PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

CHAPTER 246.

CHAP. 246.

An act to Incorporate a Bank, by the name and style
of the Farmers and Mechanics Bank of Kent
County,

Passed Mar 1,
1850.

SECTION 1. Be it enacted by the General Assem-
bly of Maryland, That Thomas Wilson, William S.
Constable, Thomas R. Browne, Nathaniel Wiley,
George B. Westcott, James B. Ricaud, James A. Pearce,
George S. Hollyday, George Vickers, Samuel Kerr,
Thomas C. Kennard, Isaac L. Price, C. W. Spry,
James Spear and David C. Blackiston, be and they are
hereby appointed commissioners, under the direction of
any five or more of whom subscriptions may be re-
ceived to the capital stock of the Farmers and Mechan-
ics Bank of Kent county, hereby incorporated, that if
any of the said commissioners shall die, resign, or re-
fuse to act, the duties devolved upon them being un-
finished, another shall be appointed in his stead by the
remaining commissioners, or a majority of them.

Incorporated,
&c.

SEC. 2. And be it enacted, That the capital stock of
the said bank, shall consist of one hundred and fifty
thousand dollars, divided into six thousand shares of
twenty-five dollars each, to be subscribed for under the
direction of the said commissioners, or any five of them,
at Chestertown, in Kent county, or any other place or
places that a majority may direct.

Capital stock.

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
published in the county, or else where, 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 morn-
ing, and continue the same open until five o'clock in the
afternoon; and if the subscriptions shall exceed the
number of shares herein allowed, then the said com-
missioners are hereby authorised and directed, so to ap-
portion the shares subscribed among the several subscri-
bers, 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 commissioners shall have power to adjourn from
day to day, and at any time after the first day, when
the said subscriptions shall be completed, it shall be the
duty of the said commissioners immediately to close the

Commissioners
to receive sub-
scriptions.