FRANK BROWN, ESQUIRE, GOVERNOR.

127

SEC. 4. And be it further enacted, That the capital stock
of said corporation shall consist of five thousand shares of the
par value of one hundred dollars each, making an authorized
capital stock of five hundred thousand dollars.

Capital stock.

SEC. 5. And be it further enacted, That whenever the
directors deem it advisable for the best interest of the associa-
tion, they may borrow money from any individual, firm or cor-
poration, at such rate of interest, not exceeding the legal rate,
and on such terms as may be agreed upon, and evidence the
same by a certificate of indebtedness, under the hands of its
president and the common seal of the association, or issue
therefor bonds of the association, with or without coupons
attached; and any moneys borrowed under this section shall be
a first lien upon the assets of the association; and the directors
may devote the receipts of the association to paying off and
cancelling such certificates or bonds, whenever deemed ad-
visable; provided, that the association may not borrow to
exceed double the amount of capital stock actually paid in on
shares.

May borrow
money.

SEC. 6. And be it further enacted, That this act shall take
effect from the date of its passage.

Approved March 21st, 1894.

CHAPTER 97.

AN ACT to appropriate a sum of money to pay Boone, Jami-
son and Company, and others, for sundry items of supplies,
services and expenses furnished the joint committee of the
General Assembly of Maryland, on Pocomoke and Potomac
Rivers, in its visits to Virginia and Washington, D. C.,
under the provisions of the Joint Resolution of 1892, Chap-
ter 8.

Effective.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Comptroller of the State be and is hereby
authorized and directed to issue his warrant upon the Treasurer
for two hundred and twenty-five dollars and twenty-five cents,
in favor of Boone, Jamison and Company, for supplies fur-
nished said committee; for fifty dollars in favor of Thomas J.

To pay
claims.