. 2. And be it further enacted, That this Act shall take
effect from the date of its passage.

Approved March 22, 1906.

CHAPTER 147.
AN ACT to incorporate the Mortgage Loan and Guarantee
Company.
SECTION 1. Be it enacted by the General Assembly of Mary-

CHAP. 146

land, That Lemuel P. Appold, John H. Duncan, John H.
Trimble, James W. Harvey, Harry E. Karr and Carville D.
Benson, and their associates and successors, and all such
other persons as shall thereafter become stockholders of the
company hereby incorporated, shall be and they are hereby
constituted a body politic and corporate, by the name and
style of the Mortgage Loan and Guarantee Company, and by
that name shall have perpetual succession, and be capable in
law to acquire and hold in any wise, dispose of property,
and to sue and be sued, plead and be impleaded, in any court
whatever; to make and use a common seal, and to alter the
same at pleasure, and generally to do everything proper to
carry into effect the provisions of this Act or to promote the
objects and designs of the company hereby incorporated.

SEC. 2. And be it enacted, That the capital stock of said

Body corpor
ate.

company shall consist of twenty-five thousand (25,000) shares
of the par value of ten dollars ($10) each, aggregating two
hundred and fifty thousand dollars ($250,000), with the
privilege to the said company to increase the same from time
to time to one million dollars ($1,000,000) in shares of the
par value of ten dollars ($10) by a vote of a majority of the
stockholders at a special meeting or at a meeting to be called
for that purpose, and the incorporators or a majority of
them shall have the power to open books of subscription
at such times and places as they may deem expedient, and
when said twenty-five thousand (25,000) shares have been
subscribed, and ten per centum thereon has been paid in, the
stockholders may elect ten directors to serve until the next
annual meeting or until their successors have been duly

Capital stock.