The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1823-04-07

valuation, the Jury is hereby directed to
iescribe and ascertain the bounds of the
and By them valued, and the qusn,i,v
and duration OF the interest and estate in
| the same required by the said cam3annv
tor its use and their valuation shall be
conclusive on all persons. and shall be
naid for by the said president and direc
'ors To the owner OF the land or his Legal
representative +; and on payment thereof
the said company shall be seized of sue h
land as of an absolute estate in pcri1etui,v
or with such less quantity and duration Of
interest, or estate in the same or subiec'
to such partial or temporary appropria
tan, use or occupation, as shall be re
quired s. described as aforesaid,as If con-
veved by the owner to them.
Sec. ID That it shall be the duty Of
the COMPANY hereby incorporated, to
cut, make and construct from Cumber-
land aforesaid to tide alter in the district
of Columbia, complete and we'll finish
ed canal, with good and sufficient locks,
and with clear width Of not less than
thirty feet at the top and twenty feet at
the bottom, and sufficient to admit at all
seasons the navigation OF boats and RATS,
with the depth ofthree feet water al least
and the surplus water passing through
said canal, over and ebove what shall be
necessary and abundantly sufficient for
the purposes of navigation as aforesaid,
NAV be from time TO time sold and dis
posed Of by the said company, for pur>
poses Of supplying such works and ma
chincrv as require water power.
Sec. 10. That il shall and may be
lawful, for any one of the said stock.
holders 20 transfer his or her share or
shares, by deed executed before two
witnesses, and registered after proof of
the execution thereof in the said ccmpa
nv's books, ard not otherwise, except by
devise which devise shall also be exhibits
ed 10 the president s, directors s, regis
tere in the compauv's books before the
devise or dcvisecs shall be entitled todraw
any part Of the profits f. m the said tolls
Provided, That no transfer whatsoever
shall he made, except for one or more
whole share or shares and not Cor part
nf such snare or shares, and that no
| here or shares shall at any time be sold,
onveved, or held in trus, for the use and
A
| y The said presi1en, and directors or
spckholder of the said company or any
| othem shall or msy be challenged, or
| made to answer concerning any such
| inst but thar every person appearing
asaforesaid to be a~stockholder shall, as
to'he others of the said company, be to
eery intent taken absolutely as such /;
bit as between any trustee and the PEI.
scn for whose benefit any trust shall be |
Grated the common remedy may be |
pursued
Sec 16. That If the said capital, and |
~ other aids already granted by thi,
ot, shall prove insufficient, it shall and |
nav be lawful for the said company,
from time TO time to increase the said
capital by the addition of so many whole
shares not exceeding FIVE thousand as
shall be Judged necessary by the said
stockholders, or majority of them, pre-
sen. at any general meeting of the said
company, and The said president and di-
rectors or majority of them, are here
by empowered and required after giving
at least two months previous notice
thereof, in at least three of the newspa.
pers OF Washington, Maryland, and Vir
ginia, to open books in the beiore-meu-
Toned places for receiving and entering
such additional subscriptions in which
the stockholders OF the said company for
the time being, shall and are hereby
declared TO the preference of all others
FOR the first thirty days after the said
books sha be opened as aforesaid, Of
tak ing and subscribing for so many whole
sHa cs as any Of them shall choose and
the said president and directors are
hereby acquired TO observe, in all other
respects the same rules therein as are
by. this act prescribed for receiving and
adjusting the first subscriptions, and in
like manner to return under the hards
oI any three or more Of them, an exact
list of such additional subscriptions with
the sums by them respectively SUBJ
,cribed TO the governor and councils as
Aforesaid to be there recorded; and all
stockholders Of such additional shares
3hs i, and are hereby declared to be from
thenceforward incorporated into the said
company.
Sec II. That whenever it shalt be-
| come necessary to subject the lands OF
any individuals to the purposes provided
for in this act, and their consent cannot
be obtained, it shall and may be lawful
for The company 10 enter upon such lands
and proceed TO the execution Of such
soiks as may be requisite and that the
| DerleDcy OF any proceeding IN any SUIT