WILLIAM GRASON, ESQUIRE, GOVERNOR.

1839.

CHAPTER 12.

CHAP. 12.

A supplement to the act to provide ways and means to meet
the subscriptions on the part of the Slate to works of in-
ternal improvement, passed at December session eighteen
hundred and thirty-eight, chapter three hundred and
eighty-six.

Passed Mar. 3,
1840.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the fourth section of the said original

Sec. 4 repealed.

act be and the same is hereby repealed; and the Trea-
surer of the Western Shore, be and he is hereby required
forthwith to direct the five per cent sterling bonds of the
State issued in pursuance of the said section, to the amount
of four hundred thousand dollars current money of the
United States, and now in the custody of Messrs. Baling,
Brothers and Company of London, to be cancelled and re-
turned to the Commissioner of Loans of this State.

Five per cent
bonds to be can-
celled, &c.

SEC. 2. And be it enacted, That for the payment of one
hundred and sixty thousand dollars, the balance of the
State's subscription to the stock of the Annapolis and Elk-
Ridge Rail Road Company, the Commissioner of Loans, be
and he is hereby authorized and required to issue, and sell
as early as may be for the best price to be had, not less
than par, certificates to the amount of one hundred and
sixty thousand dollars of the stock of this State, bearing in-
terest of six per cent from the first day of April next, pay-
able quarterly at the Loan office in Baltimore, and there
redeemable at the pleasure of the State after the expiration
of fifty years.

Commissioner

of loans to issue

certificates, &c.

SEC. 3. And be it enacted, That the Commissioner of
Loans be and he is hereby required to pay the proceeds
of the said stock into the Western Shore Treasury, and

Commissioner

to pay, &c.

as soon as he shall effect his sale or sales thereof; and
that the Treasurer of the Western Shore pay the same to
the amount of the said one hundred and sixty thousand
dollars, as he shall receive it, to the President and Direc-
tors of the Annapolis and Elkridge Rail Road Company
or to their order unconditionally.

Treas. W. Shore

to pay, &c.

SEC. 4. And be it enacted, That the Treasurer be and
he is hereby directed to retain out of the last payments to
be made by him to the said company, under the provisions
of this act, a sum adequate to the redemption of the post
notes issued by said company, and now in circulation, of
which an account shall be returned forthwith by the Presi-

Treasurer to re-

tain, &c.