1286 LAWS OF MARYLAND.

lish and maintain an office or offices in the State of Maryland,
and generally to do everything proper to carry into effect the
provisions of this Act, or to promote the objects and designs
of the company hereby incorporated.

SEC. 2. And be it enacted, That the capital stock of the said
company shall consist of fifteen thousand shares of the par
value of ten dollars each, aggregating one hundred and fifty
thousand dollars, with the privilege to said corporation to in-
crease the same from time to time to two hundred and fifty
thousand dollars by a vote of a majority of the stockholders at
its general meeting or at a special meeting to be called for that
purpose; and the incorporators, or their successors or a ma-
jority of them, shall have power to open books for subscriptions
at such times and places as they may deem expedient, and when
a majority of such shares shall have been subscribed and ten
per centum thereof has been paid in, the stockholders may elect
directors not less than ten and not more than twenty-two in
number to serve until the next annual meeting or until their
successors have been duly elected and qualified, and the direct-
ors so elected by said company, and their successors are hereby
authorized and empowered to enjoy and exercise all the rights,
powers and privileges which are intended to be hereby given,
and whenever the capital stock shall be at any time increased,
the stockholders at the time of such increase shall be entitled to
subscribe to a pro rata share of said increase on the payment of
the price that may be fixed by the board of directors.

SEC. 6. And be it enacted, That the said company shall have
power to receive money on deposit, to act as agent for the pur-
pose of issuing, registering or countersigning certificates of
stock, bonds or other evidences of indebtedness, of any govern-
ment, colony, State, city, corporation, association, municipal-
ity, or public authority on such terms as may be agreed upon
and to discount or purchase and deal in exchange, foreign and
domestic, and in every and all description of property, per-
sonal effects, securities, mortgages, lands, certificates of indebt-
edness, stock of incorporated companies, notes, loans on bonds
of the United States, or of any government, colony, State, city,
county or municipality or of any incorporated company or of
any individual, to buy, discount and negotiate promissory
notes and other evidences of debt, to buy and sell coin and bull-
ion, exchange foreign and domestic, to issue letters of credit, to
accept and execute trusts of any and every kind which may be
committed or transferred with its consent to it by any person
or persons whomsoever, bodies corporate or public, or by any
court in the State of Maryland or in any of the United States,
and to accept the office and appointment of executor or admin-