ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

the said commissioners shall not, in subscribing
and taking stock in any turnpike company, as
aforesaid, exceed in such subscription an
amount equivalent to the capitalization of the
annual expenditure in appropriation made by
said commissioners upon the public road over
which said turnpike is to be constructed, said
capitalization to be computed upon a basis of
five per cent.
SEC. 2. And be it enacted, That at any time
that the said county commissioners shall make

563

a subscription to the stock of any turnpike com-
pany in pursuance of the terms of the foregoing
section, the said commissioners are hereby em-
powered to pay the said subscription out of any
money in the county treasury unexpended or
otherwise unappropriated; and the said commis-
sioners may issue bonds bearing interest, paya-
ble semi-annually, at a rate not exceeding four
per cent., in such denominations and payable at
such times as they may determine, to the
amount of said subscription.

Issue bonds.

SEC. 3. And be it enacted, That this act shall
take effect from and after June the first,
eighteen hundred and eighty-eight.

Approved April 4, 1888.

Chapter 331.

AN ACT to incorporate the Industrial Educa-
tional Association of Baltimore city.
SECTION 1. Be it enacted by the General Assem-

Effective.

bly of Maryland, That Richard Grady, William
Alien, Otto Fuchs, Joseph M. Gushing, Frederick
D. Morrison, J. Morrison Harris, R. H. Gold-
smith, Charles J. Baker, John T. Morris, H. J.
Rowe, J. Carey Thomas, G. E. Richmond, M. T.
Steuart, Levin Weinberger, M. B. Kempster and
N. H. Hutton, and their, successors, be and they
are hereby created a body corporate under the
name of the " Industrial Education Association
of Baltimore City," and by that name shall have

Incorporated.