A. W. BRADFORD, ESQUIRE, GOVERNOR.

subject to the approval of a majority of the stock-
holders.

255

Sec. 7. And be it enacted, That the President
and Directors, shall from time to time declare and
pay the stockholders dividends of so much of the
profits realized by the company as they shall deem
expedient, after reserving such sum as they shall
decide to be reasonable, to meet the expense of
repairs, or the purchase of any articles necessary
for the use of said company, and also at the pay-
ment of each dividend of profits, a general state-
ment of the affairs of the company shall be
prepared by the Directors, and kept open for the
inspection of the stockholders or any of them,
for the «pace of ten days after the same shall have
been presented to them.

Dividends.

Sec. 8. And be it enacted, That this corpora-
tion shall not be permitted to issue any note, token,
device or other evidence of debt, to be used as
currency.

Banking pro-
hibited.

Sec. 9. And be it enacted, That this act shall
take effect from and after its passage.

In force.

CHAPTER 151.

AN ACT to incorporate the town of New Town in
Worcester County.

Passed March
21, 1865.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the citizens of the town of New
Town, in Worcester county, shall be, and they are
hereby constituted and made a body corporate by,
the name of the Commissioners of New Town, with
all the privileges of a body corporate, and to have
a common seal and perpetual succession.

Incorporated

Sec. 2. And be it enacted, That the free male
white citizens of New Town aforesaid, of the age of
twenty-one years and upwards, being citizens of
the United States, who have resided in the said
town for, or during the space of six months next

Commission-
ers to be elect-
ed.