MORTGAGE DEED
— F KO M —
Hie Baltimore anil Ohio Railroad Co.
— TO —
JOHN W. GARRETT,
JOHNS HOPKINS and
JAMES TINKER,
Trustees.
Dated March 1st, 187Q.
ID
\JJL
T) lr)der)fui?e, Made the first day of
March, eighteen hundred and seventy between the Bal¬
timore and Ohio Railroad Company, party of the first
part, and John W. Garrett and Johns Hopkins, of Bal¬
timore, and James Tinker, of New York, parties of the
second part.
Whereas, By the original act of the Legislature of
the State of Maryland, incorporating the said the Bal¬
timore and Ohio Railroad Company, passed at the
December session of the year eighteen hundred and
twenty-six, being chapter one hundred and twenty-
three of the laws of that session, the said Company was
vested with all the rights and powers necessary to the
construction and repair of a Railroad from the City of
Baltimore to some suitable point on the Ohio River,
with as many sets of tracks as the President and Direc¬
tors of said Company might deem necessary, and to
make and construct all works whatsoever which might
be necessary and expedient in order to the proper com¬
pletion of said Road, and likewise to make, or cause
to be made, lateral Railroads in any direction whatso¬
ever, in connection with the said Railroad from the
City of Baltimore to the Ohio River, and by the said
act it is provided that the President and Directors of
said Company, or a majority of them, shall have power
to borrow money for the objects of the said act, to issue
Certificates or other evidence of such loans, and to
2
pledge the property of the Company for the payment
of the same and its interest.
And Whereas, By another and supp]ementary act
of the Legislature of said State of Maryland, passed
March sixth, eighteen hundred and forty-six, being
chapter three hundred and thirteen of, the laws of the
session of eighteen hundred and forty-five, it is provi¬
ded that in exercising the above in part recited author¬
ity to borrow money, the said President and Directors,
or a majority of them, shall be and are thereby author¬
ized to make and execute Bonds or Certificates of in¬
debtedness under the seal of said Company, for such
sum or sums, and payable at such time or times, and
to sell and dispose of the same on such terms as to
the said President and Directors may seem proper.
And Whereas, By act of the Legislature of the
State of Maryland, passed March fifteenth, eighteen
hundred and twenty-eight, being chapter two hundred
and nine of the laws of the session of eighteen hun¬
dred and twenty-seven, it was declared that the said
Company should be and was authorized to extend its
said Railroad within the limits of the City of Baltimore.
And Whereas, Subsequently to the incorporation
of the said the Baltimore and Ohio Railroad Company,
the said Company was, by legislative acts of the State
of Virginia, as such State then existed before the set¬
ting off of West Virginia, duly authorized to construct
and complete its said Railroad through so much of the
territory of said State as was crossed by the line of said
Road, so as to extend its said Railroad to the City of
Wheeling, on the Ohio River.
s
And Whereas, In pursuance of authorizations to
that effect, duly granted b.y the States of Maryland and
Virginia respectively, the said Company has construct¬
ed, and now has in use and operation, a Railroad ex¬
tending from a point within the City of Baltimore to a
point within the City of Wheeling, in the now State of
West Virginia, with the appurtenances and equipment
thereof.
And Whereas, In order to perfect, improve and
complete its said line of Railroad between Baltimore
and Wheeling, with the appurtenances and equipment
thereof, and to provide the necessary means for the due
working and operation of the same, and for the other
objects and purposes of its charter, or act of incorpora¬
tion, the said Company has need to borrow or obtain on
loan the sum of money proposed to be obtained by the
issue, sale and disposition of its Bonds, for eight hun¬
dred thousand pounds sterling hereinafter mentioned.
