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INVESTIGATION OF CITY AFFAIRS*
REPORT ON THE ENDORSEMENT OF THE UNION RAILROAD
BONDS AND BUILDING A NEW CITY HALL—THE AU-
THORITY OF THE CORPORATION ALLEGED TO BE
EXCEEDED—THE DEBT OF THE CITY—BURDENS OF
TAXATION, &c.
The sub-committee of the committee on public works
of the Maryland Constitutional Convention, which was in-
structed to investigate the proceedings of the mayor and
city council of Baltimore, particularly with reference to
the endorsement by the city of the Union Railroad Com-
pany's bonds and to the building of a new City Hall, pre-
sented a lengthy report to the Convention on Saturday.
The sub-committee consists of Messrs. John H. Barnes,
Outerbridge Horsey and Fendall Marbury. With refer-
ence to the Union Railroad Company, chartered by the
General Assembly February 6, 1866, to construct a road
from the Relay House, on the Northern Central Railroad,
to tidewater at Canton, with lateral roads to the city, the
report says:
The charter makes the capital of the company six hun-
dred thousand dollars, represented by shares of the par
value of one hundred dollars each, with a provision that
so soon as fifteen hundred shares were subscribed, and
one dollar paid on each, the stockholders were authorized
to organize the company and exercise the powers granted
in the charter. The initial steps thus pointed out were
observed, and subscription books opened conformable to
law, and sixteen hundred and four shares being subscribed
the company, in due form of law, was organized.
The following is a list of the subscribers' names and
the amount taken by each, and also the amount paid:
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* Reprinted from The Sun of Monday, August 5, 1867,
513
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