1845

FRANCIS THOMAS, ESQUIRE, GOVERNOR.

CHAP. 213.

Capital to be
$200, 000.

Sec. 2. And be it enacted, That the capital stock of
this bank shall consist of two hundred thousand dollars,
divided into eight thousand shares of twenty-five dollars
each, to be subscribed for under the direction of William
Sappington, George Bartoll, Otho Scott, Nathaniel W.
S. Hays, James Pannell, Isaac Rogers, Edward Griffith,
Jacob Hoke, George Wareham, Henry Barnes and Wil-
liam W. Virdin, at Havre-de-Grace, or any other place
that a majority may direct.

Books to be
opened by
commissioners

Sec. 3. And be it enacted, That books for the sub-
scription of said stock, shall be opened by the commis-
sioners aforesaid, on a day to be by them appointed for
that purpose, and by them notified in the newspapers pub-
lished in the county, and two daily papers in the city of
Baltimore, and two in the city of Philadelphia, at least
four weeks previous thereto, and the commissioners who
shall meet on the day so appointed, shall cause the said
books to be opened at the place appointed, at ten o'clock
in the morning, and continue the same open until five
o'clock in the afternoon; and if the subscriptions shall ex-
ceed the number herein allowed, then the said commis-
sioners are hereby authorized and directed, so to appor-
tion the shares subscribed among the several subscribers,
by proportional reductions as may reduce the whole to the
number to be subscribed for; but, if the said subscriptions
shall not be filled up on the first day, the said commis-
sioners shall have power to adjourn from day to day; and
at any time after the first day when the said subscrip-
tions shall be completed, it shall be the duty of the said
commissioners immediately to close the books, and those
only who have subscribed previous thereto, shall be enti-
tled to the said stock, and it shall be the duty of the
commissioners appointed to receive subscriptions to wit:
William Sappington, George Bartol, Otho Scott, Na-
thaniel W. S. Hays, James Pannell, Isaac Rogers, Ed-
ward Griffith, Jacob Hoke, George Wareham, Henry
Barnes and William W. Verdin, and conduct every ope-
ration of the proposed institution, until they shall be su-

Subscribers to
pay $2 50.

perceded by the appointment of directors.
Sec. 4. And be it enacted, That every subscriber
shall pay to the commissioners, who shall attend for
opening the books, at the time of subscribing for the
same, the sum of two dollars and fifty cents, (one-fourth
part of which shall be in specie) on each share that shall
be by him or her subscribed, and each subscriber shall,
within sixty days thereafter, pay to the commissioners
aforesaid, the further sum of two dollars and fifty-cents,
(one-fourth part of which shall be in specie) on each