1888, ch. 201, sec. 2.

4. The governor, comptroller of the treasury, and the treasurer of this State, or a majority of them, are authorized and directed to have prepared, certificates of indebtedness of this State, in good and sufficient form, to the aggregate amount of four millions three hundred and eighty-one thousand and sixty-six dollars and sixty-three cents, as evidences of such loan. Such certificates of indebtedness shall each be dated on the first day of July, eighteen hundred and eighty-nine; no one of said certificates shall be issued for a less sum than one hundred dollars, or some multiple thereof, except in cases where the due execution of the provisions of this article may necessarily require the issue of a certificate or certificates of indebtedness, expressing in part a fraction or fractions of one hundred dollars; each of such certificates of indebtedness shall be signed by the treasurer of this State, and countersigned by the comptroller of the treasury thereof, and shall bear interest at a rate not exceeding three and sixty-five hundredths per centum per annum, payable semi-annually, on the first day of January and the first day of July, of each year; such proportion of said certificates of indebtedness shall be registered, and such proportion shall have interest coupons attached thereto, as the governor, comptroller of the treasury and treasurer, or a majority of them, may from time to time determine. Each of said certificates of indebtedness shall be payable at the pleasure of the State of Maryland after the first day of July, in the year nineteen hundred and three; each of such certificates of indebtedness, and the respective debts evidenced thereby, shall be exempted from all State, county and municipal taxation; and there shall be endorsed by the treasurer of the State upon each of said certificates of indebtedness, when the same is issued for exchange, or other disposition under the provisions of sections 2 and 3 of this article, the date of such issue and the time from which interest shall begin to run thereon.

Ibid. sec. 3.

5. In order to provide for the exchange of the certificates of indebtedness issued under the provisions of this article for the said sterling bonds, or evidences of sterling indebtedness, the governor, comptroller of the treasury and treasurer of this State,

or a majority of them, are directed to advertise twice a week, for six weeks, between the first day of January, eighteen hundred and eighty-nine, and the first day of April, eighteen hundred and eighty-nine, in two newspapers published in the city of London, and twice a week, for three successive weeks, between the first day of March, eighteen hundred and eighty-nine, and the first day of May, eighteen hundred and eighty-nine, in two newspapers published in each of the cities of Baltimore, Philadelphia and New York, that the treasurer of this State will be in readiness between the first day of May, eighteen hundred and eighty-nine, and the fifteenth day of June, in said last mentioned year, to exchange at such place or places as may be named in said respective advertisements, certificates of indebtedness issued under this article for sterling bonds, or evidences of sterling indebtedness issued under the said act of eighteen hundred and thirty-eight, chapter three hundred and eighty-six, upon the terms hereinafter in this section prescribed; and the treasurer of this State is authorized and may be required, between the first day of May and the fifteenth day of June, in the year eighteen hundred and eighty-nine, by the holders of any of the sterling bonds, or evidences of sterling indebtedness of this State issued under the said act of eighteen hundred and thirty-eight, chapter three hundred and eighty-six, to exchange before the fifteenth day of June, in the year eighteen hundred and eighty-nine, and as of the date of the first day of July, eighteen hundred and eighty-nine, any part or parts of the certificates of indebtedness of this State, issued under the provisions this article, at their face amount and value, for any part or parts of the sterling bonds or evidences of sterling indebtedness of this State of the same aggregate amount and value, estimating each pound sterling at the value of four dollars eighty-six cents and six and a-half tenths of a cent. In making such exchanges all fractions of such aggregate exchangeable indebtedness of this State to any holder of such sterling bonds, or evidences of sterling indebtedness, amounting to less than one hundred dollars, and all amounts or differences of interest which may be required to be paid by the State in making any of the exchanges authorized by this article, shall be settled by the State, or by the persons liable to pay the same in cash; and all such differences which may be payable to the State shall be received by

the said treasurer, upon the warrant of the comptroller, into the treasury of this State.

1888, ch. 201, sec. 4.

