HENRY LLOYD, ESQUIRE, GOVERNOR.

263

WHEREAS the Western Maryland Railroad
Company, by the terms of its obligations, is en-
titled to pay the whole of said indebtedness
before the maturity thereof, and it is desirable
to pay and extinguish so much thereof as is
held by individuals in the manner hereinafter
mentioned; and

Preamble.

WHEREAS the County Commissioners of Wash-
ington County have agreed, that upon the pay-
ment of the principal of the second mortgage
bonds of the said railroad company, guranteed
by them, the said County Commissioners will
surrender all the coupons on said bonds paid by
them, and accept in lieu and satisfaction
thereof the preferred stock of the Western
Maryland Railroad Company, thus reducing the
indebtedness having priority over that of the
Mayor and City Council of Baltimore, under its
two mortgages above mentioned, by the sum
of three hundred and six thousand dollars ;
and

Preamble.

WHEREAS the Mayor and City Council of Bal-
timore, by ordinance approved on the tenth
day of March, being ordinance number eleven
of eighteen hundred and eighty-six, entitled
an ordinance to provide for issuing the stock
of the Mayor and City Council of Baltimore,
and to sell the same for the purpose of pro-
viding the means to enable the Western Mary-
land Railroad Company to pay and extinguish
all of its first and second preferred mortgage
bonds, and the overdue coupons thereon, ex-
cept such of said bonds and coupons as are
held by the Mayor and City Council of Balti-
more, and to pay and extinguish all the bonds
of said company secured by its second mort-
gage, and guaranteed by the Mayor and City
Council of Baltimore, and by the County Com-
missioners of Washington county, respectively,
and to provide a sinking fund for the redemp-
tion of said stock, have provided for the issue
of any amount not exceeding one million eight
hundred thousand dollars of the stock of the

Preamble,