THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

the portion to be redeemed, and all interest and right

CHAP. 379.

to claim the same by any holder of any portion of the

said John Randcl, Junr's, funded debt, who shall fail

to present his certificate as aforesaid, or shall refuse or

neglect to accept payment, shall cease from and imme-

diately after the day appointed for redemption, and in

lieu of the notice aforesaid, a persona! notice shall be

deemed sufficient, or an advertisement in two of the.

daily newspapers of the place, in which the holder of

the portion or portions intended to he redeemed shall

reside; Provided however, that this right of redemption

Provisoes

shall always be exercised only at the time of a semi-

annual payment of interest falling due; and provided

further, that the said John Randel, Jr., or any of the

holders by assignment or transfer of any part of the

said debt so funded for his benefit, shall not be requir-

ed to receive at one time a less sum than ten thousand

dollars, unless the portion or share so to be redeemed

and which may be held at any time by the said John

Handel, Jr., or by any other person by assignment or

transfer, shall be less than that sum.

SEC. 5. And be it enacted, That if the said debt of

If not paid in five

the said John Randel, junior, and his assigns, be not

years

redeemed within the said period of five years from the

first day of July, eighteen hundred and thirty-six, it

Execution autho-

shall be lawful for the holder of any portion thereof, at

rised

any time after that period, to proceed by way of dis-

tress and sale to sell the said canal, and any property

belonging to the said company wheresoever the same

may be found, or so much thereof as shall be necessary

to redeem the portion of debt held by them, the pro-

ceeds of sale to be first applied to the payment of said

debt; Provided, that no such proceedings shall be in-

Proviso 40 day's

stituted until after forty days' written notice to the

jutice

president and directors of the said company, and a

like notice published in at least two newspapers in the

city of Philadelphia, and at least two newspapers in

the city of Baltimore; and the said debt so fund for

the benefit of the said John Randel, junior, and any

Preference and pri-ority

and every portion thereof shall have priority and pre-

cedence over any and every other debt, claim, mort-

gage, judgment and incumbrance, whatsoever and