ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

199

least two passenger and two freight trains daily in both directions

npon said railroad for the whole distance thereof, unless pre-

Trains.

vented by floods or unavoidable accidents.

SEC. 6. And be it further enacted, That in case any of the

holders of the bonds issued under the act of eighteen hundred

and forty-four, chapter two hundred and eighty-one, shall fail

or refuse to accept their pro rata share of the sum thereof pro-

vided to be paid by said Washington and Cumberland railroad

company to the treasurer of this State for the redemption of the

said bonds, or for any other cause, in the discretion of the presi-

dent and directors, it shall be lawful for said Washington and

Cumberland railroad company or its attorney or attorneys, duly

constituted according to law, as the assignee of the mortgage

executed by said Chesapeake and Ohio canal company to the State

of Maryland, and of the other liens and mortgages hereinbefore

To sell

mentioned, to proceed to sell at public sale the whole of said

Chesapeake and Ohio canal and all its property, works and water

rights under said mortgages and liens, upon giving ninety days'
notice of the time, place and terms of sale, to the highest bidder,

at which sale it shall be lawful for said Washington and Cum-

berland railroad company to purchase said mortgaged property ;

such sale shall be reported to the circuit court for any of the

counties of Allegany, Washington, Frederick or Montgomery for

ratification, and thereupon there shall be the like proceedings as

are provided for by the Code of Public General Laws, article

sixty-six, title "Mortgages," and such court shall pass such order

or decree touching such sale and the distribution of the proceeds

thereof as may be right, with the same right of appeal to all par-

Proceeds.

ties to said proceedings as is now allowed by law; and in case at

such sale the said Washington and Cumberland railroad company
shall become the purchaser of said canal and its works and such

sale shall be finally ratified, the said annuity of fifteen thousand

dollars redeemable as hereinbefore provided shall not cease, but

shall continue to be payable and redeemable by said company as

fully to all intents and purposes as if said sale had not been

made; and in case it shall be decided by the court of last resort

that the holders of the preferred construction bonds issued under

said act of eighteen hundred and forty-four, chapter two hun-

dred and eighty-one, are not entitled to said proceeds of sale or

any part thereof, then this State shall be entitled to receive from

said Washington and Cumberland railroad company such portion

of said twenty-five per cent, of the principal of said bonds here-

inbefore provided to be paid by said company to the State treas-

urer for the purchase or payment thereof, as shall not be applied

by the State treasurer for that purpose; it being the intention of

this act that in the event of a final adjudication that said bonds

issued under said act are not entitled to be paid out of said net