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Session Laws, 1856
Volume 623, Page 22   View pdf image
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22

LAWS OF MARYLAND.

dends accruing to the said city of Cumberland from the
revenues or profits of the said Railroad Company, whether
dividends shall have been previously declared in favor of
the general stockholders or not, but if no previous divi-
dends shall have been declared in favor of the stock-
holders; or if declared, and the amount of such divi-
dends credited to the said city of Cumberland as stock-
holder aforesaid, shall not be sufficient to set off the
aggregate appropriations made as aforesaid by the said
Railroad Company to pay the semi-annual instalments
of interest accruing upon said bonds, the said Railroad
Company may retain for its own use in addition to the
dividends previously credited, if any, the subsequently
accruing dividends to which the said city of Cumber-
land may be entitled as stockholder until such dividends
shall exceed in amount the semi-annual instalments of
interest previously paid by the said Railroad Company ;
when, after balancing its payments for interest out of said
dividends the surplus shall be paid by the said Railroad
Company to the said city of Cumberland, and the like
disposition of all such dividends shall continue to be
made from time to time until the maturity of said bonds
unless the said city of Cumberland shall prefer to receive
the whole dividends and to dispense with the further
agency of the said Railroad Company in making the
interest payments upon said bonds. And upon the fur-
ther condition, that the railway designed by the said
Railroad Company beginning at Pittsburg and termina-
ting at Cumberland (to further the completion of which
to Cumberland was the main object of the Maryland act
incorporating said Railroad Company) shall have its
Eastern or Maryland terminus within the existing cor-
porate limits of the said city of Cumberland, and that in
connection with, and as a part of such terminus the said
Railroad Company shall establish its depots, offices, en-
gine houses, machine or workshops, warehouses and
platforms for the transhipment of freight and all other
building and fixtures appertaining thereto for the accom-
modation of its business, within the existing corporate
limits of the said city of Cumberland, and that such ter-
minus with its aforesaid appurtenances, excepting the
passenger depot which may be located and established
at such place as the said Railroad Company may prefer,
shall be exclusively established upon land subject to the
imposition of taxes by the said city of Cumberland. And
upon the further condition, that unless means be obtain-
ed from other sources by the said Railroad Company
sufficient to complete its railway as designed within the



 
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Session Laws, 1856
Volume 623, Page 22   View pdf image
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