556

LAWS OF MARYLAND.

Capital stock.

SEC. 2. And be it enacted, That the capital stock
of this bank shall consist of one hundred thousand
dollars, money of the United States, divided into four
thousand shares of twenty five dollars each, and that
said bank shall go into operation as soon as the said
capital stock of one hundred thousand dollars shall
have been subscribed, and fifty thousand thereof ac-

Provisos.

tually paid in; Provided, however, That if after said
bank goes into operation, it shall appear to the presi-
dent and directors thereof, that the existing capital
stock of said bank is inadequate to meet the public
exigencies and effectuate the objects of the institu-
tion, it shall and may be lawful for the president and
directors, with the consent and approbation of the
stockholders, given at a general meeting thereof,
called for that purpose from time to time, and in such
manner as to them shall seem expedient, to add to
and increase the capital stock of the said bank; Pro-
vided, always, that the capital stock of said bank shall
at no time exceed the amount of two hundred and
fifty thousand dollars; Provided, that one half of any
increase of stock shall be actually paid in before it
shall be added to the capital stock or said bank; that
one sixth of the capital stock shall be reserved for the
use and benefit of the State of Maryland, to be dis-
posed of as may hereafter be directed by the Legisla-
ture thereof.

Commission-
ers appointed.

SEC. 3. And be it enacted, That Charles W. Dor-
sey, George R. Gaither, Thomas Rowles, William
Clark, Alien Bowie Davis, Edward Hammond and
Reuben M. Dorsey, be and they are hereby appointed
commissioners, under the direction of a majority of
whom subscriptions may be received to the capital
stock of said bank, and they or a majority of them,
may cause books to be opened at such time or times,
and place or places as they may direct, for the pur-
pose of receiving subscriptions to the capital stock of
said bank, after having given at least three weeks
notice thereof in one or more of the public newspa-
pers printed in the cities of Baltimore and Annapolis,
and that upon the first day of the opening of the said
books, they shall be kept open from ten o'clock, a. m.
until four o'clock, p. m, and if at the expiration of
that period such a subscription of the capital stock of
said bank as is necessary to its incorporation shall
not have been obtained, the said commissioners, or a
majority of them, may cause the said books to be af-
terwards opened from time to time, for the space of