PRIVATE ACTS. 1357

CHAPTER 476.

AN A.CT to incorporate the Day and Night Bank.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Erskin M. Sunderland, of Howard County; Thomas
C. Biddison, Jr., of Baltimore County; William T. Dietrich, of
Baltimore City; R. E. Preece, of Baltimore City; Edward
Hirsch, of Baltimore City; William M. Cooper, of Salisbury,
Wicomico County, and Dr. D. W. Hopkins, of Havre de Grace,
Harford County, State of Maryland, and their successors in
office, be and they are hereby constituted and made a body
corporate and politic, under the name and style of the Day and
Night Bank, and by that name shall have perpetual succession
and be capable in law to hold and dispose of property, both real
and personal; to sue and be sued in courts of law, equity and
any other place; to receive and make all deeds, transfers, con-
tracts and conveyances whatever; to have and use a common
seal, and the same to change, alter and renew at pleasure, and
generally to do every other act or thing necessary to carry into
effect the provisions of this Act or to promote the objects or
designs of said corporation.

SEC. 2. And be it enacted, That the capital stock of the said
corporation intended to be created by this Act shall be one
hundred thousand dollars, in shat-es of ten dollars each, to be
paid as the shareholders may determine; and privilege is hereby
given to said corporation to increase the capital stock to one
million dollars whenever it shall be determined by the unani-
mous vote of the board of directors.

SEC. 3. And be it enacted, That the affairs of said corpora-
tion shall be managed by a board of seven directors, who are
to be elected annually in the month of May by the stockholders,
and that the first directors of said corporation shall be elected
by the persons named in the first section of this Act within
ninety days from the date of this Act, said directors thus
elected to serve until the annual¹ meeting in the May following;
said directors shall within ninety days after the passage of this
Act, and annually in the month of May thereafter, elect from
their number a president, vice-president, secretary and treas-
urer, and such other officers as they may see fit; a majority of
said directors shall form a quorum and be fully authorized for
the transaction of any business; and said board of directors
shall have full power from time to time to make laws, rules
and regulations as in their judgment they may deem necessary
for the welfare of said corporation; they shall also fix the
amount of bond to be given by the officers for the faithful dis-
charge of their respective duties, and to regulate the salaries
to be paid them.