SAMUEL SPRIGG, ESQUIRE, GOVERNOR.

1820.

vided by said act of incorporation, which said seven directors
shall have all the rights, power, authority and privileges, which
the said eleven directors had or might lawfully exercise under and
in virtue of the aforesaid act of incorporation, and shall have all
the powers to sue or prosecute any cause of action in any court
of law or equity in this state, or any of the United States, in the
same manner which the said eleven directors might have done;
nor shall the education of the said directors from eleven to seven
be so construed as to impair the right of the said President, Di-
rectors and Company, of the Bank of Caroline, to prosecute any
suit now pending in the courts as aforesaid, in the same manner
as if the said number had not been diminished: and the president
and three directors shall constitute a board for the transaction of
business, but the ordinary renewals of paper already discounted,
may be made by the president and two directors.

CHAP. 94.

4. And be it enacted, That the president and directors shall
hereafter have power to bell and dispose of, either at public or
private sale, all the real and personal estate of said bank.
5. And be it enacted, That when the debts due from the said
bank are paid and discharged, it shall be the duty of the presi-
dent and directors to make dividends of the funds of the bank
which they may have received, among the stockholders, every four
months.

May dispose of re-

al and personal
estate.

When debts due
from bank are
paid, dividends
to be made.

6. And be it enacted, That the president and directors aforesaid
shall have power to dismiss the cashier, and such other officers as
they shall deem unnecessary, and may appoint an agent for the
collection of the debts due to the said bank, and may take a bond
in such sum as they shall derm necessary, with one or more suffi-
cient securities, conditioned for the faithful performance of the
duties imposed on him as collector, and the president and direc-
tors shall have power to remove all the books and papers of the
said bank from the, town of Denton, to any other place in said
county which they may deem proper.

May dismiss cash-
ier and other offi-
cers.

CHAP. XCV.

An Act for the benefit of the Baltimore Exchange Company,
WHEREAS under and by virtue of an act passed at December
session one thousand eight hundred and fifteen, and entitled, An
act to condemn a lot in the city of Baltimore for a street, a cer-
tain lot therein described was, pursuant to the provisions of the
said act, condemned for a street for the benefit of the Baltimore
Exchange Company, and of the city of Baltimore, and the valu-
ation of the said lot, made in pursuance of the provisions of the
said act, was paid by the Baltimore Exchange Company to the
persons severally interested in the said lot; and it is now repre-
sented to the general assembly, on the part of the said Baltimore
Exchange Company, that the street opened by them, of which
the said lot forms a part, is not wanted for the purposes of the
said city, and is wholly useless as a street, there being another
street running parallel to it, at the distance of not more than
sixty feet from it, and connecting the same two streets; and that
although the said street is convenient and useful to them, the said
Baltimore Exchange Company, inasmuch as it affords in one
direction a more ready access to their building, yet this advan-

Passed Jan 20, 1821.
Preamble.