And Whereas, The President and Directors of the
said Company, at a meeting duly held on the ninth
day of February last, at the office of the said Company,
adopted by a majority of the votes of the said Presi¬
dent and Directors, and with the unanimous concur¬
rence of all of them who were present at said meeting,
certain resolutions in the words following, viz :
Resolved, That in order to obtain upon loan the
amount of money required by this Company for the per¬
fection, completion and improvement of its line of Rail¬
road between Baltimore and Wheeling, with the ap¬
purtenances and equipment thereof, and for the other
objects and purposes of its incorporation, this Com-
4
pany do issue its sterling Bonds to the amount of eight
hundred thousand pounds, sterling money of Great
Britain, in sums of two hundred pounds sterling each,
dated March first, eighteen hundred and seventy, and
payable twenty-five years after date thereof, at the
office of Baring Brothers & Co., in the City of Lon¬
don, with interest thereon in the meantime, at the rate
of six per cent, per annum, payable semi-annually on
the first days of March and September, at said office
of Baring Brothers & Co., upon presentation and sur¬
render of the coupons for such interest, which shall be
annexed to such Bonds, and that the Railroad of this
Company from Baltimore to Wheeling, shall be and is
pledged for the payment of the principal and interest
of the said Bonds so to be issued.
Resolved, That in order to provide a Sinking Fund for
the redemption of the said Bonds for eight hundred thou¬
sand pounds, there shall be appropriated and furnished
by this Company, and by it remitted to Baring Brothers
& Co., at London, so as to be received by said Baring
Brothers & Co. on or before the first day of March, in
each and every year, (the first of which remittances shall
be made so as to be received in London by the first day of
March, eighteen hundred and seventy-one), the sum of
two per cent. On the whole amount of said Bonds ; that
is to say, the sum of sixteen thousand pounds sterling ;
provided, however, that if at the time of such remit¬
tance the whole amount of said Bonds shall not have
been sold, the said Company shall be bound so to remit
at that time for the Sinking Fund only two per cent,
upon the amount of such of the Bonds as shall have
been sold, but when any such unsold Bonds shall be
s
subsequently sold, such withheld amount thereon shall
be made up by the Company, by including in its next
periodical remittance for the Sinking Fund, such arrears
at the rate of two per cent, per annum, upon the amount
of such Bonds so subsequently sold. Which «several
sums, from time to time remitted to Baring Brothers
& Co. for the Sinking Fund, together with the interest
from time to time accruing upon the Bonds belonging
to, or other investments of, said Sinking Fund shall,
in the month of March in each year, be applied by
Baring Brothers & Co. to purchasing from the holders
thereof, at the current market rate or the lowest prices
at which the same can be obtained, provided always
that the same shall not be purchased at a higher rate
than par, such amount of the said Bonds of this
issue as such money shall be adequate for ; and all
Bonds so purchased shall be immediately so stamped,
or otherwise marked, as to show the same to belong,
irrevocably to the said Sinking Fund, and to be incap¬
able of being thereafter re-issued, sold, or in anywise
transferred or negotiated, and shall be forwarded to
the Treasurer of the Baltimore and Ohio Railroad
Company, in Baltimore, but the interest on the amount
thereof shall nevertheless continue to be paid by the
Company to Baring Brothers & Co. as Trustees of
the Sinking Fund, to be applied by them as above
provided, nor shall the absorption of said Bonds into
the Sinking Fund diminish or impair the obligation
of the Company to continue the payment of the full
annual sum of sixteen thousand pounds above pro¬
vided for, until all of the said Bonds shall have been
redeemed and discharged. Provided, however, that
if at any time a sufficient amount of the said Bonds
6
cannot be purchased within the above prescribed limits
of price, and there shall consequently be moneys
of the said Sinking Fund lying unemployed, Baring
Brothers & Co. shall, if so directed by the said Com¬
pany, Invest, and from time to time re-invest such
unemployed moneys in United States Stocks, or in
such other securities as the said Company shall, with
the approval of Baring Brothers &<Co., direct, includ¬
ing purchase of Bonds of this issue at the current mar¬
ket price, although higher than the above prescribed
limit, if so directed by said Company, and any such
investments and re-investments shall be for account of
the Sinking Fund, and the interest thence arising be
applied in augmentation of the amount of annual re-
» s.
demptions as aforesaid; and Baring Brothers & Co.
may at any time, with the assent of the said Company,
call in and change any investments belonging to said
Sinking Fund other than Bonds of this issue, and if
bonds of this issue be so purchased at the market price,
though higher than the first mentioned limit, they shall
be thereafter dealt with as they would have been if
purchased within the limit^of price first prescribed;
and if portions of the Sinking Fund shall be invested
in other securities, by reason of inability to procure at
the time' bonds of this issue, the investment thereof
may be changed to such bonds, when the same can be
procured within limits authorized by the said Com¬
pany.'
s
Resolved, That the form of the Bond, and coupon,
so to be issued shall be as follows :
7
(Form of Bond.)
