T. WATKINS LIGON, ESQUIRE, GOVERNOR.

131

CHAPTER 109.

AN ACT entitled an act to amend an act entitled an
act to incorporate the Fremont Savings Institution
of Baltimore, by allowing said institution, the
privileges embraced under the act entitled an act
to continue the corporate existence of the several
banking institutions therein mentioned, passed at
January session, eighteen hundred and fifty-three,
chapter four hundred and forty-one.

Passed Mar.
6, 1856.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the President and Directors
of the Fremont Savings Institution of Baltimore,
with the consent and approbation of the depositors,
may convert the deposites of money which have been
made with said company, and which may be hereaf-
ter made, into capital stock of said company, to the ex-
tent of two hundred and fifty thousand dollars; and said
capital stock shall be divided into shares of the par
value of twenty-five dollars each.

May convert
deposites into
capital stock.

SEC. 2. And be it enacted, That the President and
Directors of said company may cause books to be
opened at such times and places as they may think
proper, for the purpose of receiving subscriptions for
stock additional to stock that may as above be cre-
ated, and so soon as seventy-five thousand dol-
lars shall have been paid into said company, in
gold and silver coin, as part of said capital stock,
and be so certified to the Treasurer of the State of
Maryland, by such persons as said Treasurer shall
appoint to ascertain and report said fact upon oath,
then the said corporation may assume and adopt the
name of the "The People's of Baltimore Bank," and
under that name shall be entitled to all the rights
and powers, and subject to all the liabilities, restric-
tions and conditions that are contained in the law of
this State, passed at January session, eighteen hun-
dred and fifty-three, chapter four hundred and forty-
one, entitled an act to continue the corporate exist-
ence of the several banking institutions therein men-
tioned.

Books to be
opened.

SEC. 3. And be it enacted, That said bank may
continue to receive money on deposite as a Savings
Bank, and to allow such interest for the same as may
be deemed reasonable, not exceeding six per centum

Interest not to
exceed six per
cent.