92

LAWS OF MARYLAND, Nov. SESS. 1812.

1812.

Faith of the
State pledged.

12. AND BE IT ENACTED, That upon any
of the banks in this State complying with the condi-
tion of this act, the faith of the State is hereby
pledged not to impose any further tax or bonus on
the said banks, during the continuance of their char-
ters under this act.

Presidents of
banks coming
into the terms
of this act may
open subscrip-
tion books.

13. AND BE IT ENACTED, That the president
or presidents of such Banks as determine to come
into the terms by this act proposed, or a majority of
them, are hereby authorised to open or cause to be
opened in the city of Baltimore, books for the pur-
pose of receiving subscriptions for said stock, and to
do all other matters and things necessary to carry
this act into operation, and shall use and possess the
said necessary powers until the said company is or-
ganized, and until they are superseded by the ap-
pointment of directors under this act.

CHAPTER 80.

Passed Dec.
17, 1812.

An act to incorporate a Company under the name of
"The Managers and Directors of the Elkton Li-
brary Company. "

Preamble.

WHEREAS, it hath been represented to this Gen-
eral Assembly, that the establishment of a public li-
brary in the town of Elkton, in Cecil county, would
tend very much to the diffusion of useful knowledge:
Therefore,

Commission-
ers—they may
open books —
number of
shares.

SEC. 1. BE IT ENACTED by the General As-
sembly of Maryland, That William Alexander, Esq.
Doctor John Groome, Stephen Hollingsworth, Wil-
liam Hollingsworth and James Sewell, or a majority
of them be, and they are hereby appointed commissi-
oners, at such time and after such notice as they or
a majority of them shall think proper, at the town of
Elkton, to open books and receive subscriptions for
one hundred shares at ten dollars each share, as the
capital stock of the said company, to be paid one half
at the time of subscribing, the other half on the day
of election of the managers and directors hereinafter
mentioned.

Whole num-
ber of shares
being subscri-
bed for, com-
missioners
shall give no-
tice and ap-
point a clay for
the election of
officers.

2. AND BE IT ENACTED, That so soon as
the whole number of shares shall be subscribed for,
the said commissioners or a majority of them, shall
give notice thereof, by setting up public advertise-
ments throughout the county of Cecil, and in the town
of Elkton, and appoint a day for the election of five
managers and directors, to be elected by ballot of the
stock-holders, each share entitled to one vote.