The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1841-10-30

the opinion n the legislature it may be
expedlent and proper so to do, to convert
the said loan into the capital stock of the
said company at Tar in respect of which
the said State shall be preferred stock
holder III the same way, and to the same
extent, as is provided by the act of eigh-
teen hundred and thirty-Gvc, chapter
three hundred and ninety-fvc.
SEC. z. Ind be ii enacted, That the
maximum rate of tolls on the said Chesa-
peake and Ohio Canal, shall, from and al-
ter the first day of January, eighteen
hundred and forty-four, except upon the
article of coal, be raised to double the a.
mount now auth orised to be charged by
the charter, provided the Congress of tn,
United States, and the Legislature of Vir-
ginia shall assent to the same, and the
Governor Of the State is hereby required
to cause copy of this act to be submit
ted TO Congress and the Legislature of
Virginia at their next ensuing sessions,
after the passage Of this act. together with
such rcprcsen tations in favor of ts adop-
ton as to him may seem reasonable and
proper.
SEC 8. Ind be IL enacted, That be-
fore this act shall have any effect whatso-
ever, it shall be the duty of the President
and Directors of the said Chesapeake and
Ohio Canal Company to contract for the
completion of the canal to Cumberland,
att sum not exceeding the amount there
in hrtpro outb,ricrl ,pJ ,1;ro,,ol a., l.
borrowed, and to secure the faithful pei
Torrance of said contract, lhe said Presi.
dent and Directors are hereby required to
take good and sufficient security from the
contractor or contractors to be approv'dby
the Treasurer Of the Western Shore that
the work as contracted to be done, Shall
be fully executed within the time Limited
by said contract or contracts,
Sec. 9. find DC ii enacted, That orr
Senators Anu Representatives in Congress
be and they arc hereby requested to Use
their best efforts to procure tire assent of
that body to the seventh section of this
ACT
Sec. 10. .And uhereas it is to be an
pretended that the canal will reach Cum
berland before any effective effort will be
made to open and conn le,c the several
railroads which are to connect the canal
with the coal mines, in which case there
is danger that the State may be compelled
to make these rail roads at the public ex-
pensc, therefore, be ii further enacted.
that before any contract shall be made for
the completion OF said canal to Cumber-
land, or bond or certificate issued under
the provisions Of this act, the Treasurer
of the Western Shore shall certify, under
his hand and seal Of office, to the Prcsi-
dent and Directors Of the said Chesapeake
and Ohio Canal company, that the ccm-
panles hereinafter named, incorporated BY
the Legislature Of this State, to wit, the
Boston and New Y ork coal comrany,'
the "Maryland and New York Iron and
coal company" the Maryland Mining
company" and the "Clllon coal compa-
ny" have seyerally given satisfactory
bonds TO The State of Maryland, cond.-
toned for the construction and compile
ton of a rail road adequate to convey to
said canal The products oftheir respective
mines; the same to be completed ready for
use, simultaneously with the compIetion
of the Chesapeake and Ohio canal to Cum
bcrand.
SEC. II, .l,la be il enacted, That III
the bonds hcrelnbefore directed to be is
sued, cannot be sold in time to be imme-
dlatcly available, the said company may, |
and 1t is hereby authorised to issue certi- |
licates in sums Of not less than one dol |
lar, payable to the holder or order at the
Treasury Of the Western Shore, out ofthe
proceeds of the sales of the said certifi-
Gates Of stock or bonds, Provided ncpey-
MclesS, that no such certificates shall is
sue until after the canal shall be put un-
ner contract, as directed by The eighth
section Of this act, and prorided a1Solhal
not more than four hundred thousand dol
lars of said certificates shall be issued in
any one quarter Of a YER.
SEC. II. find be il cnacted, That no
part of this bill shall be operative until
one or more Of the Incorporated coal and
IRON companies in Allcgany county, shall
have entered into bonds with security to
to the State of Maryland, to be approved
by the Treasurer of the Western Shore,
to pay two hundred thousand dollars per
annum for five years for the uansporta.
ton of their own coal, iron Or other ma
terlals or goods at the expiration of each
and every year from and after six months
after the completion of said canal to Cum
berland, Prorided, that nothing herein
contained shall be construed to exoncrae
or release the said companies or owners
and ProPrietors, from the payment of the
full regular charge oftolls upon the whole
amount Of articles transported by them
whenever the same shall, at the rate oft
tolls charged or to be charged by the