T. WATKINS LIGON, ESQUIRE, GOVERNOR.

339

ty, and to make and establish all necessary by laws
for commencing and conducting the business of the
said corporation; provided always, that such by-laws
and rules be not contrary or repugnant to the Con-
stitution of the United States, or the State of Mary-
land.

Proviso.

SEC. 4. And be it enacted, That on the first Monday
of July in the year eighteen hundred and fifty-seven
and annually thereafter, there shall be an election for
eight Directors by the stockholders, every stock-
holder being entitled to one vote, either in person or
by proxy, upon each share which he, she, or they may

Directors.

hold; provided always, that no stock shall confer,
authority to vote unless it shall have stood in the
name of the holder at least for four months previous
to the day of election; and provided also, that this
corporation shall not cease to be perpetuated in con-
sequence of a non election of directors on any par-
ticular day, but shall be continued by the President
and Directors for die time being until a new board
shall be legally elected. The Directors or a majority
of them for the time being shall have power to fill
Vacancies in their own body, until an election shall
take place; Provided, such election of president and
directors shall take place within twenty days from
said first Monday of July.

Provisos.

SEC. 5. And be it enacted, That the Treasurer
of this State shall be furnished with statements
of the amount of the capital stock of the cor-
poration and the debts due to and from the same,
specifying those due to, and from other banks
of the moneys deposited therein, of the notes in
circulation, of the cash on hand, specifying the
amount of coin, of the notes of other banks, of the
value of the real estate held by the corporation,
and of the amount and value of public or other
stocks owned by the corporation, said statement to
be furnished twice in each year and to show the con-
dition of the corporation in the said particulars on
the first Monday of January, and the first Monday of
July, and the said corporation shall publish said state-
ments, so made, to the Treasurer, in at least one of
the daily newspapers published in the city of Balti-
more, said statements, in all cases to be verified by
the oath or affirmation of the President or cashier of
the corporation

Treasurer to
be furnished
with state-
ment.

SEC. 6. And be it enacted, That the issue or notes
usually denominated bank notes, which it shall be

Denomina-
tion of notes.