1837.

LAWS OF MARYLAND.

CHAP. 357.

of the proper evidence of ownership thereof, the Com-
missioner of Loans of this State shall he, and he is
hereby authorised and empowered to issue to, and in
the name of the said holder or holders, or of the trans-
feree or transferees of such holder or holders, another
certificate or certificates of debt in the common form
used at the office of the said commissioner for the prin-
cipal sum acknowledged to be due by the original cer-

Interest payable
thereon.

tificate, and to stipulate and agree that the interest to
accrue thereon shall he payable at the place mentioned
in the said original certificate, or if the said holder
will agree thereto, at the place of the Commissioner of
Loans in the city of Baltimore, and such certificates so
to be issued in pursuance of this act, shall avail the
proprietor, and be as valid in law, as if the seal of the
State were thereon impressed.

Treasurer to
deposite or ill-
vest, &c.

SEC. 3. And be it enacted, That the Treasurer for the
Western Shore be, and he is hereby authorised to de-
posite in some bank or banks of this State, on interest
of five per cent, or to invest in the stock created under
the provisions of the aforesaid act, or in some other
safe and productive fund to be selected by him. so much
of the premiums to be received upon the sale of the
aforesaid stock or any part thereof, as would otherwise
remain unproductive in the treasury, and he shall be,
and hereby is further authorised to sell out said stock
or other securities, or otherwise to change his invest-
ment of the aforesaid fund whenever it may be found
necessary to do so,in order to provide for the payment
of the interest on the aforesaid debt, or for the safety
of the fund.

Rail R. and Ca-
nal C. to pay
in coin, &c.

SEC. 4. And be it enacted, That the Treasurer of
the Western Shore shall require the Baltimore and
Susquehanna Rail Road Company, and the Chesapeake
and Ohio Canal Company to pay, on the loans made
to them by this State, the interest that will hereafter
accrue, and that which has accrued since the first day
of April, in the year eighteen hundred and thirty-
seven, either in coin or its equivalent in current bank
notes, to be determined by the Commissioner of Loans

Payments or-
dered.

by the price of coin in the city of Baltimore, on the
quarter pay specified for the payment of such interest;
And be it further enacted, That the said Treasurer