UNITED STATES OF AMERICA.
No. State of Makylajstd. £200 St'g.
This is to oertify, That the Baltimore and Ohio Rail¬
road Company is indebted to the bearer in the sum of
two hundred pounds, sterling money of Great Britain,
which it promises to pay on the first day of March,
eighteen hundred and ninety-live, at the office of Bar¬
ing Brothers & Co., in the City of London, on the sur¬
render of this bond, with interest thereon in the mean¬
time at the rate of six per cent, per annum, payable
at the same place, on the first days of March and
September in each year, on the presentation and
surrender of the annexed coupons therefor. And the
said Company also agrees to bear and pay all taxes
which may be imposed upon such interest under either
State or United States authority. This bond forms part
of an issue of bonds to the aggregate amount of eight
hundred thousand pounds sterling, numbered from one
onward consecutively; and in conformity with the au¬
thority vested in said Company by its charter, and sub¬
sequent legislative acts of the State of Maryland, the
railroad of the Baltimore and Ohio Railroad Company
from Baltimore to Wheeling, being 379 miles long, with
its appurtenances and equipments, is hereby ^pledged for
the payment of this bond, and the interest, pro rata with
the other bonds of the same issue., And in execution of
such pledge the said Company has executed a mortgage,
duly stamped with the stamp required by law, j for the
total amount aforesaid of eight hundred thousand
8
pounds sterling, to John W. Garrett and Johns Hop-
kins, of Baltimore, and James Tinker, of New York, as
Trustees of said road from Baltimore to Wheeling, with
its appurtenances and equipment, which has been re¬
corded in the several counties through which the road
passes. The payment of the bonds of this issue is fur¬
ther secured by a Sinking Fund of two per cent, annually
on the whole issue, which, with the interest accruing
from accumulations of the Sinking Fund, is to be applied
by Baring Brothers & Co., in March of each year, to
buying in bonds of this issue at the market price, if
to be had at not exceeding par, and if not to be so had,
to be invested in other securities for account of said
Sinking Fund.
In testimony whereof, The said Company hath
hereunto affixed its Corporate Seal, and caused the
same to be attested by the signature of its President,
on the first day of March, eighteen hundred and seventy.
{Form of Coupon.)
The Baltimore and Ohio Railroad Company will pay
to bearer, on March (or September) 1st, 18 , at the
office of Baring Brothers & Co., in the City of London,
six pounds sterling, being half year's interest on Bond
No. for £200 St'g.
£6. Treasurer.
And each of which Bonds shall have endorsed thereon
the certificate of the Trustees to the effect that it is one
of those secured by the said mortgage.
9
Resolved,, That in order to secure the payment of
said bonds for eight hundred thousand pounds, with
the interest thereon, and the fulfillment of the obliga¬
tions of the Company in relation to the Sinking Fund
above mentioned, this Company do execute a mortgage
in trust to John W. Garrett and Johns Hopkins, of
Baltimore, and James Tinker of New York, as Trus¬
tees, upon the railroad of this Company, from its com¬
mencement in the City of Baltimore to its terminus in
the City of Wheeling, with all its appurtenances and
equipments, and the rights, privileges and franchises
thereunto belonging or in anywise appertaining, and
the income, tolls, rents, issues and profits thereof, in¬
cluding the roadway and tracks, rails and roadbed,
side-tracks, bridges, viaducts, fences, stations, depots,
machine-shops, and all other buildings and structures
whatever, docks and wharves, sand or gravel pits, and
deposits of materials ; and all other things belonging
to, or used, or designed for use for or in connection with
the road, together with all the locomotives and tenders,
freight and passenger cars, and all other cars, and all
other rolling stock or equipments whatsoever, and all
materials for the use of said road, together with all
property and things of such nature or description as
above mentioned to be hereafter acquired by this Com¬
pany, for or in connection with the said line of railroad
or the working, use or operation thereof, with a coven¬
ant in proper form for further conveyance and assur¬
ance as to such after acquired property.
