1831.

LAWS OF MARYLAND.

CHAP. 330.

scription shall, in all respects, be the same as to the appor-

tionment of shares, forfeiture of stock for non-payment of

instalments when required, and power of the directors to

release forfeitures, and to require payment of instalments,

as are prescribed in the charter of the said company, in re-

Terms of subscrip-
tions &c. same as

gard to the original subscriptions, except where otherwise

in original act.

provided by this act.

Corporation of Bal-

Sec. 2. And be it enacted, That the mayor and city council

timore to subscribe.

of Baltimore, are hereby empowered to subscribe for five

thousand shares of the said additional stock, and to borrow

money or issue certificates of stock of the city, bearing in-

terest, if necessary, from time to time, to pay the instalments

required on the said stock, or if they shall deem it advisa-

ble to pay the same in advance, on such terms as they may

think proper.

State right reserv-

Sec. 3. And be it enacted, That the right and option re-

ed.

served to the State of Maryland by the second section of

the act to which this is a supplement, to take and hold an

interest in the cost of the construction of the rail road au-

thorised by the said act, shall not be impaired or affected

by any thing contained in this supplement, and the subscrip-

tion authorised by this act, of additional shares of stock for

the purpose of constructing the said rail road, shall be res-

tricted accordingly to such amount as shall exceed three

eights.

Company authoris-

Sec. 4. And be it enacted, That the president and direc-

ed to borrow.

tors of the Baltimore and Ohio Rail Road Company, shall

be, and they are hereby authorised to borrow, from time to

time, any sum or sums of money, which, in addition to the

stock subscribed as authorised by this act, and the amount

of separate stock elected to be taken by the state as afore-

Sufficient to com-
pleat.

said, shall be necessary to effect the construction and com-

pletion of the rail road aforesaid; to place thereon the ne-

cessary cars, and other carnages and moving power, for

travelling and transportation; and to provide such stores,

and other buildings, scales, weights, and other implements

as shall be necessary for the beneficial use of the said rail

road; and the said president and directors are also hereby

To pledge proper.

ty.

authorised to pledge the property and funds of the said

company, as a security for the payment of any and every

sum of money so borrowed, and the interest thereon; Pro-

vided alioays, That the authority granted by this section

shall not be exercised until this section shall be sanctioned

Provided stock-
holders approve.

and approved of by a majority of votes of the stockholders

present, or represented at a general meeting, called in the

manner piovided by the eighth section of the charter of the

said company.