168
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LAWS OF MARYLAND.
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1830,
CHAP. 158.
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to subscribe for and furnish a portion of the funds to be
used in the construction of the rail road authorised by this
act, to an amount not exceeding one hundred thousand dol-
lars, to be divided between the said corporations, in pro-
portion to their respective capitals, and which the said
companips shall respectively pay by instalments, to be
called for by the Baltimore and Ohio Rail Road Company,
from time to time, in just proportion to the expenditures
made on the said rail road; and the payments for the sub-
scriptions aforesaid shall be considered as an addition to the
present capital of the said two corporations, and may be
accordingly noticed in their certificates of the capital stock
thereof; ana the said respective turnpike road companies,
in their corporate capacities, shall be entitled to receive and
hold, as a part of their capital stock, the amount which
shall have been subscribed and paid by them as aforesaid,
in the same description of stock which shall be elected to
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Provisos.
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be taken by the state, as provided in this act; Provided al-
ways, that the dividends to which the said turnpike com-
panies shall be entitled, in virtue of any subscription and
payment as aforesaid, shall be applicable, in the first place,
to put and keep their respective portions of said turnpike
road in good and sufficient repair; and that the legislature
may provide by law for retaining any such dividend, whea
any part of the said road shall be out of repair, and for the
application of so much of said dividend as shall be proper
and necessary for the repair of such road; Provided also,
that in case the state of Maryland shall not elect to take
stock in the manner herein before provided, then the Bal-
timore and Ohio Rail Road Company shall be entitled and
bound to permit the said turnpike road companies respcc-
tivelv, at their option, to subscribe for and take stock of
the said Baltimore and Ohio Rail Road Company, at the
par value thereof, to the amount which the said turnpike
road companies shall have severally subscribed and paid as
aforesaid, or if so required by the said turnpike road com-
panies, to return and pay to them respectively, the money
which either of the said companies may have subscribed and
paid, with interest thereon, at the rate of five per centum
per annum from the time of its payment, until it shall be
returned as aforesaid; and that the respective determina-
tions of the said turnpike road companies, to subscribe
and pay as aforesaid, shall be signified by resolutions oi
the president and managers of each company, under their
corporate seal, and he so certified to the Baltimore and
Ohio Rail Road Company, on or before the first day of
May next, otherwise the rights granted by this section,
and the provisions therein contained, shall be void.
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