Resolved, That the President, cause the several in¬
struments above authorized to be prepared, and that he
affix thereto the Company's seal, and cause the coupons
10
to be signed by the Treasurer, and that he do, or cause
to be done, such other acts and things as may be ap¬
propriate to perfect the said bonds and mortgage in
due form, to carry out the purposes of these resolutions,
and to effectuate the lien of the said bonds and mort¬
gage.
Resolved, That the President, with the concurrence
of the Finance Committee, or a majority of them, be,
and he is hereby authorized to sell and dispose of the
said bonds for eight hundred thousand pounds sterling
from time to time, for such prices and on such terms as
he shall deem for the interest of the Company ; and he
is hereby authorized to consign the said bonds, to Bar¬
ing Brothers & Co. for sale, and take from them an
advance thereon, and make such contract with them in
relation to the disposal of the bonds and the refunding
of such advance as he shall deem for the interest of
the Company.
Now this Indenture Witnesseth, That in pur¬
suance of the above recited resolutions, and to carry
out the plan and scheme thereof, and in order to secure
the due payment of the principal of and interest u pon
the above mentioned bonds for eight hundred thousand
pounds sterling, being four thousand such bonds for the
sum of two hundred pounds sterling each, numbered
from 1 (one) to 4,000 (four thousand) inclusive, which
are or are to be executed under the Company's seal,
with the signature of the President, and to have an¬
nexed thereto such coupons, and to have endorsed
thereon such certificate of the Trustees as aforesaid ;
and to secure the due performance of the obligation
11
of the said Company in relation to providing and
remitting the said annual payments for the Sinking
Fund, and in consideration of the premises and of
one dollar to the said party of the first part in hand
paid by the said parties of the second part, at and
before the sealing and delivery of these presents,
the receipt whereof is hereby acknowledged, the said
party of the first part hath given, granted, bargained
and sold, aliened, remised, released, conveyed and
confirmed, and by these presents doth give, grant,
bargain and sell, alien, remise, release, convey and
confirm unto the said parties of the second part, as
joint tenants, and to their heirs, executors, adminis¬
trators and assigns forever, according to the character
of the property affected hereby, and to their successors
in said trust, all and singular, the Railroad of the said
Baltimore and Ohio Railroad Company, from the com¬
mencement thereof, in the City of Baltimore, in the
State of Maryland, to the terminus thereof, in the City
of Wheeling, upon the Ohio River, in the State of
West Virginia, with all the appurtenances and equip¬
ment, rights, privileges and franchises thereunto be-
belonging, or in anywise appertaining, and the in-
I
comes, tolls, rents, issues and profits thereof, including
the roadway and tracks, rails and road bed, side-tracks,
bridges, viaducts, fences, stations, depots, machine
shops, and all other buildings and structures, docks
and wharves, sand or gravel pits, and deposits of ma¬
terials, and all other things belonging to, or used or
designed for use for or in connection with the said
Road, together with all the locomotives1 and tenders,
freight and passenger cars, and all other cars, and all
other rolling stock or equipment whatsoever, and all
12
materials for the use of said Road, including as well
all property and things whatsoever of any such nature
or description as is above mentioned, which shall be
hereafter acquired or possessed by the said Company
for, or in connection with, the said line of Railroad
between Baltimore and Wheeling, or the working, *use or
operation thereof, as such property and things now pos¬
sessed or owned by the said Company, to have and to
hold the same for so much thereof as is of the nature of
realty to the said parties of the second part as joint
tenants, and their heirs and assigns forever, and to their
successors in the trust, their heirs and assigns, and for
so much thereof as is personalty to the said parties of the
second part, their executors, administrators or assigns
forever, and to their successors in said trust, but upon
trust nevertheless, for the benefit and security of the
several persons who shall be, or become, holders respec¬
tively of the above mentioned four thousand bonds for
two hundred pounds sterling each, numbered from 1
(one) to 4,000 (four thousand) inclusive, issued or to be
issued as aforesaid, to secure to the holders of such
bonds equally, without preference of one over another
by reason of priority in time of issue thereof, or other¬
wise, the due and punctual payment of the principal
of said bonds and of the semi-annual interest thereon
according to the tenor and effect of the said bonds and
the coupons attached thereto, and likewise the due
establishment and maintenance of the said Sinking
Fund by the said annual payments and remittance by
said Company of sixteen thousand pounds sterling per
annum as above mentioned and provided, and the due
fulfillment by the said Company of its obligations in
13
respect of said Sinking Fund, in this indenture expressed
or contained.
