PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1847.

and its payment postponed in the manner hereafter stated;
provided, that said rail road or rail roads to the Cumber-
land Valley rail road or to Middletown shall be com-
pleted on or before the first day of March in the year
eighteen hundred and fifty-one.

CHAP. 196.

Proviso.

SEC. 2. And be it enacted, That as soon as the fact
is certified and shown to the satisfaction of the Treasurer
of the Western Shore of Maryland that the rail road or
rail roads mentioned in the first section of this act is or
are completed as therein mentioned, stocked and ready
for use in the transportation of passengers and freight,
he, the said treasurer, shall be authorised and required
to take from the Baltimore and Susquehanna rail road
company bonds for the amount of interest then due to
the State upon loans made to the said company under
the acts of Assembly passed at December session eigh-
teen hundred and thirty-four, chapter two hundred and
forty-one, at December session eighteen hundred and
thirty-seven, chapter three hundred and two, at Decem-
ber session eighteen hundred and thirty-eight, chapter
three hundred and ninety-five, and at December session
eighteen hundred and thirty-nine, chapter twenty, the

Treasurer to
take bonds for
interest when
satisfied that
the connection
will be formed
in the manner
provided for.

bonds so to be issued to the said treasurer to be without
interest and payable in fifteen years from their date, and
upon receipt of the same, he, the said treasurer, shall
immediately execute a release to the said company of
the right of the said State to make any demand upon the
said company for the said arrears of interest so funded
for the said period of fifteen years.

Bonds to be
without inte-
rest, and paya-
ble in fifteen
years.

SEC. 3. And be it enacted, That until the fact of the
completion of the aforesaid rail load or rail roads men-
tioned in the first section of this act, is certified to the
treasurer as aforesaid, all the revenues and receipts of the
said Baltimore and Susquehanna rail road company,
after paying the ordinary expenses of managing, stock-
ing and repairing its road, shall be paid to the said trea-
surer on account of the interest due to the State of
Maryland on her loans to the said company, and after
the passing of the bonds and release mentioned in the
second section of this act the revenue and receipts of
said company, after paying the ordinary expenses as

Revenues to-
be paid to the
State until the
connection is
formed.

aforesaid, shall be be applied as follows, the said net re-
ceipts shall first be paid in each and every year to the
Treasurer of Maryland to the amount of six per centum
upon the loans made to the said company under the acts
of Assembly mentioned in the second section of this
act, the residue, if any, to the payment of a dividend not
exceeding six per centum to the stockholders of said com-

Six per cent.
of net receipts
into State trea-
sury, residue
to be divided
among stock-
holders to ex-
tent of 6 pr. ct.