Martinsburgh gazette. [volume] (Martinsburgh, Va. [W. Va.]) 1810-1825, 1823-05-29
POTOMAC NAVIGATION.
LAW OF THE STATE OF VIRGINIA.
AN act Incorporating The Potomac
Canal Company; passed February
90 1929


Whereas, q nayigable canal, 10 be supplied by
ahe waters Of the river Potomac, and OF its trbu-
tary streams from the highest point practicable
on the north branch of the said river by Cum.
berland, 20 tide water within the District of
Columbia, vii! be awork ofgreat profit and ad.
vantage 10 the people Of this state, and of the
neighboring states, and may ultimately tend to
establish connected navigation between the
eastern and western waters, so as te extend and
multiply the means and facilities of interior COM
mcrce aud personal intercourse between the
. two great sections ofthe United States, and to
Intervene more closely all the reciprocal Inter.
es!s and affections that are necessary to conso-
ldate and perpetuate the vital principles of UNI
ion
And, whereas it is represented to the Gene
7sl Assembly that the Potomac Company are
willing and DESTROYS that charter shall be
granted to new company, upon the terms and
conditions hereinafter expressed, and that the
Smarter of the present COZ psny shall cease and
determine
Re htherefere enacted by she General .7sscm5iy
# Virgini0, That, so soon as the Legislature of
the State OF Maryland shall pass an act of like
effect with this act, and the Potomac Company
shall have signifed their assent to tie same by
heir corporate act. to be delivered to the Elk.
ecutive of this Commonwealth, there shall be
appointed by the Board of Public Works, If in
session, but if not in session, then by the ex-
officers members thereof, three commissioners
on the part OF this commonwealth to act in con-
JUNCTION with three other commissioners ON the
part Of thesate OF Maryland The said commits
sloners shall cause books to be opened, at such
times places they shall think 1T, in this state
and elSewhere,& under the management of such
persons as they shall appoint for receiving sub.
scriptions to the capital stock Of the company
hereinafter incorporated, which subscriptions
may either be made in.person orby over OF at
torney; & notice shall be given, in such manner
SIS may be deemed advisable, of the time &
places ofopening the book. And the said corr
missioners shall cause the books to be kept open
at leasttwo months, &, within twenty days after
the expiration thereot, shall call generalmeeting
of the subscribers at the CITY Of Washington, of
which meeting notice shall be given BY the
commissioners aforesaid, in at least three of the
newspapers printed IN Virginia, Maryland, and
the city Of " ashington, ut least one month next
before the said meeting; and such meeting
SHALL and may, be continued from day, 10 day.
untill the business Is finished and the com.
Inissioners, at the time and place aforesaid, shall
lay before such OF the subscribers as shall meet
according to SAID notice, the books containing
the state of the said subscriptions and if one
halt Of the capital sum of two millions Of dol
lars hereinafter mentioned should, upon erami.
hation, appear not 10 have been subscribed
tnen tn; said commissioners, or a majority of
them. at the said meeting are empowered to take
and receive subscriptions to make I'D the de.
4lcienoyp and may continue to take and receive
subscriptions to make up such deficiency for the
term OF twelve months thereafter and lust
end true list OF all the subscribers, with the sans
subscribed by each, shall be made out and re.
turned by the said commissioners or a majority
" them, under their hands, to the Board OF
Public Works Of this state, the Governor and
Council Of the state Of Maryland, to be there re-
corded; & IN case more than two millions ofdol.
lars shall be subscribed, then the same shall be
reduced to that sum by the said commissioners
or a nisjorigof them. by beginning at, and
striking of, share from the largest suhscrip.
ton OF subscriptions, and continue to strike of
share from all subscriptions under the largest
and above one share, until the same is reduced
90 the capital OF two millions OF dollars, OF
unul Share s taken from all subscriptions above
one share, and lots shall be drawn between sub
scrbers OF equal SUNS to determine the number.
tn which such Subscribers shall stand, on lis
10 he made for striking of as afore said and il
abe sum subs :ribed still exceeds the capita
aforesaid, then TO strike OF by the same rule IN
al The sam subscribed is reduced to the capita
Aforesaid or ss the subscription reduced to ont
Lhaie ana there still be an excess, then lot
60 ee oHSWn 10 determine The subscribers whC
eIe 10 be excluded, to reduc the subscrip
tons 70 tpe capital Aforesaid which striking o.
'iiaA y eeIsiher on TIT Est afcresaid and Ii
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