1905 private laws – Ch.255 Sec.8

That the said corporation may subscribe to, purchase. acquire or Jend money upon any stock, shares, notes, bonds, debentures or other securities of any government, State, municipality, corporation. company, partnership or person, and hold, deal in, sell or distribute the same among the stockholders; may negotiate or place in behalf of any corporation, company, partnership or person any shares, stocks. debentures. notes, mortgages or other securities, with or without guaranty or collateral obligation by said company or individuals; and may sell or subscribe any of the property, real or personal, or any interest acquired therein by it, to any other corporation for any portion of its bonds, securities, obligations or Capital stock, as may be agreed upon, without liability on such stock so purchased or subscribed for, beyond the agreed terms of said purchase or subscription; and that the said corporation may also receive on deposit all sums of money which may be offered it for the purpose of being invested, in such sums and at such times and on such terms as the board of trustees (or directors) may agree to, as an investment, or otherwise.