1204 LAWS OF MARYLAND.

1898, chapter 259, entitled An Act to incorporate the Real
Estate Trust Company, so that the corporate title of said
corporation shall hereafter be Colonial Trust Company, so
as to change the par value of the company's stock and to
authorize the reduction of its present capital stock.

Whereas the Real Estate Trust Company was incorporated
by chapter 259 of the Acts of the General Assembly of Mary-
land of 1898, which Act was amended by chapter 18 of the
Acts of the General Assembly of Maryland of 1900 by changing
the name "Real Estate Trust Company" into "Colonial Trust
Company;" and

Whereas it was provided by section 2 of said Act of 1898,
chapter 259, that the par value of the stock of said company
should be fifty dollars ($50), and that the stock of said com-
pany should consist of four thousand shares at fifty dollars
($50) each, being two hundred thousand dollars ($200,000),
with the privilege of increasing the same from time to time up
to the sum of two million dollars ($2,000,000) by a vote of
the stockholders at a special meeting to be called for that pur-
pose; and that when said four thousand shares should have
been subscribed, and when fifty per cent thereon should have
been paid in, the stockholders should be empowered to elect
directors and organize said company; and

Whereas said four thousand shares of stock were duly issued
and fifty per cent, thereon, or twenty-five dollars ($25) per
share was paid in, and afterwards, on December 8, 1898, said
company was duly organized and commenced business; and on
January 20, 1899, by a vote of the stockholders at a special
meeting called for that purpose, the amount of stock was duly
increased from four thousand shares to twelve thousand shares,
of which fifty per cent., or twenty-five dollars ($25) per share,
was paid in, so that the paid up capital stock of said company
now stands at three hundred thousand dollars ($300,000) ; and

Whereas the said company desires to reduce the par value
of its stock to twenty-five dollars ($25) per share, and to ex-
change with its stockholders for each share of their present
stock of the par value of fifty dollars ($50), one share of the
new stock of the par value of twenty-five dollars ($25), which
stock shall be fully paid up.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That said "Colonial Trust Company," formerly the "Real
Estate Trust Company," be and it is hereby authorized and
empowered "to reduce its capital stock by changing the par
value of its shares of capital stock from fifty dollars ($50) per
share to twenty-five dollars ($25) per share, and by exchang-