6. If any of the certificates of indebtedness, issued under this article, remain unexchanged on the first day of July, in the year eighteen hundred and eighty-nine, for sterling bonds or certificates of sterling indebtedness issued under the act of eighteen hundred and thirty-eight, chapter three hundred and eighty-six, the governor, comptroller and the treasurer of this State, or a majority of them, may at any time, after said lastmentioned day, give notice by advertisements published twice a week, for at least four weeks, in two newspapers published in each of the cities of Baltimore, Philadelphia and New York, before the day mentioned in said advertisements as the day for opening the proposals thereby called for, that they will receive sealed proposals for the purchase of so many of such certificates of indebtedness issued under the provisions of this article as may not have been exchanged, as provided for in this article, at prices not less than the par or face value of the said certificates of indebtedness and the interest accruing thereon. On the opening of such proposals, so many of said certificates of indebtedness as have been so bid for, and the accruing interest thereon, shall be awarded by the said governor, comptroller of the treasury and treasurer, or the majority of them, to the highest responsible bidder or bidders therefor for cash; and when two or more bidders have made the same bid, and such bid is the highest, the certificate of indebtedness so bid for shall be awarded to such highest responsible bidders; and if the amounts so bid for, at the same highest responsible bid, are in excess of the whole amount of certificates of indebtedness so offered for sale, such certificates of indebtedness shall be awarded to such highest responsible bidders bidding the same price in the proportion which the amount each has bid for bears to the whole amount of said certificates of indebtedness so offered for sale. If any of said certificates of indebtedness so offered for sale are not bid for, they may be subsequently disposed of under the direction of the governor, comptroller of the treasury and treasurer, or a majority of them, at private sale, upon the best terms they

can obtain for the same; provided, that they shall not be sold for less than par and accrued interest.

1888, ch. 201, sec. 5.

7. Any bidder making an accepted bid, under the proposals herein provided for, for the sale of certificates of indebtedness not exchanged for said sterling bonds, or evidences of sterling indebtedness, shall have the privilege of paying for said certificates of indebtedness so purchased, or for any part thereof, in the unexchanged sterling bonds, or evidences of sterling indebtedness, intended to be redeemed by the proceeds of such sale, estimating the value of such sterling bonds and evidences of sterling debt at the rate of four dollars and eighty-six cents and six and a-half tenths of a cent for each pound sterling, with a further credit, at the same valuation, for any accrued and unpaid sterling interest thereon.

Ibid. sec. 6.

8. The actual cash proceeds of such sales, of any such certificates of indebtedness, shall be paid to the treasurer of the State, upon the warrant of the comptroller; and such proceeds shall be used exclusively for the redemption and payment of said sterling bonds, or evidences of sterling indebtedness, of this State.

Ibid. sec. 7.

9. The sum of twenty thousand dollars, or so much thereof as may be necessary, is hereby appropriated, out of any money in the treasury not otherwise appropriated, for the payment and settlement of all amounts or differences of interest required to be paid by the State in making any of the exchanges authorized by this article, and not hereinbefore or otherwise provided for, and for the payment of the expenses of the engraving, or printing, and other expenses connected with the issue of the exchange loan authorized by this article, and for the payment of the advertising directed by this article, and of all incidental expenses necessarily connected with the execution of the provisions thereof; and the said sum of money, hereby appropriated, shall be paid, as required, by the treasurer of this State, upon the warrant of the comptroller of the treasury, upon vouchers approved by the comptroller of the treasury.

1. It shall be unlawful for any person to practise dentistry in this State unless he shall have obtained a certificate as herein provided, or shall hold a diploma from a university or college authorized to grant diplomas in dental surgery; any person holding such a diploma, and desiring to commence such practice, shall present the same to the board of examiners created by this article, for approval; such examining board, being satisfied as to the qualifications of the applicant and the genuineness of the diploma, shall endorse the same as approved, and issue the certificate of registration provided for in this article.

1884, ch. 150, sec. 2.

2. There shall be a board of examiners, to consist of five reputable practising dentists, whose duty it shall be to carry out the purposes and enforce the provisions of this article. The members of said board shall be appointed by the governor, who shall select them from the dentists residing in this State; provided, that none of said board shall be pecuniarily connected with any dental college, or dental department of any college or university; the term for which the members of said board shall hold their office shall be for four years, unless sooner removed by the governor, and until their successors shall be duly appointed; in case of a vacancy occurring in said board, such vacancy shall be filled in like manner by the governor.

Ibid. sec. 3.

3. Said board shall choose one of its members president and one secretary thereof; it shall fix the time and place of its meet