1182

LAWS OF MARYLAND

Joseph Lane, seven dollars ; to Lewis Turner, twelve dollars ;
to James Wade, seven dollars ; to R. H. Russell, eight dollars ;
to John W. Deale, for seven dollars ; to James Johnson, for
four dollars and fifty cents, and to Frank Hanson, for four
dollars and fifty cents.

Effective.

SEC. 2. And, be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 9, 1898.

CHAPTER 510.
AN ACT to incorporate The Continental Trust Company.

Body
corporate.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Alonzo L. Thomsen, James Hugh Cottman, Thomas
Keating Stuart, Jacob H. Hartman, William G. H. Stump,
and their associates and successors, and all other such persons
as shall hereafter become stockholders in the company hereby
incorporated, shall be and they are hereby constituted a body
politic and corporate by the name and style of " The Conti-
nental Trust Company," and by that name shall have perpetual
succession, and be capable in law to acquire and hold and in
anywise dispose of property, and to sue and be sued, plead and
be impleaded, in any court whatever, to make and use a com-
mon seal and to alter the same at pleasure, and generally to do
everything proper to carry into effect the provisions of this
Act or promote the object and designs of the company hereby
incorporated.

Capital stock

SEC. 2. And be it enacted. That the capital stock of the
said company shall consist of twenty-five hundred shares at one
hundred dollars each, being two hundred and fifty thousand
dollars, with the privilege to increase, the same from time to
time up to the sum of two million dollars by a vote of the
stockholders at a special meeting to be called for that purpose ;
and the incorporators, or a majority of them named in this Act,
shall have power to open books for subscription at such times
and places as they may deem expedient, and when twelve hun-
dred shares of said twenty-five nundred shares have been sub-
scribed, and when fifty per cent, on said twelve hundred shares
shall have been paid in, the stockholders may elect twelve
directors to serve until the ensuing annual election ; and the
directors so elected of said company, when it shall have been
organized, may and they are hereby authorized and empowered
to nave and to exercise in the name and in behalf of the com-
pany, all rights and privileges which are intended to be hereby