100
ft
Moneys to be
invested.
Securities.
(
Annual ac-
counts.
Pay taxes.
!
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LAWS OF MARYLAND.
trustees the one-fifth part of all such proceeds of
sale, or to render to said trustees annual accounts as
aforesaid, it shall he the duty of the trustees to compel
and enforce the same by legal proceedings.
SEC. 3. And be it enacted, That all moneys which
shall come into the hands of said trustees, as afore-
said, shall without delay be invested by them in said
bonds, if they can, in the judgment of said trustees,
be purchased at reasonable rates, and when so pur-
chased, said bonds shall be stamped as follows:
"Purchased" and cancelled by the trustees of the
sinking fund, and not to be re-issued, and shall then
be returned to the Canton Company; and all moneys
received by the trustees as aforesaid, which shall not
be so invested, shall without delay be invested by
them in bonds or stocks of the State of Maryland, or
the City of Baltimore, or in such other property,
bonds, stocks or securities, as would he selected by
Courts of this State for the investment of trust funds,
and such investments may be changed from time to
time into others of the description above mentioned,
in the discretion of said trustees, and said trustees,
whenever the said bonds of the Canton Company
can, in their judgment, be purchased at reasonable
rates, shall from time to time sell the property held
by them as a sinking fund, or such portion thereof
as they may deem expedient, and invest the proceeds
of sale in said bonds of the Canton Company, and
the bonds so purchased, shall be stamped and re-
turned, as aforesaid, and in no case where any sale
of property is made by said trustees shall the pur-
chaser or purchasers be responsible for the applica-
tion of the purchase money. The said trustees shall
render to the said Canton Company annual accounts,
under oath, of the condition of said sinking fund,
and of all money received or paid by them.
SEC. 4. And be. it enacted. That said trustees shall
have the power to pay taxes on the property of the
sinking fund, and all necessary and proper expenses,
including a charge, if need be, for the collection of
interest, dividends and rents, and for keeping the
accounts of the trust, for which purpose they may
employ an agent or agents, and allow a reasonable
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