WILLIAM GRASON,. ESQUIRE, GOVERNOR.

1838.

first day of January and the first day of July in each year
and that said bonds shall be divided into sums to be indi-
cated by said coin panics respectively, in regard to their
respective proportions thereof, and shall be, made paya-
ble in sterling money, in London or in current money in

CHAP. 416.

the city of Baltimore, or partly in sterling money in
London and partly in current money in the city of Bal-

timore, at the option of said companies respectively.

Or partly in either.

Sec. 3 And be it further enacted, That the State re-
serves to itself the right at any time hereafter, to convert
said loan or any portion of the same, into the stock of said
Tide Water Canal company, according to the propor-
tions of said loans which said company shall have re-
ceived, according to the provisions of this act.

Right reserved to

convert this loan

into stock of the

companies.

Sec. 4. And. be it enacted, That the said Tide Water
Canal company, within the period of four months next
after the completion of their canal, shall make and con-
struct, at or in the immediate vicinity of Bell's Ferry,
opposite to Port Deposite, an out-let lock, of the same
width and of like construction, as the out-let lock at
Havre de Grace, and shall at all times keep the same

free passage therein or thereout, at all times, for any
ark, raft, boat or other craft, which may have passed,
or be intended to pass through the said canal, and also
provide the necessary labour and attendance to work
the said lock, and to secure to the public, the full ben-

Out-let lock at
Bell's ferry requi-

red.

efit and convenience thereof, and that the said company
shall be entitled to demand and receive the same
tolls and compensation for each and every ark, raft,
boat or other craft passing in and out of said out-let
lock, opposite Port Deposite, or if such ark, raft, boat
or other craft had been let in, or out of said canal, at

Tolls thereon.

the out-let lock at Havre de Grace; provided neverthe-
less, that if the cost and expense of the construction of
said out-let lock, hereby directed to be made, shall ne-
cessarily exceed the sum of fifteen thousand dollars,
the said company shall not, be required to construct the
same, or to enter into any contract for that purpose,
until the excess above the sum of fifteen thousand dol-
lars, shall have been contributed by the citizens of
Cecil county, or others, or satisfactorily received to

Except it cost over

$15, 000.

the said company, or unless some responsible person or
persons will engage and undertake, with sufficient

Provision in that

case.