E. LOUIS LOWE, ESQUIRE, GOVERNOR.
141
county, in Maryland, for its confirmation as in the
case
of chancery sales, after such notice of such sale and
mode of publication as said court of the judge thereof
may direct and upon confirmation of such sale by the
said court, the said trustees for the time being, shall
execute and deliver to the said purchaser or purchasers,
a deed or deeds, conveying and assuring to him or them,
his or their heirs executors, administrators and assigns,
all the estate property, real and personal, together with
the franchises, rights and privileges of the said company
as hereinafter authorised and directed, which deed
or deeds, shall be duly acknowledged as required by
the laws of this State, and recorded among the land
records of Washington county.
|
|
SEC. 2. And be it enacted,
That in case any vacancy
shall occur by the death, resignation or refusal to act
of any or all of the trustees hereinbefore named or from
any other cause, the said circuit court or the judge
thereof, shall have power to supply such vacancy or
vacancies, and that the said trustees appointed by this
act, or who may be appointed as aforesaid, shall before
they proceed to make said sale, give bond to the State
of Maryland, in such penalty as the said court or the
judge thereof shall direct, and to be approved by him,
conditioned for the faithful discharge of the duties imposed
upon them by this act.
|
Vacancy—
how filled.
|
SEC. 3. And be it enacted,
That the said trustees
shall be entitled to the same commissions as are allowed
on chancery sales in Washington county aforesaid, as
a compensation for their services, together with all reasonable
expenses incurred by them in said sale, and
the proceeds of said sale after deducting therefrom all
costs, expenses, fees and commissions shall be by them
distributed among and paid to the creditors of said
Franklin rail road company, according to their respective
claims to be in full discharge of their said claims
and demands.
|
Commissions
to be allowed.
|
SEC. 4. And be it enacted,
That the said trustees
shall have full power in making said sale to sell, transfer
and convey all the rights, franchises, privileges and
advantages, possessed by the Franklin Rail Road company,
under its charter or act of incorporation, and all
other acts of the General Assembly of the State of Pennsylvania
in relation thereto; as also the act of the General
Assembly of this State, passed at December session,
eighteen hundred and thirty-six, chapter seventy-nine,
for extending, locating and constructing said road into
this State; and that the purchaser or purchasers of the
said road, rights, privileges, advantages and franchises
|
Power to
transfer rights,
&c.
|
|
 |
