Chap. 0231 An Act to increase the Capital Stock of the Asiatic Bank.

Be it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, as follows :

Sect. 1. The president, directors, and company, of the Asiatic Bank, in Salem, are hereby authorized to increase their present capital stock by an addition thereto of ten thousand dollars, which shall be divided into two hundred equal

parts, which parts shall be added to the value of the present shares of said bank, so as to make their par value thirty dollars, and the additional capital stock herein provided, shall be paid in whenever the president and directors may direct: provided, that the whole amount shall be paid in before the first clay of May, in the year one thousand eight hundred and fifty-four.

Sect. 2. If any of the stockholders of said bank remonstrate against the acceptance of the additional capital herein provided, the said remonstrance shall be made in writing to the cashier on or before the first day of July next, and if the persons so objecting, legally represent one-fourth part of the capital stock in said corporation, it shall not be entitled to the benefit of this act.

Sect. 3. The additional stock aforesaid, when paid into said bank, shall be subject to the like tax, regulations, restrictions, and provisions, to which the present capital stock of said bank is now subject.

Sect. 4. Before said corporation shall proceed to do business on said additional capital, a certificate signed by the president and directors, and attested by the cashier, under oath, that the same has actually been paid into said bank, shall be returned mto the office of the secretary of the commonwealth.

Sect. 5. This act shall take effect from and after its passage.   [Approved by the Governor, April 28, 1853.]