Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1809-05-16


day in June, and the first Monday in
December, inevery year, in the city of
Washington, to which meeting the
president and directors shall make a
report, and render distinct and lust ac-
counts of all their proceedings and on
Holding them Justly and fairly stated
the stockholders then prese Mt, or a ma
]ority OF them; shall give certificate
thereof; anil at such half yearly general
meetings, after leaving in the hands Of
the treasurer such sum as shall be
Judged necessary for repairs, improve
ments or contingent charges, an equal
dividend of all the nett profits arising
from the wharfage and tolls hereby
granted. shall be ordered, and made
to and among all the stockholders of
the said company, in proportion to their
several shares provided, that if the
nett profits shall in any year, exceed fif-
teen per centum on the sum actually ex-
pended by the said company in opening
the said canal, audicompleting the same
the fifteen per centum only of the nett
profits shall be divided among the
stockholders, and the excess shall be
paid to the mayor and city council of
the city of Washington, for the use of
the said city.
Sec. 12. And be it further enacted.
That for and in consideration of the ex-
pepses, the said stockholders shall in.
cur in cutting the canal, erecting
locks, aud in maintaining and keeping
the same in repair, and in the enlarge
ment and improvement OF the same,
the said company is hereby authorised
to collect on all articles and materials
landed on each side OF the canal, from
on board any boat or scow, or placed
on either side of the said canal, for the
purpose OF being taken therefrom by
any boat or scow, according to such
rates rs the president and directors
may, from time to time, by their bye
laws, order and direct: Provided, That
the said rates shall, at no time hereaf-
ter, and IN no particular, exceed the
rates which are, or may be established
by the owners of wharves in the city of
Washington. And it shall and may
be lawful for the said company to de-
mand and receive, at the most conve-
nient place, for all articles carried
through the said canal, tolls not excee-
ding the following rates, that is TO say
for each unloaded boat or scow TWEEN
ty FIVE cents for each barrel of -four
two cents f.; for each barrel of beef or
pork two cents ; ioreach barrel of w his
key or brandy three cents for each
hogshead or pipe six cents and upon
all other articles, packages and COM
modities, one sixth part of the amount
OF tolls allowed by law to be received
By the Potomac company, at the great
tails OF the river Potomac. And the
said company shall also have the exclu-
sive right to establish packet boat or
boats upon the said canal for carrying
passengers, and no other packet boat
or boats, but such as are established or
permitted by them, shall be allowed to
carry passengers through the same for
hire.
Sec. 13. Provided always, and be i,
further enacted, That all public prop
erty shall pass through the said canal
free OF toll, and also, that in case the
said canal and one OF the forks thereof
shall not be completed within the term
OF seven years from the passage of this
act, in such manner as to admit boats
and scows drawing three feet water TO
pass through the same, that the said ca
nal shall revert 10 the United States,
and all ight and authority hereby gran
ted to the said company shall cease and
determine.
Sec. IA. And he it further enacted,
That the said company shall from time
TO time, whenever and wherever the
mas or and city council shall order and
direct, suffer bridges TO be erected "a
cross the canal, and shall suffer the
SANE, when erected, to be repaired !:
Provided, That every bridge so erec-
ted, shall be at least six feet above high
water marx.
Sec. s.. And be it further enacted,
That the president and directors OF said
company, after the canal shall be open
ed and made passable for boats and
scows drawing three feet water, shall