of the General Assembly of Maryland, passed at Jan-
uary session, eighteen hundred and sixty-six, chapter
one hundred and nineteen, entitled "An Act to in-
corporate the Union Railroad Company of Balti-
more," and to authorize the "Mayor and City Councilman of Baltimore, the Northern Central and
Western Maryland Railroad Companies, and the
Canton Company, to subscribe for the capital stock
thereof, and to endorse the mortgaged bonds of said
Company, subscribed for fifty-nine hundred and
forty shares of the capital stock of the Union Rail-
road Company of Baltimore.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That the said Canton Company of Balti-
more be and it is hereby authorized and empowered
to issue its bonds, bearing six per cent. interest, in
such gums and payable at such times as may be
deemed expedient, in England or in the United States,
in sterling money or in gold coin of the United States,
and for such an amount as may enable said Canton
Company of Baltimore, by the sale or disposition
thereof, to pay its said subscription for said fifty-nine
hundred and forty shares of the capital stock of the
Union Railroad Company of Baltimore.
SEC. 2. And he it enacted. That said Canton Com-
pany of Baltimore shall set apart and pay to George
S. Brown, Robert T. Baldwin, and Charles J. Baker,
trustees, a portion not less than one-fifth part of the
proceeds of sale of all the real, leasehold, or personal
property of said company, which it may hereafter
sell, as soon as such proceeds or any part thereof
shall be received by said company, for the purpose
of creating a sinking fund for the redemption of said
bonds, until the whole thereof shall have been paid
by said company or redeemed by said trustees, and
and said. Canton Company shall annually, under the
oath of its President, render to the said trustees an
account of all the sales of real, leasehold, or personal
property which it has made during the preceding
year, and the amount of the proceeds of sale of all
such property which it has received during said
period, and the date of such receipts, and if said
Canton Company shall fail to pay promptly to said
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Issue bonds.
S
Pay subscrip-
tion.
Trustees.
Sinking fund.
Penalty for
failure to pay
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