Communication From the Chesapeake And Ohio Canal Company, to the Governor of Maryland : Including Copies of a Correspondence Between Said Company And the Messrs. Baring

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Peabodv. That arrangement was approved of bv the Board of Directors as soon as we had learned its terms, and the chief clerk was directed to forward to you evidence of that approba- tion, &.C." ^ Upon the terms then of tl'is agreement and agency, as set forth in the various extracts we have quoted, it appears that you now hold Maryland 5 per cent, sterling bonds to the amount of i.T33.000 — that the balance due you for cash advances made at various times, amounts now to .£80,151 8 — and by your... letter of the 3rd December, 184'2, dated at London, received through your agent, Mr. Ward of J3oston, as we have already mentioned, you repeat your proposition to become the purchasers of the X133,000 of the bonds belonging to the company in your hands at 50 per cent., and state, that unless the company assents to this proposition, or unless by the arrival of the Boston steamer, which is to sail on tlie 1st February, you are jdaced in i)ossession of some means of providing for the payment of the balance due you for advances, viz: j£80,i51 8, you will j)roceed to a sale of the bonds in your hands, either here (in London,) or in the United States as may appear most advisable.

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