370

LAWS OF MARYLAND.

May issue
bonds.

Sec. 6. And be it enacted, That said corpoation,
when organized, shall have power to issue bonds
to an amount not exceeding, in the whole, the sum
of one hundred thousand dollars, secured by a
mortgage or deed of trust upon the whole or upon
a specified portion of the real estate of said com-
pany, payable at such period, not exceeding five
years, from the day of the date of said bonds,
bearing interst at the rate of six per centum per
annum, payable semi-annually, with or without
coupons, as may be deemed most eligible, and di-

Proviso.

vided into sucn amounts as the Directors may
seem most convenient; provided, that none of
said bonds shall be of less amount than one hun-
dred dollars, and that all said bonds shall be
placed by said mortgage or deed of trust on equal
footing.

May establish
line of canal
boats, &c.

Sec. 7. And be it enacted, That the Directors of
the said company shall have the further power
and authority, in case they shall deem it expe-
dient for the convenient and profitable transporta-
tion of their timber and other products to mar-
kets, to establish a line of canal boats on the Ches-
apeake and Ohio Canal, and to employ or estab-
lish steamers or other vessels to transport their
timber and other products to any port or place
within the United States, and to make special
agreements with any existing railroad company
for the transportation of their timber and other
products, from any point or place, to any other
point or place; and may establish offices and agen-
cies wherever, in the opinion of said Directors,
the business of said company may render the same
expedient

Reservation.

Sec. 8 And be it enacted, That this act shall
take effect from the day of its passage; and the
Legislature reserves to itself the right to amend,
alter or repeal this act at any and all times here-
after.