ELIHU E. JACKSON, ESQUIRE, GOVERNOR
John D. Newcomer and William H. A. Hamil-

813

ton, be and they are hereby appointed commis-
sioners to take subscriptions to the capital stock
of the Hagerstown Trust and Guarantee Com-
pany hereby incorporated, and that they, or a
majority of them, may cause books to be opened
at such times and places, in the city of Hagers-
town, in this state, and for such period or per-
iods, and upon such notice as they may deem ex-
pedient, and may reopen the same from time to
time for the purpose of receiving subscriptions
to said capital stock until the whole amount of
the said capital stock shall have been subscribed
for and taken. If any of the above named com-
missioners shall die, resign or refuse to act,
another or others may be appointed in his or
their stead by a majority of the remaining com-
missioners.
SEC. 2. And be it enacted, That the subscri-

To take sub-
scriptions.

bers to said stock, and their successors and as-
signs, shall be and they are hereby declared to be
incorporated into a company by the name of "The
Hagerstown Trust and Guarantee Company,"
and by that name shall be capable in law of pur-
chasing, holding, selling and conveying prop-
erty, real, personal and mixed, as far as shall
be necessary for the purpose hereinafter men-
tioned, and shall have perpetual succession; and
by such corporate name may sue and be sued,
and have and use a common seal, which they
shall have the power to alter and renew at their
pleasure, and shall have and enjoy, and may ex-
ercise all the powers, rights and privileges inci-
dent and necessary to the purposes of the cor-
poration created by this act.

Incorporated,

SEC. 3. And be it enacted, That the capital
stock of said company shall consist of two thou-
sand shares at fifty dollars each, being one hun-
dred thousand dollars, with the privilege to in-
crease the same by a vote of the stockholders at
a special meeting, to be called for that purpose,
to two hundred thousand dollars; and should the
capital stock be at any time increased, the stock-
holders at the time of such increase shall be en-
titled to a pro rata share of such increase upon
the payment of the par value of the same. One
fifth of the amount subscribed by any subscriber

Capital stock,
etc.