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Sale of certifi
cates.
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SEC. 4. And be it enacted, That in order to provide for the
selling of the certificates of indebtedness aforesaid, issued
under the provisions of this act, the Governor, Comptroller of
the Treasury and the Treasurer of this State, or a majority of
them, be and they are hereby directed to advertise twice a
week for six successive weeks, between the 1st day of April
and the 1st day of June, 1896, in two newspapers published in
each of the cities of Baltimore, Philadelphia and New York,
that the Treasurer of this State will be in readiness, between,
the 1st day of June and the 1st day of July, in the year 1896,
to sell at such place or places as may be named in said re-
spective advertisements, the bonds or certificates of indebted-
ness issued under the provisions of this act, under such regu-
lations as may be made, in the discretion of the said Governor,
Comptroller of the Treasury and Treasurer, or any two of
them, and the accrued interest, between the first day of July,
1896, and the time of the acceptance, payment and delivery of
the said bonds shall be rebated to the purchasers thereof,
under such regulations as may be made, in the discretion of
the Governor, Comptroller of the Treasury and Treasurer
aforesaid, and upon the day mentioned in the said advertise-
ment, as the day for opening the bids for the propositions
thereby called for, they will receive such sealed propositions
for the purchase, for so many of such certificates of indebted-
ness issued under the provisions of this act, at prices not less
than the par or face value of the said certificates of indebted-
ness, and the interest accruing thereon respectively, and on the
opening of such propositions, so many of said certificates of
indebtedness as have been so bid for, the accruing interest
thereon, shall be awarded by the Governor, Comptroller of the
Treasury and the Treasurer, or a majority of them, to the
highest responsible bidder or bidders therefor for cash. And
when two or more bidders have made the same bid, and such
bid is the highest, the certificates of indebtedness so bid for
shall be awarded to the highest responsible bidders, and if the
amount so bid for by the said highest responsible bidders is in
excess of the whole amount of the certificates of indebtedness
so offered for sale, such certificates of indebtedness shall be
iwarded to such highest responsible bidders, bidding, the same
price in proportion to amount each has bid for, to the whole
qmount of said certificates of indebtedness so offered for sale,
If any of the said certificates of indebtedness so offered for
sale are not bid for, they may be subsequently disposed of,
under the direction of the Governor, Comptroller of the
Treasury and the Treasurer, or a majority of them, at private
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