342

LAWS OF MARYLAND.

CHAPTER 258.

Passed
Mar. 10, 1854.

AN ACT to incorporate a Bank by the name and style
of the Farmers and Merchants Bank of Greensbo-
rough.

Commission-
ers appointed.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That Doctor H. Rouset, C. Comegys,
J. Hopkins Tarr, Wm. C. Meeds, R. C. Carter, Wm.
H. Downes, W. B. Massey, Joshua McGonegal, J. P.
Manlove, Robert Jarrell, Wm. C. Satterfield and John
T. Sangston, be, and they are hereby appointed com-
missioners, under the direction of any five or more of
whom subscriptions may be received to the capital
stock of the Farmers and Merchants Bank of Greens-
borough, hereby incorporated, that if any of the said
commissioners shall die, resign or refuse to act, the du-
ties devolved upon them being unfinished, another shall
be appointed in his stead by the remaining commission-
ers or a majority of them.

Capital stock.

SEC. 2. And be it enacted, Thai the capital stock
of the said bank, shall consist of one hundred thou-
sand dollars divided into four thousand shares, of twen-
ty-five dollars each, to be subscribed for under the di-
rection of the said commissioners or any five of them at
Greensborough, in Caroline county, or any other place
or places that a majority may direct.

Books of sub-
scription.

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 newspaper
published in the county or elsewhere, 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 subscription shall exceed
the number of shares herein allowed, then the said
commissioners are hereby authorised and directed so to
apportion the shares subscribed among the several sub-
scribers by proportional reductions as may reduce the
whole to the number to be subscribed for, but if the
said subscription 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