252

LAWS OF MARYLAND.

three, entitled "An ordinance to aid the Baltimore

and Ohio Railroad Company by a loan to the

amount of tive millions of dollars to complete their

road to the city of Wheeling, fund their debts, and

especially to lay a double track as far as Piedmont,

two hundred and eighteen miles from Baltimore;

ten per cent, of the proceeds of the sale of the cer-

tificates of stock of the Mayor and City Council of

Baltimore, authorized thereby, was reserved as a

sinking fund for the payment at the maturity of the

principal of the loan, and was directed to be in-

vested, together with the increment thereof, from

Preamble.

time to time, in the public debt of said city; and in

pursuance of said authority a large fund has been

so accumulated which, on the first day of April,

eighteen hundred and eighty-one, amounted to two

millions three hundred and thirty-six thousand nine

hundred and fourty-four dollars and sixty-one cents

($2,336,944.61); and whereas a continued compli-

ance with the provisions of said ordinance, by the

purchase of certificates of the city's indebtedness

on account of said sinking fund at the prices which

they now and for the future are likely to command,

must operate a great hardship on the said company

without a corresponding advantage to the city of

Baltimore —

SECTION 1. Be it enacted and ordained by the

Mayor and City Council of Baltimore, That the

Baltimore and Ohio Railroad Company be and is

Authorized to

hereby authorized to pay annually to the Register

pay annually.

of the city of Baltimore a sum of money which

shall equal the difference between three hundred

thousand dollars and the annual interest upon the

sinking fund provided for by the ordinance to which

this is a supplement, as said fund may be at the date

this ordinance takes effect; and the said sum shall

be paid at the times and in the manner required by

the mortgage provided for in said ordinance; and

that said register is hereby authorized and directed

to receive such sum in full payment of all claims

for interest on the indebtedness of said company

secured by the mortgage aforesaid.

SEC. 2. And be it enacted and ordained, That

the said register, after this ordinance takes effect,

shall not be required to invest in the public debt of