1837.

LAWS OF MARYLAND.

CHAP. 302.

CHAPTER 302.

Passed Mar. 29
1838.

A further supplement to an act, entitled, an act to pro-
vide for the completion of the Chesapeake and Ohio
Canal to Cumberland, and for the completion of the
Baltimore and Susquehanna Rail Road to the Borough
of York, in the State of Pennsylvania.

Assent requir-
ed.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That so soon as the Baltimore and Susque-
hanna Rail Road Company, in general meeting of its
stockholders, shall have approved, assented and agreed
to the provisions of this act, and shall have communica-
ted to the Treasurer of the Western Shore their ac-
ceptance of its terms, under the corporate seal of said
company, and the signatures of its president and di-

And obligation
deposited.

rectors, and shall also have prepared and deposited
with said Treasurer, an obligation, verified in like
manner, pledging the whole of the property and reve-
nues of said company for the purpose of securing to
the State, in the manner hereinafter provided, the pay-
ment of the interest and principal of the loan which

Containing

pledge.

shall be made to said company; and provided also, that
before any payment of loan, hereinafter provided for,
the Treasurer shall be satisfied that a perfect legal
surrender has been made by the city of Baltimore to

Surrender of all
liens.

the State of Maryland of all preferred liens on said
company, the said city may now hold, except so far as
hereinafter returned and provided for, in pursuance of

Whereupon
certificates of
stock may is-
sue.
$500,000.

this act, it shall be the duty of the Commissioner of
Loans of this State to issue certificates of stock or
bonds of the State of Maryland, to the amount of five
hundred thousand dollars, redeemable at any time af-
ter the year eighteen hundred and ninety, bearing in-
terest at the rate of three per centum per annum, pay-
able quarterly, on the first day of January, April,
July and October, in each year; and the said commis-
sioners shall deliver to the Treasurer of the Western
Shore one of said certificates or bonds, for the amount

$100,000 fund.

of one hundred thousand dollars, to be applied by the
Treasurer to constitute a sinking fund, as hereinafter

Sell the residue.

provided; and the commissioner shall proceed to sell
and dispose of the residue of said stock or bonds, on