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CHAP, 323.
Limit of pay-
ment.
Sum due to be
ascertained by
commissioners.
To be paid in
certificates of
debt, at par.
Bearing inter-
est of 5 per ct.
Redeemable.
Proviso.
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upon a transfer thereof by them to the State, of all the
stock held by private stockholders; provided, nothing
herein contained shall be construed to authorise the pay-
ment of any stock, the payments of which have been made
by a credit upon contracts for work to be done, or for cars
or materials or property to be furnished thereafter; and
provided, the whole amount to be paid shall not exceed
thirteen thousand dollars; the sum due to said stockhold-
a ers respectively, to be ascertained by the commissioners
to be appointed under this act, and certified by them to
the treasurer of the Western Shore, who is hereby direct-
ed to pay the same in certificates of debt of the State at
the par value thereof, to be issued by the commissioner of
of loans to the amount required for this purpose by the
said treasurer, which certificates shall bear an interest of
five per centum per annum, payable semi-annually at the
loan office in the city of Baltimore, and to be redeemable
in fifty years from the date thereof, and to be issued in de-
thousand dollars each; provided also, that nothing herein
contained shall be construed to authorise the payment by
the treasurer aforesaid, of any amount on any stock which
has been forfeited, or upon which all of the instalments
have not been paid according to the requisitions of the
Eastern Shore rail road company.
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Governor to ap-
point five com-
missioners.
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SEC. 2. And be it enacted, That upon the acceptance
of this act by the stockholders of the said company in ge-
neral stockholder meeting, and upon a transfer to the
State of a majority of the stock held by private stockhold-
ers, and upon a certified copy of such acceptance being
laid before the governor by the commissioners or agents
authorised to vote the State's stock in said meeting, un-
der their hands and seals, he is hereby authorised and re-
quested to appoint five discreet and sensible persons as
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Their duties.
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commissioners to examine into and adjust all claims exist-
ing against said company, and to annul, cancel and des-
troy all or any contract or contracts made or entered into
by the said company, on such terms as may be practica-
ble and expedient, and most conducive to the interest of
the State; and that after giving such notice of the time
and place of meeting as they may deem expedient, the
said commissioners being sworn faithfully and impartially
and honestly to discharge the duties imposed upon them
by this act, shall proceed with all convenient despatch to
examine into, adjust and determine all claims against the
said company, which may be laid before them, and their
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