614 DEBT—PUBLIC. [ART. 31.

the said treasurer, upon the warrant of the comptroller, into the
treasury of this State.

1888, ch. 301, sec. 4.

6. If any of the certificates of indebtedness, issued under this
article, remain unexchanged on the first day of July, in the
year eighteen hundred and eighty-nine, for sterling bonds or
certificates of sterling indebtedness issued under the act of
eighteen hundred and thirty-eight, chapter three hundred and
eighty-six, the governor, comptroller and the treasurer of this
State, or a majority of them, may at any time, after said last
mentioned day, give notice by advertisements published twice a
week, for at least four weeks, in two newspapers published ia
each of the cities of Baltimore, Philadelphia and New York,
before the day mentioned in said advertisements as the day for
opening the proposals thereby called for, that they will receive
sealed proposals for the purchase, of so many of such certificates
of indebtedness issued under the provisions of this article as.
may not have been exchanged, as provided for in this article,
at prices not less than the par or face value of the said cer-
tificates of indebtedness ond the interest accruing thereon.
On the opening of such proposals, so many of said certificates.
of indebtedness as have been so bid for, and the accruing;
interest thereon, shall be awarded by the said governor, comp-
troller of the treasury and treasurer, or the majority of them, to
the highest responsible bidder or bidders therefor for cash; and
when two or more bidders have made the same bid, and such bid
is the highest, the certificate of indebtedness so bid for shall be
awarded to such highest responsible bidders; and if the amounts
so bid for, at the same highest responsible bid, are in excess of
the whole amount of certificates of indebtedness so offered for
sale, such certificates of indebtedness shall be awarded to such,
highest responsible bidders bidding the same price in the propor-
tion which the amount each has bid for bears to the whole-
amount of said certificates of indebtedness so offered for sale. If
any of said certificates of indebtedness so offered for sale are not.
bid for, they may be subsequently disposed of under the direc-
tion of the governor, comptroller of the treasury and treasurer,
or a majority of them, at private sale, upon the best terms they