1835.

LAWS OF MARYLANDi

to the Treasurer of the Western Shore, that a suffi-

CHAP. S95.

cient amount has been subscribed to the stock of said

company, to justify the commencement of the con-

struction of their canal, and to insure jits completion

by the most Northern practicable route; And le it fur-

Case of not suffi

cient subscrip-

ther provided, That in the event that the said stock of

tion to E. Shore

R. R.

the Eastern Shore rail road shall not be subscribed to

an amount sufficient to commence the said road, by in-

dividuals or corporations, as provided for by this act, .

that then and in that case the million of dollars set

apart for and intended to be applied to said work, shall

Faith pleclpeil to

be held sacred, and the faith of the State is here by

appropriate one million to E. S.

pledged, that the said million of dollars shall be appli-

improvement

ed to the exclusive purpose of Internal Improvementts

on the Eastern Shore, and for no other purpose what

ever, and shall be subject to disposition by any future,

Legislature for this purpose, after the time shall have

expired for commencing the work, as proposed in the

charter for the Eastern Shore rail road company.

Before subscription

SEC. 9. And be it enacted, That before any subscrip-

to B & O. R. R.. Co. their obliga-

tion shall be made to the capital stock of the said Bal-

tion, required to pay 6 per t-ent thereon, after

timore and Ohio Rail Road Company, under and by vir-

tLixe years

tue of this act, the stockholders of said company shall.

in general meeting assembled, stipulate, agree and»

bind the said company by a proper instrument of wri-

ting, signed by the president, and under the corporate

seal thereof, to be lodged with the treasurer of the

Western Shore, to guarantee to the State of Maryland,

after the expiration of three years from the payment

by the State, of each of the instalments on the stock

hereby authorised to be made to the stock of said com-

pany, the payment from that time, out of the profits of

the work, of six per centum per annum, payable semi-

annually, on the amount of money which shall be paid

to the said company, under atid by virtue of this act,

until the clear annual profits of the said rail road shall

be more than sufficient to discharge the interest, which

it shall be liable so to pay to the State of Maryland

Fill adequate, &c

and shall be adequate to a dividend of six per centum

per annum, among its stockholders, and thereafter the

State shall in reference to the stock so subscribed for,

and on so much thereof as the State may hold, be enti-