208

LAWS OF MARYLAND.

to rent or purchase and furnish any suitable real estate

in Hagerstown aforesaid, and to appoint such agent or
agents as may be necessary to transact the business of
said office, and to allow him or them such reasonable
compensation as may be determined upon by them;
the said agent or agents to be qualified by taking the
oath prescribed by the act incorporating said bank, and
to enter into bond with security, to be approved by
said president and directors, and in such penalty as they
may prescribe, before entering upon the discharge of
their duties.

Authority to
increase the
number of
directors.

SEC. 3. And be it enacted, That for the more
convenient management of said office, and directing
the discounts to be made at the same, the stockholders
in said bank may, and they are hereby empowered
whenever hereafter the president and directors shall so
determine and direct, to elect annually an additional
number of directors residing in Washington county,
not exceeding three; and that in the conduct and ma-
nagement of said office, and the making of discounts at
the same, the same rules, articles and regulations shall
prevail as are contained in said act of incorporation and
its several supplements, and are applicable to the same;
the said president and directors to fix a particular day
or days in each week for discounts at said office, and
to determine by resolution where notes discounted at
said office shall be made payable, and to have full
power to pass all such by-laws, rules and regulations
which may be found necessary for the management
and government of said office and agents.

Earning to be
divided.

4. And be it enacted, That the earnings of said
office, after paying all expenses of the same and salaries
of its officers, shall be regularly divided among the
stockholders in the manner and at the times prescribed
by said act of incorporation and supplements.

In force.

SEC. 5. And be it enacted, That this act shall go
into operation or take effect from the day of its pas-
sage.

To redeem is-
sues in gold
or silver.

SEC. 6. And be it enacted, That the said bank be
required to redeem its issues, with gold or silver, on de-
mand, at the counter of the said office of discount and
deposit, if established.