Axd it is hereby Declarer, Provided aid Agreed,
and these presents are upon the express condition that
if the said party of the first part shall punctually,
well and truly pay the principal sums specified in the
above mentioned bonds to the aggregate amount of eight
hundred thousand pounds sterling, and the interest from
time to time accruing thereon, according to the tenor and
effect of the said bonds and coupons as aforesaid, and
shall also punctually and well and truly make the above
mentioned payments and remittances of sixteen thou¬
sand pounds sterling in each and every year, for the
purposes of the Sinking Fund as aforesaid, and shall
well and truly observe and perform all its stipulations
in relation to the said Sinking Fund, which are con¬
tained in this indenture, then these presents, and the
estates, rights and interests thereby granted shall
cease, determine and become of no effect ; and that
until default shall be made by said Company in the
due and punctual payment of such principal or such
interest, or such payments and remittances to or for
the Sinking Fund aforesaid, the said Company shall be
entitled to remain in the possession, use and enjoyment
of the said Railroad, premises, property, rights and
interests hereby mortgaged or conveyed in trust.
And it is hereby further provided, declared, granted
and agreed, that if the said Company shall at any time
make default in the due and punctual payment of the
interest accruing upon the said bonds, or any of them,
or in the due and punctual furnishing and remittance
14
of the sums hereby stipulated to be furnished and re¬
mitted by it to or for the said Sinking Fund, and such
default on the part of said Company shall continue for
ninety days after demand made by the holders of said
bonds, or by Baring Brothers & Co., as representing
the Sinking Fund, the whole principal sum secured by
the said several bonds numbered from 1 (one) to 4,000
(four thousand) consecutively, or such of the same as
shall then be outstanding, shall at the option of .the
holders of such bonds respectively, become and be due
and payable and demandable immediately, together
with any arrears of interest thereon, anything in the
said bonds or hereinbefore contained to the "contrary
notwj thstanding, and with like full effect as if this
provision were inserted in each of said bonds.
And it is further provided, granted, declared and
agreed, that any default by the said. Company in respect
of the interest upon such bonds, or any of them, or in
respect of the hereby stipulated payments and remit¬
tances to or for the Sinking Fund aforesaid, if such
default continues for ninety days after demand made
by any holder of such bond in respect of interest, or by
Baring Brothers & Co., as trustees of representatives of
the Sinking Fund, in respect of payments or remit¬
tances due to said fund, shall be of like effect as a
default in the payment of principal of said bonds at
maturity, and shall entitle the said parties of the second
part, or their successors, to proceed with the enforce¬
ment of this mortgage or deed of trust and foreclosure
of the equity of redemption of said mortgaged premises,
as if there had been a total default in the payment at
maturity of the principal sum secured by said bonds.
