Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1914-03-19

In this issue we publish the rail
road bill recently introduced by
representatives from the three
Southern Maryland counties tapped
by the Washington, Chesapeake and
Potomac Railroad, and commend
its careful perusal to our readers.
The duty of our people, it seems
10 us, is Enthusiastically clear; tc
give to our representatives in the
Legislature and the promoters theiI
endorsement. All proper guards
and precautions appear to have been
taken against probable abuse and
unless the road is built we are no
TO subscribe for the stocks and bonds.
our people should favor and take ne
backward steps in this matter. We
earnestly believe that the railroad
through our county has at last
touched favorable current and
with the progressive sons of St.
Mary's working for the good and
upbuilding Of d eir home county we
will soon be BID ssed with better and
quicker trs ortssion facilities. Z
No c viii object % sroad IN
nlng@the entire length q our comfy
3Md but few will object to the bond
issue. if they are assured Of the
road, and as the bonding Of the
/, county is not to be until the line i
completed and put into operation,
there can be absolutely no objection
70 the passage Of the bills before
the Maryland Legislature.
During the recent cold snap we
were unable TO make shipments q
Washington. and Baltimore war
"a the@sy 81 an oyster famine, and
4
4sz.s. toad bsan completed i
that timex both the Metropolis Of
the south and our National Capitol
would have been grateful ana thank
full for supplies we would have been
in position TO send them, and our
people would have reaped the fnan-
cial benefits
We should, therefore, let our rep
resentatiyes know our feelings and
wishes in the matter. and assure
them that ttsir COURSE in pushing
nc ILLS 4 a final passage has our
orsement.
follows.
tiled an act 10 authorize,
and direct the County Conn
5ners Of st. Mary's County TO
tribe 70 the preferred capitol
< or the income bonds 81 the
arlington, Chesapeake and Po-
lsc Railroad Company, and 70
sne bonds TO provide for the pay
mt Of the same.
setion 1. Be II enacted by the
General Assembly Of Maryland, That
the County Commissioners OF st.
Mary's county be and they are hereby
authorized and directed in the name of
and for the said st. Mary's County, to
subscribe for and hold either or both,
and in such proportions rs they may
deem best and az the par value thereof,
income bonds or the preferred capital
stock OF the Washington, Chesapeake
and Potomac Railroad Company a
body corporate, duly incorporated
under the laws of the State OF MARY
land, or Its successors or assigns, TO
the amount OF One hundred and fifty
Thousand dollars (Sl50,O00(.
Sec. 2. And be IL enacted for the
purpose Of meeting the said subscrip-
tion to the said stock Of the said in
come bonds OF the said Washington,
Chesapeake and Potomac Railroad
Company, Its successors or assigns,
as heretofore provided, the said County
Commissioners of ST. Maryis County
be and they are hereby authorized ana
empowered to issue bonds In the name
OF said county, of denominations oil
not less than Fifty Dollars 1850 nor
more than One thousand dollars
y fS1, 000], bearing interest at the rate
OF 1--we percent. l5l per annuln, payable
at q period OF not more than fifty 1907
years from the date OF their Issue, and
to each of the bonds shall be attached
coupons for the payment Of interest
thereon, payable semi-annually which
said coupons shall be received
ia payment Of any county taxes by
the County Commissioners Of said
county
Sec. 3. And be IL enacted, That the
said bonds shall be exempt from state,
county and municipal taxation, and
the faith and credit of st. Mary's
County Is hereby pledged for the pay
ment of the said interest and the re.
demption Of the said bonds at matu,
rity.
Sec. 4. And be II enacted That the
County Commissioners of said county
shall levy from time to time on the
assessible property OF the said com
pany such sum or sums OF money as
shallin their discression be proper anc
necessary for the prompt payment Of
the interest OF said bonds and the
principal, when due
Sec. 5. And be 1t enacted, That all
sums levied on account Of the prinei.
pal 81 said bonds shall be collected BY
The County Treasurer OF st. Mary s
County, or any other officer or officers
who shall be authorized by law to col,
lect State taxes Ia said county, or i
there shall be ~ Gny time no State
saxes levied by law, than la that case
BY said County Treasurer, collector