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CHAP. 132.
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of the said company, on the obligations known as those
of the Tide Water Canal Company, in shares of fifty
dollars each, and to pay the same at par, in discharge of
the said arrear interest, and when in the settlement with
any creditor for arrear interest, a fractional part of fifty
dollars, is left, to grant to such creditor a certificate of
indebtedness for such fractional sum, any number of
which certificates amounting in the whole to fifty dollars,
or mote, may be again convertible into stock as an origi-
nal indebtedness for arrear interest.
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Notice to be
given.
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SEC. 2. And be it enacted, That after two-thirds in
value, of the said creditors, to whom arrear interest may
be due, shall have assented to the provisions of
this act, the said company shall give notice of the fact,
to the trustees named in the deed of trust, of the twenty-
third of December, eighteen hundred and forty-one, or
the survivors of them, and shall furnish to the said
trustees, a list of the names of the creditors of the com-
pany, who shall have assented as aforesaid, with the
amounts respectively held by them, of claims upon the
said company, and the said trustees having ascertained
that the provisions of this act have been complied with
in the premises, then it shall be their duty, and they are
hereby enjoined and required, to reconvey and deliver
over to the president and managers of the said company,
all and singular, the property and estate of the said com-
pany, held by and vested in them by virtue of the said
deed of trust, and the said trustees upon such convey-
ance, and delivery and acceptance by the company as
aforesaid, shall be discharged from the said trust, and
from all liability in virtue thereof, and may plead this
act, and give it in evidence in any court of record, in,
discharge of any suit or proceedings, prosecuted upon
such claim at law or equity, in virtue of said trust in
bar thereof, and the said president and managers of the
said company, for the time being, after delivery as
aforesaid, shall be held and taken to be trustees, under
the said deed of the twenty-third of December, eigh-
teen hundred and forty-one, as to non-assenting credi-
tors, as to whom the said deed shall be as operative as
if the said property and rights still remained in the
hands of the trustees under the said deed, and the said
president and managers shall administer the same, as
regards such non-assenting creditors, according to the
terms thereof.
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Persons con-
senting to ar-
rangement, to
be justified by
the courts.
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SEC. 3. And be it enacted, That all persons holding
claims against the said company, in any fiduciary capa-
city, shall by all the courts of this Commonwealth, be
fully justified by this act, in consenting to the arrange-
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