FRANK BROWN, ESQUIRE, GOVERNOR.

CHAPTER 164.
AN ACT to incorporate the Maryland Trust Company.

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SECTION 1. Be it enacted by the .General Assembly of
Maryland, That James Bond, John G. Mengel, William G.
Hudgins, John Solter, and Walter H. 'Stewart, and their asso-
ciates, successors and assigns, and all other persons who may
hereafter become stockholders in the company hereby incorpo-
rated, shall be a body corporate by the name and style of
Maryland Trust Company, and by that name shall have per-
petual succession, and sue and be sued in any court whatever.

A body cor-
porate.

SEC. 2. And be it enacted, That the capital stock of said
company shall consist of five thousand shares at one hundred
dollars each, being tive hundred thousand dollars, with the
privilege to increase the same, from time to time, by a majority
vote or all the stock at a special meeting to be called for that
purpose, to five millions of dollars; and the above named incor-
porators, or a majority of them, shall have power to open books
for subscription, at such times and places as they may deem
expedient, and when not less than two thousand shares have
been subscribed and fully paid for, the stockholders may elect
seven or more directors to serve until the ensuing annual elec-
tion or until their successors have been duly elected and quali-
fied; and the directors of said company, so elected, may and
they are hereby authorized and empowered to have and to
exercise in tiie name and oti behalf of the company, all rights
and privileges which are intended to be hereby given; and
should the capital stock be at any time increased, the stock-
holders, at the time of such increase, shall be entitled to a pro
rata share of such increase upon the payment of the par value
of the same, and of such price in excess of the par value as the
board of directors may prescribe.

Capital stock.

SEC. 3. And be it enacted, That the directors shall be elected
annually by the stockholders on the third Tuesday of January
in each year, and they shall elect from their number, at the
first meeting of the board after their election, as prescribed by
the second section of this act, and after all subsequent elec-
tions, a president and a rice-president or vice-presidents; and
the said directors shall also have power to elect a secretary and
treasurer, and to appoint and employ such other officers, clerks
and agents as the business of said company from time to time
may require. All elections shall be by ballot, and at such
elections and all meetings of stockholders, every stockholder

Hoard of
directors.