THOMAS H. HICKS, ESQUIRE, GOVERNOR

213

CHAPTER 162.

A FURTHER SUPPLEMENT TO AN ACT
entitled an act to incorporate the Fredericktown
Savings Institution, passed at December ses-
sion, eighteen hundred and twenty-six, March
ninth, eighteen hundred and twenty-seven,
chapter one hundred and eighty-nine.

Passed March

2, 1858.

SECTION 1. Be it enacted by the General Assem-
bly of Maryland, That the charter of the Freder-
icktown Savings Institution be extended from the
expiration thereof, at the end of the General As-
sembly of Maryland, next after the year eighteen
hundred and sixty, to the end of the General As-
sembly of Maryland, next after the year eighteen
hundred and eighty.

Charter ex-
tended.

SEC. 2. And be it enacted, That it shall be law-
ful for the said Fredericktown Savings Institution
to issue and circulate notes, provided the issues at
any one time do not exceed one hundred thousand
dollars, and provided, the amount of coin on hand,
and State stocks, held shall be equal to one half
of the amount of notes in circulation, and pro-
vided the issues be redeemed in gold or silver
upon presentation or demand.

May issue and
circulate notes.

SEC. 3. And be it enacted, That the board of
directors may, if they think it expedient, reduce
the weekly deposits to the sum of two hundred
and fifty thousand dollars, and that the excess of
weekly deposits over that sum, should be paid to
the holders of the certificates of weekly deposits,
in proportion to the amounts severally held by
him, her or them.

May reduce
weekly depo-
sits.

SEC. 4. And be it enacted, That it shall be law-
ful for the board of directors, on the first Monday
of January and July, in each and every year, to
declare such dividends upon the weekly deposits,
as they may deem expedient, after retaining a
surplus to meet contingent losses.

May declare
dividends.

SEC. 5. And be it enacted, That the said Savings
Institution shall pay to the Treasurer of the State,
for the use of the School Fund, twenty cents on
every hundred dollars in circulation.

Institution to
pay the School
Fund.