Chap. 103.—An ACT to Incorporate the Mechanic’s Mutual Building Fund
and Dollzr Savings Bank of the City of Staunton.

In force February 21, 1872.

1. Be it enacted by the general assembly, That John B.
Evans, James H. Waters, W. H. H. Lynn, E. M. Cushing, S.
M. Yost, D. E. Strasburg, J. G. Wiley, J. C. Marquis, W. R.
Blackburn, J. M. Hardy, and their associates and successors,
shall be and they are hereby incorporated and made a body
politic and corporate, under the style of the Mechanics Mutual
Building Fund and Dollar Savings Bank of the city of Staun
ton, and by that name are made subject to, and to have the a.
benefit of all the provisions of the fifty-ninth chapter of the *
Code of Virginia, together with all other parts of the said
Code, that are applicable to savings banks and building funds,
except so far as they be inconsistent with this act.

2. The said company shall have power and authority to in- mn
vest its capital, or other funds in bank, or other stocks, in the “
purchase of state, or United States stocks, or bonds of incor- L:
porated companies; to lend money upon personal or real se- “
curity, and receive deposits of sums vf one dollar or more, and G
give certificates therefor; to guarantee the payment of notes, p
bills of exchange, bonds and all other evidences of debt, and
to discount the same: provided, however, that nothing in this R
act contained shall be construed to authorize said savings ®:
bank to take or charge for the loan or forbearance of money or
other thing more than the legal rate of interest.

3. The capital stock of said association shall not be less than c,
five thousand dollars, which may be increased from time to
time to a sum not exceeding three hundred thousand dollars,
divided into shares of one hundred dollars each; the said capi-
tal stock shall be payable by each subscriber, at such time or
times as may be agreed upon by the by-laws of the association.

4. This act shall be in force from its passage, subject toc
amendment, alteration or repeal at the pleasure of the general ©
assembly. re