and the time of such plaintiff or plaintiffs becoming a party or parties to said bill in equity, shall be excluded in ascertaining the period within which suits are required to be brought by the said statute of limitations. The costs taxable to any plaintiff or plaintiffs in any action at law which shall be abated under the provisions of this section, the plaintiff or plaintiffs in which action shall become a party or parties to a bill in equity under the provisions of this section, shall become a part of the costs taxable in the proceedings in said equity case.*

Deposits with State Treasurer by Certain Classes of Corporations.

1904, art. 23, sec. 106. 1900, ch. 212, sec. 85м. 1904, ch. 251.

118. Every life insurance company and accident insurance company incorporated under the laws of this State, and every safe deposit, trust, guaranty, loan and fidelity company or association, incorporated under any law of this or any other State, district or territory of the United States or any foreign country receiving money on deposit or assuming any obligation in this State, may, as the security on deposit now or hereafter required by law to be deposited with the Treasurer of Maryland by laws, and especially by Sections 110 and 157 of this Article, transfer and assign to said treasurer such first mortgage bonds of electric railways of this State as may be approved by the board of public works, in lieu of the kinds of securities now required by law to be deposited with said treasurer; or said companies may in lieu of said securities transfer and assign to said treasurer bonds secured by a first mortgage on real estate situated in the State of Maryland and owned by the company required by law to make such deposit whenever such bonds may be approved as security by the board of public works. If at any time the board of public works shall find that the bonds approved by them have either fallen in value or have ceased to be proper security to be held by said treasurer, then the said board shall direct any company having any of said bonds on deposit with him as security as aforesaid, to either deposit an additional number of bonds with said treasurer or to withdraw

Pittsburgh Steel Co. vs. Baltimore Equitable Society, 113 Md. 77, and cases under preceding section.

the said bonds entirely and substitute bonds of a different kind in their place; if the said company or companies owning said bonds shall fail, within ten days from the receipt of a notice from the treasurer to that effect, to alter, increase the number of said bonds on deposit or substitute bonds of a different kind in their place, as the board of public works may order, then the said company or companies shall be treated as being in default and shall be subject to all the penalties imposed on said companies for doing business in this State without depositing the proper securities with the said treasurer as now or hereafter provided by law.

1904, art. 23, sec. 107. 1904, ch. 251, sec. 85N. 1908, ch. 240, sec. 107.

119. It shall be lawful for the stockholders of any life insurance, accident insurance, safe deposit, trust or fidelity company, created by general law or special act, in general meeting assembled, from time to time, to provide for calling in and canceling the whole or any part of the capital stock, and issuing other stock instead thereof at such par value as they may decide on, to an amount not exceeding the true value of such stock, in such manner as to provide such contingent fund or surplus not represented by stock as they may decide to be necessary; provided that notice of every such meeting of stockholders shall be given in the manner required by Sections 15 or 16 of this Article, and the proceedings thereafter shall be similar to those prescribed in Sections 26 to 28 (both inclusive) of this Article.

Charters of Unorganized Companies.

Ibid. sec. 108. 1900, ch. 272, sec. 85a.

120. All corporations heretofore chartered under any of the laws of this State, except cemetery companies, companies created for purely benevolent or charitable purposes, railroad companies and building or homestead associations, which have not within two years from the date of the granting of their charters or certificates of incorporation actually organized and begun business, shall be conclusively presumed to have surrendered all corporate or charter rights, unless within six months from the first day of June, 1900, each of said corporations shall have paid to the Treasurer of this State a franchise

tax equal to one-eighth of one per-cent. per annum, accounting from two years after the date of the granting of such charter or certificate of incorporation, upon the amount of capital stock required to be subscribed before it is authorized to begin business, and upon payment as aforesaid, and receiving the receipt of the comptroller therefor the said corporate or charter rights shall continue.*

1904, art. 23, sec. 109. 1900, ch. 272, sec. 85B.

121. All corporations hereafter organized under any of the laws of this State, except as excepted in the preceding section, which shall not within two years from the date of the granting of their charters or certificates of organization actually organize and begin business shall, in addition to other taxes required by law to be paid annually after the expiration of the two years aforesaid, pay to the treasurer a franchise tax equal to oneeighth of one per cent. per annum until the said corporation actually organizes and begins business upon the amount of its capital stock required to be subscribed, before it begins business; on default of such payment annually all the corporate rights and franchises of such corporation shall be suspended until such payments have been made.

