484 JOURNAL OF PROCEEDINGS [Mar. 14,

receipts for transportation of passengers over the Washington
Branch of its road, as provided by the eighth Section of the
Act of eighteen hundred and thirty-two, Chapter one hun-
dred and seventy-five, on the ground of the said contract
having become onerous and inequitable in its operation,
since the opening of a competing road, subsequently chartered
under the authority of this State.

And, whereas, It is deemed by this General Assembly to
be just and proper as an equitable settlement of all contro-
versies now pending between said Company and the State,
that the said Company, in consideration of its release from
the said contract, and in lieu of its obligation of payment
thereunder, shall agree to a modification of its contract with
the State for exemption from taxation, as provided by the
eighteenth Section of the Act of eighteen hundred and twenty-
six, Chapter one hundred and twenty-three, incorporating
said Company, by submitting to taxation to the extent of
one-half of one per centum of its gross receipts within the
State, as hereinafter provided , now, therefore,

Sec. 1. Be it enacted by the General Assembly of Maryland,
That all the franchises and property of every description,
and gross receipts of the Baltimore and Ohio Railroad Com-
pany within the State of Maryland, shall be subject to taxa-
tion for State purposes to the extent of an annual tax of one-
half of one per centum on the gross receipts of its railroads
and branches within this State, including its Metropolitan
Branch Railroad, and from its entire Washington Branch
Railroad, and from all other sources within this State, but to
no further or greater extent nor otherwise, and provided the
said Company, in consideration, of the release of its obliga-
tion, to pay to the State the one-fifth of its gross receipts for
the transportation of passengers over the Washington Branch
of its road, as provided by the eighth Section of the Act of
eighteen hundred and thirty-two, Chapter one hundred and
seventy-five, shall agree on its part, in the manner and upon
the terms hereinafter provided, to modify its contract for ex-
emption from taxation, as contained in the eighteenth Sec-
tion of the Act of eighteen hundred and twenty-six, Chapter
one hundred and twenty-three, incorporating said Company
by submitting all its franchises and property of every de-
scription, and all its gross receipts, within the State of Mary-
land, to taxation for State purposes, to the extent and in the
manner above named, and to no further or greater extent,
nor otherwise, and shall also accept, the provisions of this
Act in the manner hereinafter provided, then no other and
further or greater tax or burden for State purposes shall ever
hereafter be levied or imposed by the authority of this State,