15
And it is hereby provided, granted, declared and
agreed that in case of default continued for ninety days
after demand made as aforesaid, in the due and punctual
payment of the principal of or interest upon the said
bonds hereby secured, or any of them, or in the due and
punctual furnishing and remittance by said Company of
the annual contributions of sixteen thousand pounds
sterling to the Sinking Fund or the proportion thereof
as aforesaid, or in the performance of the stipulations
on the part of said party of the first part in respect of
said Sinking Fund herein contained^ it shall be lawful
for the said parties of the second part, or their suc¬
cessors, in the said trust, for and on behalf of the
holders of the several bonds entitled to the benefit of
the. security provided by this indenture, to enter upon
and take possession of all and singular the premises,
property, rights and interests hereby mortgaged or con¬
veyed in trust, and to use and operate the same and
take and receive the income, tolls and profits thereof ;
and likewise to proceed under the order or decree of
any court of equity, or other competent court having
jurisdiction in the premises, to sell and dispose of at
public auction, and thereupon convey to the purchaser
or purchasers, free from all right, claim or equity of re¬
demption of said party of the first part, its successors
or assigns, all and singular, the premises, property,
rights, interests and franchises hereby mortgaged or
conveyed in trust or intended so to be, and from the
net proceeds realized by means of such use and opera¬
tion, and from such sale, or from either, in the first
place to retain and pay all proper costs, charges and
disbursements incurred in or about the premises, in¬
cluding the reasonable compensation of the Trustees,
16
and then apply such net proceeds to or towards the pay
ment and discharge, equally and without preference, of
the principal and interest at such time owing or unpaid
upon all and singular the bonds hereby secured and
then remaining outstanding, whether the same be then
due or yet to become due, rendering and paying any
surplus there may then remain, after the full satisfac¬
tion of all said bonds and interest, to the said party of
the first part, its successors or assigns. And the said
party of the first part doth hereby covenant, promise
and agree, that in case of any default on its part as
aforesaid, it will not set up, claim, or seek to take ad¬
vantage of any valuation, stay, appraisement, or ex¬
tension laws, or other laws which may then exist in
order to prevent or stay the immediate enforcement
and foreclosure of this mortgage, or the absolute sale
of the mortgaged property and rights thereunder with¬
out and free from appraisement, valuation, stay, or
other condition or hindrance, but will, and hereby does,
waive the benefit of any and all such valuation, stay,
appraisement, extension or other laws to such effect as
aforesaid.
And the said party of the first part doth hereby
covenant, promise and agree to and with the said par¬
ties of the second part and their'successors, for and on
behalf of all persons who shall be or become holders
of any of the above mentioned bonds entitled to the
benefit of the security hereby provided, that it, the said
party of the first part, shall and will well and truly
observe, perform and fulfill all and singular the pro¬
visions and stipulations in respect of the Sinking Fund
aforesaid, which are expressed or contained in the
17
above recited resolutions in that behalf passed by the
President and Directors of the said Company on the
ninth day of February, as aforesaid, and shall and
will punctually in each and every year furnish and re-
mit to Baring Brothers & Co., at London, so as to be
♦
received by them by or before the first day of March,
the therein , stipulated amounts of sixteen thous¬
and pounds sterling, for the purposes of said Sinking
Fund, the first of which remittances shall be so made,
as that it shall be received by Baring Brothers & Co.,
in London by or before the first day of March, eigh¬
teen hundred and seventy-one, subject, however, tq
the above stated provisions of the resolutions in re¬
lation to deferring contributions to the Sinking Fund
on account of bonds remaining unsold, and that such
contributions and remittances to the Sinking Fund
shall, by Baring Brothers & Co., as Trustees of said
Sinking Fund, be held, applied and disposed of as
specified in the above recited resolutions in that behalf,,
and that all things stated in said resolutions in respect
thereof shall be applicable thereto as fully as if the
same were here specially repeated.
And the party of the first part hereby covenants with
the parties of the second part for and on behalf of the
bondholders entitled to the benefit of the security here¬
by provided or intended so to be, that it, the said party
of the first part or its successors, shall and will, at any
and all times hereafter upon reasonable request make,
do, and execute all such other and further reasonable
assurances, acts, deeds and things, as in the opinion of
competent counsel shall be necessary or proper, to
effectuate the lien and security hereby intended to be
i .■* *
18
created for the benefit of such bondholders, and espe¬
cially to render subject to the lien of this mortgage any
and all after acquired property of such description as
is herein above declared to be intended to be embraced
in the security hereby afforded or intended to be af¬
forded.
