1841.

LAWS OF MARYLAND.

chap. 168.

par value, in full satisfaction of their claims against said
company.

Interest on
bonds, paya-
ble out of the
nett proceeds.

Sec. 2. And be it enacted, That the interest on the said
bonds or certificates of debt, to be issued as aforesaid, shall
be payable exclusively out of the nett profits of the said
company, and the profits which this state shall derive from
the use of the Annapolis and Elkridge Rail Road, in con-
nexion with the Washington Branch of the Baltimore and
Ohio Rail Road; and the Annapolis and Elkridge Rail
Road Company is hereby required, on the first days of
June and December in each year, to pay over to the trea-
surer of the western shore, the nett profits of said compa-
ny during the six months preceding, and also to render a

Number of
passengers, to
be returned
to treasurer
W. S.

just and true account of the number of passengers trans-
ported over the aforesaid rail road from the City of Anna-
polis to the City of Baltimore and City of Washington, and
from each of the last named cities to the city of Annapolis,
and also of the number of passengers of every description
transported over the said Annapolis and Elkridge Rail
Road; and seven-fifteenth parts of the aggregate amount

Profits of the
State 7-15th
parts

received by the Baltimore and Ohio Rail Road Company,
for the transportation of such passengers, shall be deemed
and taken to be the profit derived to the state, by the use of
said road in connexion as aforesaid.

Surplus to be
applied to the
redemption of
the bonds

Sec. 3. And be it enacted, That the said seven-fifteenth
parts, together with the money to be paid as aforesaid by
the Annapolis and Elkridge Rail Road Company, shall be
transmitted upon the said bonds or certificates of debt, and
that any surplus which may remain after payment of inter-
est as aforesaid, in any one year, shall be applicable, and
in the discretion of the treasurer, applied to the redemption
of the bonds or certificates of debt to be issued as afore-
said.

Not to impair
State's priori-
ty

Sec. 4. And be it enacted, That nothing herein contain-
ed shall be construed to defeat or impair the state's priority
in the application of the profits of said company, excepting
in so far as it may be necessary for the satisfaction of the
creditors of the company as aforesaid.

Certain
claims sub-
mitted to ar-
bitration

Sec. 5. And be it enacted, That the claims preferred by
Passmore McCullough and Adam T. Allen, against the said
Annapolis and Elk-ridge Rail Road Company, be, and the
same are hereby submitted to the abitrement of John C.
Le Grand, Esq. Secretary of State, whose award shall be
final and conclusive between the parties, and if the said ar-
bitrator shall award any thing to be due to the said Passmore
McCullough and Adam T. Allen, the amount thereof shall
be certified by said arbitrator to the said Annapolis anil
Elk-ridge Rail Road Company, who shall thereupon exe-