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the legislative powers, relieve the company from the obligation to invest all 
the capital stock above indicated. In the same way he can grant permission to 
the company (with the consent of the legislative powers) to increase its capital 
aver 4,000,000 kroner, either by increasing the latter or by issuing a bonded loan. 
The treasury will guarantee the interest on and the amortization of the bonds 
which the port commission will issue for the purpose of obtaining funds for the 
onstruction of the free port, including the construction of the customhouse, 
oy setting aside for this purpose a fixed and unalterable annual contribution. 
The amortization will extend over a period not to exceed 60 years. However, 
this guaranty shall not exceed 8,000,000 kroner. The sums which the State 
treasury will have to advance in accordance with this’guaranty must be reim- 
bursed by the port commission as soon as possible. (This obligation of the port 
commission can not be, however, an obstacle for the collection of passage dues 
an vessels through the port of Knippel, dues which were fixed by royal decree 
of Oct. 30, 1816.) 
ArT. 4. The lands and property necessary for the installations will be exappro- 
priated in accordance with the provisions established by decree of March 5, 
1845, for the exappropriation of lands for railroads. However, under this agree- 
ment no compensation will become due to the city of Copenhagen for exappro- 
oriation of its lands or for damages. 
Arr. 5. For the installation of railroad communications, ete. (mentioned in 
art. 2), the Federal treasury may use a sum up to 905,000 kroner in addition to 
the expenses for exappropriation. 
ART. 6. The lands used for the free port as well as the railroad construction 
above mentioned will be free, while used for this purpose, of all taxes and other 
Tues which may have formerly been imposed thereon. The warehouses and 
nstallations constructed on this land and pertaining to the company, as well 
as the buildings for public administrative or exportation offices, will also be 
free of all taxes generally imposed on buildings and of the land tax which is 
tollected by the city of Copenhagen. (This exemption does not include, how- 
ever, the water tax.) The same privilege will be extended in the territory 
Indicated to the buildings belonging to the railroad. The port commission is 
authorized to issue the bonds indicated in article 3 on unstamped paper, be 
they personal or payable to bearer; and the transfer of the personal bonds, or 
of those which may have been converted later on into such, may take place 
without the use of stamps. Contracts made with reference to the installations 
mentioned do not require any stamps, and the bonds issued by the company 
tan also be extended or transferred under similar conditions. Materials which 
shall be employed in the construction of the railroad will be admitted free of 
customs duty. 
ART. 7. The lands of the free port necessary for the installation of facilities will 
be reserved and at the proper time turned over for this purpose on payment of 
the expenses which the port commission may have incurred in their purchase; 
or, in case they have come to be the property of the port commission by filling 
In, they will be obtained by paying the sums which the formation of these lands 
and their protection against the water may have cost in addition to the interest 
corresponding to the period elapsed between the conclusion of the improvements 
and the delivery of the lands. 
ART. 8. The secretary of the interior is authorized: 
First, to leave without effect the law of March 31, 1864, by which a port duty 
Was imposed on outgoing vessels. . 
Second, to exempt overseas vessels from the port duty established by said 
law for incoming vessels on cargo transshipped in the port and sent abroad by 
vessel, observing the regulations which may be issued in this respect by the 
secretary of the interior.