A. W. BRADFORD, ESQUIRE, GOVERNOR.

may grant such order, if satisfied from representa-
tions, in- writing of respectable inhabitants of said
neighborhood or village, as the case may be, of the
propriety and necessity of granting the same.

261

Sec. 2. And he it enacted, That this act shall
take effect from and after the first day of May.

In force.

CHAPTER 243.

AN ACT to amend the charter of the Hagerstown
Bank as contained in the act entitled, An act to
Continue the corporate existence of the several
banking institutions therein mentioned, passed
at January session, eighteen hundred and fifty-
.three, chapter four hundred and forty-one.

Passed March
10, 1862.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the President, Directors and
Company of the Hagerstown Bank, mentioned in
said original act, be and they are hereby authorized
to reduce the capital of said bank, from time to
time, by repayment to the stockholders a certain
per centage or proportion of the par value of each
share.

Reduction of
capital autho-
rized.

Sec. 2. And be it enacted. That whenever and
so often as the President and Directors of said
bank shall deem it expedient, they shall, by pub-
lication in one or more newspapers published in
Washington county, for at least three successive
weeks, give notice to the stockholders that on a
certain day, therein named, they will distribute to
the several stockholders a certain per centage or

Distribution
of per centage,
&c.

proportion of the par value of each share, payable
on demand ; provided, said reduction of capital
shall not be less, at any one time, than twenty-five
thousand dollars ; and that said capital shall never
be reduced below one hundred and fifty thousand
dollars.

Proviso.

Sec. 3. And be it enacted, That said President
and Directors shall accordingly distribute and pay,

Duty of Pre-
sident and Di-
rectors.