1372 LAWS OF MARYLAND.

ordinance, approved August 26, 1890, shall devolve upon said
new consolidated corporation, upon the delivery to the State
Tax Commissioner of an agreement of consolidation, in con-
formity with law.

SEC. 2. And be it further enacted, That the common capital
stock of said new consolidated corporation shall be one million
dollars, par value; provided, however, that stock issued in pay-
ment for the properties, rights and franchises of said consoli-
dating companies shall not exceed the fair value of said prop-
erties, rights and franchises, upon a valuation or appraisal of
the same, made or approved by the Public Service Commission
of Maryland.

SEC. 3. And be it further enacted, That said consolidated
corporation be, as to the matters hereinbefore provided for,
and as to all other matters and things subject to the jurisdic-
tion of said Public Service Commission of Maryland.

SEC. 4. And be it further enacted, That this Act shall take
effect from the date of its passage.

Approved April 16th, 1914.

CHAPTER 781.

AN ACT to amend the charters of the German Savings Bank of
Cumberland, The Commercial Savings Bank of Cumberland,
The Cumberland Savings Bank of Cumberland, The Fidelity
Savings Bank of Frostburg, and The Lonaconing Savings
Bank of Allegany County, so as to relieve said banks, and each
of them, from the provisions cf Chapter 109 of the Acts of
the General Assembly of Maryland passed in 1892, and all
amendments thereto, excepting in so far as said Act and the
amendments thereto, may apply to State Banks generally
throughout the State of Maryland, and authorizing and di-
recting the Treasurer of Maryland to surrender to each of said
banks such bonds or securities as may have been deposited
with him by each of said banks, by virtue of the provisions of
said Chapter 109 of the Acts of 1892, and amendments thereto,
and to provide for the retrospective and prospective construc-
tion of this Act.

WHEREAS, The charters of five savings banks, situated and
doing business in Allegany County, Maryland, to wit, The
German Savings Bank of Cumberland, The Commercial Savings