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Session Laws, 1854
Volume 616, Page 355   View pdf image
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350

LAWS OF MARYLAND.

company as is hereinabove provided, to retain in the
new mortgage the same priority of lien which the State
now holds on that part of the road heretofore mort-
gaged as aforesaid, and also to obtain the additional se-
curity of the mortgage by the consolidated company
of its interest in all the remaining portion of the road

Provisoes.

between Baltimore and Sunbury; Provided, however,
that the said mortgage of the said consolidated com-
pany shall be of full force and effect in law in favor of
the State of Maryland, notwithstanding any defect in
the execution, acknowledgment or recording thereof;
And provided further, that before the conveyance
and release aforesaid shall be executed by the Treasu-
rer of tin's State, the assent of all subsequent lien cre-
ditors of said Baltimore and Susquehanna Rail Road
Company shall be obtained in writing to the provisions
of this act, and shall be filed with the said Treasurer.

Transfer of
interest.

SEC. 4. And be it enacted, That the mayor and
city council of Baltimore are hereby authorised and
empowered to transfer all the interest of the said mayor
and city council of Baltimore whether in the form of
bond, mortgage, stock or other interest in the Balti-
more and Susquehanna Rail Road company to the
York and Cumberland Rail Road company, whenever
the said York and Cumberland Rail Road company duly
authorised thereto, shall have under the corporate seal of
the said company assented to and accepted the provi-
sions of an act entitled, an act to authorise the consoli-
dation of the Baltimore and Susquehanna Rail Road
company, with the York and Maryland Line Rail
Road company, the York and Cumberland Rail Road
company, and the Susquehanna Rail Road company,
by the name of the Northern Central Rail Way com-
pany, it being expressly understood that the said trans-
fer is upon the sole condition that the said Baltimore
and Susquehanna Rail Road company, and the several
Companies herein mentioned, shall fully agree upon
the consolidation of the said companies aforesaid, upon
terms to be by them agreed upon, otherwise to be of
no force and effect; and the said mayor and city coun-
cil of Baltimore are further authorised and empowered
to make any subscription they may think expedient or
proper to the stock of said consolidated company not
exceeding the amount of five hundred thousand dol-
lars, or to make any loan to that amount to said com-
pany, and to issue the bonds of the corporation there-
for, with interest payable at any time after the year
eighteen hundred and eighty, and to deliver said bonds



 
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Session Laws, 1854
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