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the stockholders of the respective companies for which
they are appointed or elected. "
Mr. Carter moved to amend by inserting after the word
"and, " in the beginning of the first line, the words "unless
otherwise provided by law, " which was rejected.
The amendment of Mr. Syester was agreed to—yeas
85, nays 17.
Mr. Carmichael moved an amendment to come in at the
beginning of the second section, ''subject to the control
of the General Assembly, " which was rejected by a vote
of 62 to 28.
An amendment was offered by Mr. Barnes, but it was
rejected, as was also an amendment proposed by Mr.
Wickes.
Mr. Wickes then submitted the following amendment:
"And the provisions of the act of the General Assembly
of Maryland of the year 1867, chapter 359, are hereby de-
clared null and void, " which was adopted.
The fourth section was then taken up, as follows:
Section 4. The board of public works is hereby au-
thorized to exchange the State's interest as stockholder
and creditor in the Baltimore and Ohio Railroad Company
for an equal amount of the bonds or registered debt now
owing by the State, but in so doing shall exchange all the
preferred stock first, and the said board is authorized,
subject to such regulations and conditions as the General
Assembly may from time to time prescribe, to sell the
State's interest in the other works of internal improve-
ment, whether as a stockholder or a creditor, and also the
State's interest in any banking corporation, receiving in
payment the bonds and registered debt now owing by the
State, equal in amount to the price obtained for the
State's said interest; provided that the interest of the
State in the Washington branch of the Baltimore and
Ohio Railroad be reserved and excepted from sale; and
provided further, that no sale or contract of sale of the
State's interest in the Chesapeake and Ohio Canal, the
Chesapeake and Delaware Canal, and the Susquehanna
and Tidewater Canal companies shall go into effect until
the same shall be ratified by the ensuing General As-
sembly.
488
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