T. HOLLIDAY HICKS, ESQ., GOVERNOR.

1860.

the Worcester Railroad company, and forty-nine
thousand one hundred and one dollars to such
works of internal improvement in said county as

CHAP. 303.

the Legislature may hereafter direct; and as soon
as it shall appear to the Governor, by the affidavit
of the president of any one or more of the said com-
panies, that bona fide subscriptions to the capital
stock of the said company or companies respec-
tively equal to the subscriptions on the part of the
State by this act authorized and directed, have been
actually made, the Treasurer of this State shall be
and he is hereby authorised and required, in the
name and on behalf of this State, to subscribe for
so many shares of the capital stock of said company
or companies as shall amount to the sum or sums
(as nearly as may be) which, by the first section of
this act, are applied to said company or companies
respectively, and the said Treasurer shall, out of
any unappropriated money in the treasury, pay the
instalments on each share of the capital stock of
said company or companies for which he may sub-
scribe as aforesaid, on the warrant of the Comp-
troller, which the latter officer is hereby directed
to issue, as said instalments may be called for,
agreeably to the provisions of the act or acts incorpo-
rating said company or companies, and the supple-

Authorised
to pay.

ments thereto; Provided, that the Treasurer shall
not at any time pay upon the State's subscription
to the capital stock of any of the said companies a
greater amount than shall have been actually paid
by other subscribers to the capital stock of the said
companies; and provided further, that the said
Treasurer shall not pay more than one-fourth of
the whole amount applied under this act in any
one year.

Provisos.

SEC, 2. And be it enacted, That each of the said
companies shall execute a mortgage to this State,
of its corporate property to be approved by the
Treasurer of the State, and recorded in the proper
county, to secure to the said State the payment of
interest of six per centum per annum, on the sum
subscribed by the State., to the stock of the said
company; the said interest to begin three years
after the payment of the several instalments of the
State subscription, and to be paid out of the profits
of the work semi-annually forever thereafter.

Interest: pay-
ment secured.

SEC. 3. And be it enacted, That if any portion of
the fund applied by this act, shall not be demanded

State pledged.