262

LAWS OF MARYLAND.

on demand, to the several stockholders, the said
per centage or proportion specified in said publica-
tion, who shall receive and receipt for the same as
part of their stock in said bank, and the Treasurer
is authorized to receive and receipt for the distri-
butions made on the stock owned by the State

Reduction of
capital by can-
celling stock
authorized.

Sec. 4. And be it enacted, That the said Presi-
dent and Directors may also reduce the capital by
cancelling the stock held by said bank, not exceed-
ing twenty-five thousand dollars in par value.

Notice to be
given Comp-
troller of re-
duction, &c.

Sec. 5. And be it enacted, That upon any such
reduction of capital, in either mode, the President
and Directors shall immediately give notice to the
Comptroller of the Treasury, and to the Treasurer,
and to the Commissioners of said county, verified
by the affidavit of the Cashier, stating the amount
of said reduction, and the balance of capital re-
maining to said bank, which said balance shall
thereafter be deemed and taken in law and in fact
as the capital of said bank, for all purposes what-

Proviso.

soever ; provided, that before the President and
Directors shall make the reduction herein author-
ized, they shall obtain the consent of the stock-
holders, in general meeting, in the same manner
as is provided by law for the election of Directors.

In force.

Sec. 6. And be it enacted, That this act shall
take effect and be in force from and after its
passage.

CHAPTER 244.

Passed March
8, 1862.

AN ACT to pay George Jacobi, and others,
amounts due them by the State.

Sums appro-
priated; Comp-
troller autho-
rized to issue
warrant, &c.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the Comptroller be and he is
hereby directed to issue his warrant upon the
Treasurer, to pay George Jacobi, or order, four
hundred and fifty-five dollars, for material and
work done in fitting up the several rooms of the