And it is hereby further granted, provided, declared
and agreed, that in case of the death, resignation, in¬
capacity or removal, of any of the said parties of the
second part as Trustees hereunder, or of a vacancy in
any way occurring in such Trusteeship, such vacancy
shall be filled by the appointment of a new Trustee or
Trustees by any Court in the State of Maryland, either
State or Federal, having jurisdiction in the premises,
which appointment may be made, either upon the ap¬
plication of the Company giving such previous notice
to Baring Brothers & Co., on behalf of the bondholders
as the Court may direct, or on application of Baring
Brothers & Co. on behalf of the bondholders, giving
such previous notice to the Company as the Court may
direct, and so from time to time as vacancies shall
occur in the Trusteeship the same shall be filled in man¬
ner above provided, so as to keep up the number of
Trustees to three, and each new Trustee thus from time
to time appointed to fill a vacancy, shall upon such ap¬
pointment, without further act, deed, or conveyance,
become and be vested with and subject to the estate,
rights, powers and duties of the former Trustee in
whose place he shall be appointed, but nevertheless the
surviving or remaining Trustees and the retiring Trus¬
tee or representatives of a deceased Trustee shall, if
required, make, do, and execute, any acts, deeds or
19
things which shall be requisite or proper, fully to vest
in and confirm to such substituted Trustee, such estate,
rights and powers, formerly vested in the Trustee whom
he shall succeed. And provided further, and it is
hereby declared and provided, that notwithstanding the
above provision that the number of Trustees shall be
kept up to three, when the said number shall be reduced
below three, the surviving or remaining Trustees shall be
vested with the estate and trusts, and may execute and
perform the duties thereof, as fully as three could do,
until the vacancy shall be filled in manner aforesaid.
And the said parties of the second part hereby accept
the said trusts, and covenant faithfully to execute the
same.
And it is hereby declared that of the mortgage debt
of the Baltimore and Ohio Railroad Company, amount¬
ing originally to eleven millions eight hundred and
ninety-five thousand one hundred and sixty-six dollars
and sixty-seven cents, there remain still in force mort¬
gage liens amounting in all to six millions nine hun¬
dred and fourteen thousand four hundred and forty-
one dollars and eighty-six cents, subject to the prior
lien of which this mortgage is executed.
And this Indenture further witnesseth that William
H. Ijams is hereby appointed the attorney of the said,
The Baltimore and Ohio Railroad Company to ac¬
knowledge these presents as its act and deed.
In testimony whereof, the said party of the first part-
hath hereunto affixed its corporate seal and caused the
same to be attested by the signature of its President,
20
and the said parties of the second part have hereunto
set their hands and seals the day and year first above
written.
JOHN W. GARRETT,
President of the Baltimore and Ohio Railroad
Company
Signed, and sealed
by JOHN W. GARRETT, President. f M*ffc\
I Baltimore & Ohio )
JOHN W. GARRETT, \r.R.c„ 7
and JOHNS HOPKINS, Trus
In presence of
W. H. HAYWARH.
Signed and sealed,
bv JAMES TINKER.
In presence of
CHAS. F. SOUTHMAYH.
A. HARRIS.
JOHN W. GARRETT. (Seal.)
JOHNS HOPKINS. (Seal.)
JAMES TINKER. (Seal.)
Trustees named in the within instrument.
21
STATE OP MARYLAND,
CITY OF BALTIMORE\ to wit:
Be it remembered, That on this sixteenth day of
February, in the year eighteen hundred and seventy,
before the subscriber, a Justice of the Peace of the
said State, in and for the said city, personally appeared
William H. Ijams, the Attorney named in the forego¬
ing instrument of writing, and acknowledged the same
to be the act and deed of The Baltimore and Ohio Rail¬
road Company ; and at the same time before me also
personally appeared Johns Hopkins, one of the mort¬
gagees, in the said instrument named, and made affirma¬
tion, in due form of law, that the consideration of said
mortgage is true and bona fide, as within expressed.
W. H. HAYWARD.
STATE OF MARYLAND,
BALTIMORE CITY, Set :
I hereby Certify, That Wm. H. Hay ward, Esquire,
before whom the annexed acknowledgment and affirma¬
tion were made, and who has hereto subscribed his name,
was, at the time of so doing, a Justice of the Peace
of the State of Maryland, in and for the City of Balti¬
more, duly commissioned and sworn.
In Testimony Whereof, I hereto set
Seal of \ my hand and affix the seal of the Supe-
j The Superior Court of .
Baltimore City. / rior Court of Baltimore City, this 16th
day of February, A. D. 1870.
GEO. ROBÎNSON,
Cleric of the Superior Court of Baltimore City.
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