The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1823-11-21

kTr.
That With. the act shall allow a reaxon-
able time for the commencement and H.,
completion of both sections of the canal
no other forfeiture shall be incurred. afte,
TIT eastern section is flushed, for a Eaiinr.
IL begin or complete the western sec,,on
within the term prescribed, except of the
right TO complete such section and of an
interest therein.
That Wide the consent of Pennsylva,;,
is provided for, in the amended act, il shall
not be Kdispensably requisite to the vail
dity of the charter, so Ear AS respects IN,
authority granted by it., 10 extend the
Union anal TO the Pennsylvania line.
That it will be both Just aud expedien,
if not absolutely necessary, to limit tho
interests of the stockholders of the Po,o-
mac Company, in the stock of the Chesa-
eeake and Ohio Canal, in the mode proyi.
ded by the unanimous resolution OF tho
company Of the 9Th day of FEBRUARY last. A
copy of which is hereto annexed.
That the said Canal shall not, in width
be less at the surface than 40 feet, at ia
bottom than %, nor its depth of water be
short of four feet, except where from the
nature of the ground, it may be necessary.
for the greater security Of the banks of the
Canal, to reduce its breadth at its base to
less than 80 feet.
That the act aforesaid be- amended, by
inserting, in lieu of the 10th section thereof
the following
~9ne be ii further enacted, The right to
the waters of the river Potomac, for the
purpose of any lateral Canal OF Canals.
which the state of Virginia or MARYLAND
may authorize to he made in connection
with the said Canal, is reserved 10 the said
states respectively that similar right is
reserved TO the state OF Pennsy lyania il
relation to the rivers and streams within
the territory of that state, the waters Of
which may be USED in supplying the west.
ern sectlon of the said Canal; that the Go,
Vernment OF the L. States shall retain the
power To extend the said Canal in or thro'
the District OF Colombia, on either or both
sides of the Potomac; and the State Of
Maryland or Virginia shall be empowered,
under the sanction given by the U. Statesto
tins act, To authorize any such extension
tor the purpose Of meeting any Canal so
extended, by any other Canal which
either state may deem it expedient to con,
duct IN any drectioa whatever tbro' its
territory.
Provided, Aoaeuer. That no part of the
waters of the river Potomac, or Of any
other river cr stream, required to ensure
the constant, safe and convenient use of the
navigation of the Canal hereby authorized
to be made, shah be, by any such lateral
or continued Canab diverted thertirom to
the impeachment or injury OF the said naSr
CATION.
That, in addition to the provision CON
tanned in the first section of the act a.
forcsaid, there be grounded, on the e'
vent of its failure to furnish adequate
funds for the completion of the East.
ern Section Of tae Canal, To be obtained
thrauSh separate acts of the respectns
Governments and Corporations, of the
States of Maryland and Virginia, of the
United States, aud of the three Cities Of
the District of Colombia, a subscription, to
the amount, if necessary, of s2,75O,00o, in
the following proportions, Gil to be sub
| scrbed by the State Of Mrry land, S-ll by
the State of Virginia, All by the United
States, and 9-1 by the District Cities, to
be divided between fhem, according TO al
equitable ratio, TO be fixed by themselves.
In case that part of the sum aforesaid
shall be subscribed, by private individuals
IN the mode provided by the act aforesaid,
the several States and Corporations, with
in which such individual subscriptions are
received, shall he represented to assume, as
part nf their aforesaid quotas, the amount
OF such subscription, under such security as
they may deem expedisnt for the payment
thereof by the subscribers to them respec'
| lively.
That the Government of the United
States be earnestly solicited 10 obtain the
whole of this sum on loan, receivable 10
four annual instalments, upon the issue OF
certificates OF stock, hearing an annual III
terest not exceeding five per cent, and
irredeemable for thirty years, and to qua
ranty the repayment thereof on specific
pledge Of the public Lots in the City OF
! Washington, Of the United States stock 10
the Canal, and the public faith.
That the first instalmpnt of the loan be
made payable on the Ist of March,
1898, and the last on the LIST day of March,
1899.
That the interest Of each State and Cor
poration upon its proportion of the SAID
loan he paid into the Treasury Of the Un-
ted States, according to the terms OF the
| loan, and the principal sum at the expITa.
ton of thirty years, the period to be fixed
for its redemption,
That, IN the event Of a refusal by the so
vernment of the u. S. to negotiate the said /
loan, each State and Corporation shall /
provide the amount of its respective sub
scrlpton in such manner as may seem to IL
best.
| That the maximum profit of the sa'a
Company shall not exceed IS per cent
alter the entire Canal shall have been com
r'eted; but, if at any time after the comPt
ton of the eastern section thereof, u beioto