The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1872-05-18
LAW s c. N ERAL
YAssEn By
The GelGIalIASSsnhlY Of Maryland,
Al de January Session, 1872.
j 4 4 rusIlsaED BIZ AUTHORITY.
CnArrER $50.

yet due, by selling the State stocks
aud bonds hereinafter mentioned.
WHEREAS, II is to the interest Of the
State to sell her six per cent. Balii-
more City Stock, standing to the
credit at the Sinking Fund, and
amounting TO one hundred and City.
four thousand ave hundred and ifty
dollars; provided, the same can be
sold at not less than ninety.six cents
in thsldoAar; and her stock in the
Farmers National Bank of Annapo.
lis, amounting to forty.six thousand
four hundred and seventy dollars /;
provided, the same can be sold at par |;
and her stock in the Chesapeake and
Delaware Canal Company, amounting
TO eighty one thousand two hundred
aud flty dallars and ths bonds of
the Susquehanpa and Tide Water
Canal Company; provided, this stock
and these bonds eau be sold at not
less than their par value, and subject
70 the provisions Of the Constitution !;
aud,
WuEREAs, Il is the interest of the
State to pay of the balance of her
sterling debt, amounting 10 seven
hundred and twenty four thousand
dollars, consisting Of bonds issued for
ssthee benefit Of the susauehanna aud
Tide Water Canal Company, under
the provisions Of chapter 1856 of the
Acts Of 1898. and past due since
.pls65 ;spud also tolpay off balance of
her currency debt, amounting to two
hundred and sixteen thousand eight
hundred aud seventeen dollars and
thiry.seven cents, consisting Of bonds
issued for the benefit Of the Cbesa
sipsake aud Ohm Canal Company, aud
past due since 1870 therefore,
Sec. /. BE 1t enacted BY tho General
Assemblyof Maryland, That the Comp.
troller be, aud Is hereby directed to give
notice, of not less than thirty DAYS, to
the holders of the State bends due or
past due, that on day named in said
notice, interest'on said bonds will cease,
and that they must DO presented for
payment at the place where they are
made payable.
Sec. 2. And be it enacted, That the
Comptroller is hereby directed to paw
SAID bonds out of any uuappropriated
moneys 10 the Treasury; provided, the
same can be spared from it's ordisary
requirements, but should the condition
OF the Treasury not admit of such an
Pieatlop OF Its means, be is hereby
autboplzedSand directed 10 sell the
States six per cent. Baltimore CITY
stock standing to the credit Of the Sink.
Ing hapd and amounting to one hundred
aud hhy-four thousand Eve hundred
aud ATTY dollars; provided, the same
can be sold at not less than uinety.six
cents 10 the dollar and the State stock
Farmers National Bank OF Annapolis,
atieuptiag 10 forty six thousand four
hundred aud seventy dollars, provided,
the same can DO sold at no. less than
par, and apply the means thus raised to
the payment of these past due bonds
Sec, 8, And be it enacted, That when
paid, these bonds shall be recorded BIZ
the Treasurer, aud burned by him iu
the presence Of the Governor and Comm
troller, OF which facthe shall also mako
record.
Sec. 4. And be i. enacted. That the
Comptroller of the Treasury, be. and
he Is hereby directed to give notice, of
not less than sixty days, 10 the holders
OF the States FIVE per cent. sterling
bonds, which viii mature in 1890: that
on day named he will e.ichauge Mary.
iana sixiper cent. currency bonds. for
the states i've per cent. sterling bonds.
aloresaidsat the rate of four dollars and
eighty iopr cents per pound sterling or
that'he viii pay the par value for all
such sterling, bonds as shall be presented
for payment, as aforesaid.
Sec, 5. And be it enacted. That the
Governor, Comptroller and Treasurer
constituting the Board Of Public Works
and acting as such, are hereby author.
ized and dIrected to effect sale of the
State stock in the Chesapeake and Del
aware Canal Company, amounting to
eighty Que thousand two hundred and
fifty dollars; aud Of the bonds of the
Susquehauna aud Tide Water Canal
Company, held BY the State, amounting
TO one million Of dollarsj provided, the
said stock and bonds can be sold at par
sale to be subject to the provisions ofthe
Constellation.
Sec 0, And be it enacted, That the
Board Of Public Works shall report the
sale Of said stock and said bonds or
either Of them, if any sale be effected
to the Legislature at its next session
for its ratification or rejection or 10
the event of a sale not being effected.
they shall report to the Legislature for
their information, any offer they may
have received, and their opinion as to
the advantages Of accepting such offer,
and also as to the probability of effect.
ing asale, and at what price. 9
seell7 And be it enacted That
this Act shall take effect from the date
of its passage.
We hereby certify that the aforegoing
i a true and perfect copy of an Act
passed the General Assembly OF
Maryland, at the January Session,
1879.
AUGUSTUS GASSAWAY,
Secretary OF the Senate
MILTON Y. KIDD,
Chief Clerk House of Delegates.
ARprOpSd april Isl, 1872.
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