946

LAWS OF MARYLAND.

Valuation of
stock and
bonds.

SEC. 59 M. The valuation of stock and bonds fixed by gen-
eral law of the State, now in force, or that may be passed by
the General Assembly of 1894, for State, county and munici-
pal purposes, shall be accepted as the value of such stocks and
bonds for taxation under this act; but this section shall not be
construed to exempt stocks and bonds from taxation under this
act if no value shall be affixed thereto by general law.

Abatements,
transfers,
etc.

SEC. 61. The said commissioners shall have the power to
annually make abatements and transfers, and to add new
property, unassessed property and improvements to the assess-
ment lists of said town, but they shall adopt the county assess-
ment and valuation for all such new and unassessed property
and improvements which they may add to said assessment list.

Approved April 6th, 1894.

CHAPTER 613.

AN ACT to authorize the County Commissioners of Dor-
chester County to subscribe to the capital stock of the Cam-
bridge and Chesapeake Railroad Company.

To subscribe
to stock of
Cambridge
and Chesa-
peake R. R,
Company.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Dorchester
County be and they are hereby required, in the name and for
the said county, to subscribe for and hold shares of stock in
the Cambridge and Chesapeake Railroad Company, a corpo-
ration duly incorporated under sections 158 to 201 of article
23 of the Public General Laws of Maryland, to the amount of
seventy-five thousand dollars, at the par value of said shares;
and the said County Commissioners shall subscribe for said
stock as soon as one mile of the line of the Cambridge and
Chesapeake Railroad shall have been graded,

May issue
bonds.

SEC. 2. And be it enacted, That for the purpose of meet-
ing the said subscription, the said County Commissioners be
and they are hereby authorized and empowered to issue bonds
in the name of the said county, in denominations not less than
fifty dollars nor more than five hundred dollars, bearing
interest at the rate of six per centum, and payable within a
period of not more than twenty years from the date of their
issue; and to each of said bonds shall be attached coupons for
the payment of the interest thereon, payable semi-annually,