752

LAWS OF MARYLAND.

certificates of indebtedness; if any of said cer-
tificates of indebtedness so offered for sale, are
registered, the time from which interest shall
begin to run thereon shall be endorsed on such
certificates of indebtedness before they are de-
livered to the purchaser thereof; proposals
for said certificates of indebtedness, or any of
them, shall be advertised at least twice a week,
for four week before the time fixed for open-
ing such proposals, and shall be so advertised at
the expense of the State in two newspapers
published in the city of Baltimore, and in the
like number of newspapers published in each
of the cities of Philadelphia, New York and
Boston; said certificates of indebtedness and
the accruing interest thereon, shall be awarded

Awarded.

to the highest bidder or bidders, therefor, for
cash; and when two or more persons have
made the same bid, and such bid is the high-
est, the certificates of indebtedness so bid for,
shall be awarded to such highest bidders; and
if the amounts so bid for at the same highest
bid are in excess of the whole amount of cer-
tificates of indebtedness so offered for sale, such
certificates, of indebtedness shall be awarded
to such highest bidders, bidding the same price
in the proportion which the amount each has
bid for, bears to the whole amount of said
certificates of indebtedness so offered for sale.

SEC. 6. And be it enacted, That any person
or corporation, making an accepted bid under
the proposals provided for in this act, for the
sale of bonds not exchanged for those bonds
or certificates of indebtedness which are re-
ferred to in the preamble of this act, as already

Accepted bid.

matured, or making an accepted bid under the
proposals provided for in this act for the sale
of certificates of indebtedness not exchanged
for the bonds or certificates of indebtedness of
this State referred to in the preamble of this
act, as maturing in the year eighteen hundred
and eighty-seven, shall have the privilege of
paying for said certificates of indebtedness so
purchased, or any part thereof, in the unex-