CHAPTER 30.

Entitled, AN ACT to authorize the Baltimore
Steam Packet Company to issue bonds, and in-
crease their capital stock to the amount of their
expenditures.

Passed Feb.
15,1867.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the Baltimore Steam Packet
Company, be and they are hereby authorized to is-
sue bonds of one thousand dollars each to an
amount not exceeding three hundred thousand
dollars and bearing interest at a rate not exceeding
six per centum per annum, which said bonds may
be disposed of by the Baltimore Steam Packet Com-
pany in such manner as the Stockholders may in
general or special meeting direct.

Authority to
issue bonds.

Sec. 2. Be it further enacted, That the Baltimore
Steam Packet Company are hereby empowered for
the purpose of securing the payment of both the
principal and interest of the bonds authorized by
this Act to create a mortgage or lien upon any
portion or upon the whole of their property, either
by deed of trust or otherwise as may be deemed to
be most judicious, and further for the purpose of
promoting the sale of the said bonds; the Balti-
more Steam Packet Company may issue them in
such form as will enable the holder or holders there-
of to convert and exchange each of the said bonds
into one share of the capital Stock of the said Bal-
timore Steam Packet Company at such time prior
to their maturity as may be stipulated for on the
face of said bond with or without the right
to the holders of said Stock to vote thereon
as the said Company may have determined at the
time of the issue of said bonds for winch purpose
the Baltimore Steam Packet Company are empow-
ered to increase their capital Stock to such an
amount as will enable them to carry out the provi-
sions of this Act.

Company to
create a mort-
gage or lien
upon their pro-
perty.

Sec. 3. A it enacted, That this Act shall
take effect d after the time of its passage.

In force.