Montgomery County sentinel., 1890-10-10

| luuBudSG tut ueCiSlou vi tA6 court rs BlVcLl
above. The trustees for the bondhoders of
| 1874 are required to shave put in good re.
| pair and condition the entire canal from one
terminus thereof to the other, so that it be
| fit for and capable of safe transportation
thereon" and upon so restoring said canal
to a state of good repair and condition the
said trustees shall proceed to operate the
same as a public waterway, with all the
rights and subject to all the conditions and
limitations granted and prescribed by the
charter OF the said company; and the trus-
tee shall keep said canal in good repair and
condition and continue to operate the same,
save and except when such operation may
be suspended by the action OF causes against
the effect of which prudence and due care
in management will not provide. And the
tolls and revenues received or derived from
the use and operations Of said canal as a
public waterway and from the property and
rights of the canal company shall be applied
by the said trustees as follows;
"First. TO pay all current and ordinary
expenses incurred in operating the said
canal and for keeping the same in good
working repair.
Second To pay and reimburse the said
trustees the amount of money brought in
by them with which to pay the expenses
incurred by the receivers and their compen-
sation, with interest thereon.
"Third. To pay and reimburse to said
trustees the amount expended by them in
restoring the said canal to good working
order from its present waste and broken
condition, with interest thereon
Fourth. To pay and reimburse said trus-
tees any amount that they may be required
to pay, as constituting superior lien on the
tolls and revenues of said canal company to
that of the bonds issued under said act of
oh F,rl lnI, ,I anil fttrt, ,iot,
ed to the said canal company, while said
canal was operated and controlled by said
company, with interest on the amount so
paid.
"Fifth. TO pay the interest that has ac-
crued and may accrue due on the bonds Is
sued under the act of 1878, ch. 59, and then
the principal OF said bonds
"And sixth, to pay the interest that has
accrued, and that may accrue, due on the
bonds issued under the act of 1884, CHI. 1856,
and then the principal OF said bonds
"And upon the full payment of these last.
mentioned bonds, the possession and control
of said trustees shall cease and terminate"
CANAL OFFICE AT nAaERsTowN.
The court also DEGREES "rhat the said trus.
tees shall open an office in Hagerstown to
be known as the canal office, where all
books, maps and papers relating to said canal
preserved and which said Office shall be
open and accessible to all persons having
dealings and transactions with the said trus-
tees, their agents and managers; and the
said trustees shall keep or cause to be kept
regular and proper books of account, show
ing fully and accurately all receipts and ex-
penditures and disbursements, and shall, at
the end OF each boating or transportation
season, make full and accurate reports to
the court, under oath, Of all receipts and
expenditures, and of the real condition of
the canal, and the entire amount Of tonnage
thereon during the preceding year. And
said office and all books and accounts
therein shall be open and accessible to the
auditor of this court whenever he may
be required to examine and state accounts
of and concerning the affairs OF said trus-
tees and their accountability under this de-
cree.
FOUR YEARS TRIAL Az A WATERWAY.
In another clause the decree provides
"that if at the end Of four yours from the
first day of May next there shall not have
been tolls and revenues derived from the
said canal, and the property and rights ap-
purtenent thereto over and above the amount
necessary to pay current operative expenses
and to keep the canal in repair, to iquidate
and discharge the amount Of the cost OF re-
pairing and restoring the canal TO work
ing condition, from its present broken con
dition, and the amount Of money required
to pay expenses and compensation to the
receivers, and to pay any amount that may
be determined to be u preferred lien on such
tolls and revenues for labor and supplies TO
the canal company, such failure in the tolls
and revenues shall be regarded as evidence
conclusive, unless the ii me be extended by
the court for good and sufficient cause
shown, that the said canal cannot be oper-
ated SO as to produce reve nues with which
TO pay the bonded indebted ness of the said
canal company; gad furthar, whenever 1t
shall clearly appear that the said canal can
not be operated by the said trustees so as to
produce revenue with which to pay the
bonded Indebtedness of said company, the
right and power is hereby reserved to this
court to order and direct the execution of
the foregoing decree of SALE"