PRIVATE ACTS. 1431

stock to the amount of twenty-five thousand dollars (which
may be payable in such instalments as the directors of said
corporation may stipulate) shall have been subscribed; that
the said corporation shall have the power to increase the capital
stock to five hundred thousand dollars or less, divided into-
shares of the par value of ten dollar/3 each.

SEC. 3. And be it further enacted That the said body cor-
porate shall have the right to purchase and hold, bargain and
sell, grant, assign and convey land, or any interest or estate
therein, chattels, choses in action, checks, notes, bills of
exchange, certificates, of deposit, warehouse receipts, stocks,-
bonds, mortgages on real or leasehold property, and every
and any evidence of debt; to advance money upon the security
thereof by receiving and holding the same or accepting mort-
gages thereon, and generally to deal in every and all descrip-
tion of properties, personal effects, securities, mortgages, land,
certificates of indebtedness, stock of incorporated companies,
loans on bonds of the United States or of any city, county or
municipality, or of any incorporated company or individual,
and to do the general business of a bank of discount and'

deposit.

SEC. 4. And be it further enacted, That said corporation is
hereby authorized to receive, keep on storage or otherwise all
such valuables as coin money, paper money, commercial or
precious metals, certificates of stock, plate, jewels, evidence or
indebtedness, notes, contracts, paper, personal property, writ-
ings or any article whatsoever; to purchase sell and take
charge of real and personal estate and securities; to advance
money thereon; and authority is given the said corporation to
receive savings deposits, to maintain a savings department, and
to make investments in securities of the funds on deposit in
the said savings department in bonds, mortgages and stock, or
other approved securities, and the said savings department de-
posits shall be a first lien on the said securities so purchased,
so that upon a dissolution of the said corporation or a distribu-
tion of the assets of the said corporation among the parties
thereto entitled, the said sum so deposited in the savings depart-
ment shall constitute and be a prior lien on the securities so
purchased for the savings department aforesaid. The said cor-
poration may construct, erect, purchase or lease such suitable
buildings, and use all other means which may be necessary, to
maintain and let for hire vaults, safes or other receptacles.

SEC. 5. And be it further enacted. That this Act shall take
effect from the date of its passage.

Approved April 13, 1910.