300 LAWS OF MARYLAND. [CH. 175

dispensaries or branch dispensaries, provided that such ship-
ment is not prohibited by law applicable in the place where
shipment is consigned.

The Liquor Control Board shall keep accurate records of all
purchases of alcoholic beverages, which records shall be open
to inspection by the Comptroller or any of his Deputies during
all regular business hours, and shall also prepare and forward
to the Board of County Commissioners, a report for the period
ending on April 30th, in each year, which report shall contain
a full and complete statement of the business transacted by
the Board and the results of the operation of the dispensaries
or branch dispensaries established under the authority of this
Section.

All net profits arising from the operation of said dis-
pensaries shall be first applied towards the payment of any
and all sums advanced to or borrowed by the Liquor Control
Board. After such sums have been paid, the said Board shall
be authorized to create and maintain a reserve fund not to
exceed $5, 000. 00, to provide adequate working capital and to
meet any losses that may be sustained by the Board in the
operation of such dispensaries. Fifty per centum (50%) of
all net profits in excess of the above shall belong to and be
paid over to the County Commissioners of Worcester County
on or before May 1st, in each and every year, and the remain-
ing fifty per centum (50%) shall, on or before June 1st each
year, be paid to the Mayor and City Council of Berlin, Ocean
City, Pocomoke City and Snow Hill in proportion to the net
profits on total sales of the dispensaries in each of said towns.

The amounts paid to the Mayor and Council of Berlin, Ocean
City and Snow Hill shall be used for general municipal pur-
poses.

The amount paid to the Mayor and Council of Pocomoke
City shall be used to pay the interest and principal of bonds of
said town dated January 1, 1937 and aggregating $26, 000. 00,
to be used with Federal funds to construct a Municipal Build-
ing, and said funds shall be used for no other purpose until
all of said bonds have been paid.

After the above-mentioned bonds of Pocomoke City have
been fully paid, then Pocomoke City's share of the net profits
to the amount of $5, 000. 00 shall be held in trust by the Mayor
and Council, the income to be paid to the Treasurer of the
Pocomoke Public Library, Inc., to be used exclusively for the
purchase of books for said Library. The Mayor and Council
shall invest the principal of the trust fund only in bonds of the
United States, State of Maryland, or of any county, city, town
or other political sub-division of the State, or in mortgages on
real estate situated in Worcester County, but no investment
shall be made except on the written recommendation of the