The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1823-04-02

| n the legal currency of the United States.
or IN the certificates of stock Of the pre-
sen, Potomac company a, the par value
thereof or in the claims of the creditors
OF the said company, certified by the act
ing president and directors to have been
due Tor principal debts on the day on
which the assent of the said company
shall have been signifed by their corpo.
rate act, as hereiRbe ore provided: Pro-
vided, the said certificates of stock shall
not exceed in the whole amount the sum
OF three hundred and eleven thousand
one hundred and eleven dollars and eIe-
ven cents, nor the said claims, the sum of
one hundred and seventy five thousand
eight hundred dollars: Provided also.
that the stock SO paid for in certificates
OF the stock of the present company, and
ntthe debts due from them, shall only oe
entitled 10 dividends as hereinafter pro.
vided, and that no payment shall be re-
ce!ved in such certificates of stock until
the Potomac company, shall have exc
cuted the conveyance prescribed by the
eleventh section of this act and proyi.
ded. that unless one half of the said cap,-
tai shall be subscribed as aforesaid. all
subscriptions made in consequence of
this act, shall be void and in case one
hall, and less than the whole capital shall
be suhse ribed, as aforesaid, then the said
commissioners, or majority of them,
are hereby empowered, and directed 10
take and receive the subscriptions " hich
shall first be offered, in whole shares, az
aforesaid, until the deficiency shall be
uPi certificate OF which additional
subscription shall be made under the
hands of the said commissioners, or a
majority of them, for the time being, and
returned and recorded as aforesaid
Sec G. That whenever one half or
greater part of the said stock shall have
beeH subscribed in the manner provided
for by this act, then TIE subscribers. their
heirs and their assigns, shall be, and are
hereby declared 10 be incorporate, into
a company, by the name "ef the "Poto-
mac Canal Company, and may sue and
be sued, and as sach shall have perpetual
Succe ssIon, and common seal and the
estates, rights, and interests OF the said
company, shall be adiudged and takeR
IN law TO be real estate and il shall
ihereupCD be the duty OF the said com.
mlssioners or majority of them, 20 cali
general meeting Of the sand subscri.
bers, a, such time and place, as5rney or
maturity OF them shall appoint, after
advertising the same in such public prints
as they, ct majority of them NAV think
proper. and such OF the said subscribers
as shall be present at the sad meeting.
or majority ofthemtare hereby empowe
cred, and required TO elect a presIdens
and SIX directors, for conducting the said
undertakings and managing all the said
fompany's business, and concerns, for
and during such time, no, exceeding
three years, as the said subscribers, or
majority OF them, shall think Fl; and in
counting the votes of all general meetings
1t the said company, each member shall
be allowed one vote for every share, as
tar as ten shares, ahd one vote tor every
i've shares above ten, by him or her held
at the time in the said company and any
proprietor, by writing under his or her
hand, executed before two witnesses.
may depute any other member or pro-
prietor to vote, and act as proxy for him
or her at any general meeting: Provided,
also, That no officer or director of said
company shall, under any circums ances,
be allowed to vote on any stock but his
own, and that no individual shall ever
give as proxy, more than one hundred
votes. To be Concluded.