LAWS OF MARYLAND.

1144

any, ) and such further sum not exceeding five thousand
dollars annually, as may be necessary to pay the interest
on the bonds or certificates of debt heretofore issued by
said company to the creditors of the Potomac Company,
for claims adjusted under the twelfth section of the char-
ter of the Chesapeake and Ohio Canal Company; the
said company shall annually pay to the Treasurer of the
Western Shore of this State, who shall receive the same
under the responsibilities of his office, the surplus nett
revenues as aforesaid, to such amount as may be necessary
as an adequate sinking fund, not exceeding the sum of twen-
ty five thousand dollars a year, on an average of years,
dating from the first day of January next after the com-
pletion of the canal to Cumberland; which sum or sums
shall from time to time be invested by said treasurer, and
be accumulated by him as a sinking fund to pay the prin-
cipal of said bonds, until a sufficient amount is so paid
and accumulated for that purpose; and the monies that
may be paid by the said company to the said Treasurer,
and accumulated by him as aforesaid, shall be considered
as being held by the State of Maryland, as agent of the
Chesapeake and Ohio Canal Company, for the payment
of said bonds, and the same shall be applied by the said
treasurer to the payment of the same, when they become
due, without any further order or direction on the part of
this State or the said company; and the said monies shall
on no account be applied or used for any other purposes

CHAP. 281.

whatsoever; provided however, that if they deem it expe-
dient to do so, the president and directors of said com-
pany may, in case they borrow or raise money on said
bonds, discount or pay in advance one-half year's interest
on the same, and the interest for such further time as may
be necessary to make the semi-annual payments of in-
terest fall due on the days hereinbefore specified for the
payment of the same

Proviso.

SEC. 6. And be it enacted, That the president and di-
rectors of the Chesapeake and Ohio Canal Company, be
and they are hereby authorised to execute any deed, mort-
gage or other instrument of writing, that may hereafter be
deemed necessary or expedient to give the fullest effect to
the aforegoing provisions.

President and
Directors may
execute deed.

SEC. 7. And be it enacted, That the Chesapeake and
Ohio Canal Company shall execute to this State and de-
liver to the Treasurer of the Western Shore of Maryland,
a further mortgage on the said canal, its lands, tolls and
revenues, subject to the liens and pledges by the aforego-
ing provisions of this act made, created or authorised, as
an additional security for the payment of the loan made by

Company to
execute a fur-
ther mortgage.