Ibid. sec. 110. 1900, ch. 272, sec. 85c.

122. All corporations mentioned in Section 120 and thereby required to renew their corporate rights and franchises, shall be required annually after such renewal, and until they actually organize and begin business, to pay the franchise tax required under the next preceding section of corporations hereafter organized, with like penalties in case of default. The several corporations mentioned in Sections 120, 121 and 122 of this Article, shall be liable for the payment of the franchise tax imposed herein upon their respective corporations, and in the same manner as though they had jointly and severally agreed to pay the same; and the State Tax Commissioner is Irereby charged with the duty of carrying the provisions of said sections into effect by assessing the said franchise tax upon the several corporations in said sections required to pay the same.

* See Article 23, sections 4 and 5.

Ibid, sec. 111. 1902, ch. 589. 1904, ch. 93.

123. From and after a period of one month subsequent to the first day of April, in the year 1904, every association or corporation doing business in the State of Maryland employing wage-workers, whether skilled or ordinary laborers, engaged in manual or clerical work, in the business of mining, manufacturing, operating a steam or electric railroad, street railway, telegraph, telephone or express company, shall make payment in lawful money of the United States semi-monthly to said employees, laborers and wage-workers, or to their authorized agents, at their respective places of employment, at intervals of not more than sixteen days and not less than fourteen days. In case any said corporations or associations doing business as aforesaid, or any of their officers, shall refuse to make payment at the times above set forth to their wage-workers, laborers or other employees the wages due them or any of them, said association, corporation or officer so refusing shall be guilty of a misdemeanor, and be liable to indictment therefor, and, upon conviction, shall be fined a sum not exceeding two hundred dollars for each offense.

1904, art. 23, sec. 112. 1894, ch. 629, sec. 104A.

124. No corporation incorporated under the laws of this State, for any purpose whatsoever, nor any foreign corporation doing business in this State, shall offer to procure or act as agent for any person or persons in procuring or making any loan of money or other valuable thing on the security of any chattels, nor shall make any loan of money or of any other valuable thing on the security of any chattels or otherwise, except in its own proper corporate name and for its own behalf or benefit; and no such corporation making any such loan, as aforesaid, shall be entitled to charge any borrower of money from it, or shall take from any borrower from it, or other person, any other thing for or in the name of premium or of compensation for renewing or continuing any such loan as it may be authorized to lawfully make, than lawful interest at the rate of six per centum per annum, for the term during which such loan shall be renewed or continued; and every security taken by any such corporation for any such loan as aforesaid shall express plainly the period of time for which such

loan is made, and the entire interest agreed to be paid for said loan for the term of such loan, which entire interest shall in no case nor by any means be made to exceed the rate of six per centum per annum on the money or other thing loaned for the term of such loan; and any contract or security for any such loan, or providing for the renewal or continuance of any such loan, made in violation of this section, shall be absolutely null and void. And no person or persons in this State shall assume to deal or act as a corporation, or in any corporate name or in any other than in his, her or their own proper name or names, in any of the matters or things prohibited by this section under a penalty of not less than fifty dollars for every offense, to be recovered by indictment in any Court having criminal jurisdiction in the city or county where any such offense may have been committed; and every security taken by any such person or persons in any such name of a corporation, or in any other than his, her or their own proper name or names, shall be absolutely null and void; provided, this section shall not apply to homestead and building and loan associations incorporated under the laws of this State.*

Companies for the Erection of Bridges.

1904, art. 23, sec. 113. 1888, art. 23, sec. 86. 1868, ch. 471, sec. 118. 125. If any corporation formed under the provisions of this Article shall desire to erect any bridge over any river, creek or stream of water in this State, or between this and another State, the said corporation shall first obtain the consent, in writing, of the county commissioners of the county in which said bridge may be proposed to be located; or if said bridge be proposed to be erected over a stream dividing two counties, then such corporation shall obtain the consent, in writing, of the county commissioners of both of said counties; and the resolution of the said county commissioners giving said consent shall be recorded amongst the proceedings of said commissioners, and also in the journal or book of proceedings of said corporation.

Ibid sec. 114. 1888, art. 23, sec. 87. 1868, ch 471, sec. 119. 126. The corporation may agree with the owners for the lands necessary for the abutments of the bridge, and for roads

* Commercial Association vs. Makenzie, 85 Md. 132.