682 LAWS OF MARYLAND. [CH. 284

Council of Defense, by and with the sanction and approval of
the Governor, shall, from time to time, determine.

SEC. 4. And be it further enacted, That in order to provide
for the selling of the certificates of indebtedness aforesaid, or
any of them, to be issued under the provisions of this Act, the
Governor, Comptroller of the Treasury, and the Treasurer of
this State, or a majority of them, are hereby directed to adver-
tise twice a week for two successive weeks before the said cer-
tificates of indebtedness, or any part thereof, shall be issued,
in two newspapers published in the City of Baltimore, that lite
Treasurer of this State will be in readiness, at any time within
five days after the expiration of said notice, to receive bids at
such place or places as may be named in said respective adver-
tisements for certificates of indebtedness issued under the provi-
sions of this Act, under such regulations as may be made in the
discretion of the Governor, Comptroller of the Treasury and
Treasurer, or a majority of them; and the accrued interest be
tween the date of the certificates of indebtedness and the time of
sale and delivery of and payment for said certificates of in-
debtedness shall be adjusted with the purchaser thereof, under
such regulations as may be made in the discretion of the Gov-
ernor, Comptroller of the Treasury and Treasurer, or a majority
of them; and upon the day mentioned in said advertisement
as the day for opening the bids for the proposals thereby called
for they shall receive such sealed proposals for the purchase of
as many of such certificates of indebtedness as may be men-
tioned or designated in said advertisement; and on the open-
ing of such sealed proposals, as many of said certificates of in-
debtedness as have been so bid for shall be awarded by the
Governor, Comptroller of the Treasury and Treasurer, or a ma-
jority of them, to the highest responsible bidder or bidders
therefor for cash, if the prices bid are adequate, in the judg-
ment .of the Governor, Comptroller of the Treasury and the
Treasurer, or a majority of them; and when two or more bid-
ders have made the same bid, and such bid is the highest, and
the certificates so bid for by the highest responsible bidders are
in excess of /the whole amount of the certificates so offered for
sale, such certificates of indebtedness shall be awarded to such
highest responsible bidders bidding the same price in a ratable
proportion; and if any of said certificates so offered for sale
are not bid for, or if any insufficient price be bid for them,
they may be subsequently disposed of under the direction of
the Governor, Comptroller of the Treasury and Treasurer, or a