Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1858-09-09

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3 Col. BowIE said he would then submit q de-
finite proposition; and accordingly offered the
following order:
sOrderXd by the Commissioners that----- be
appointed as Agent to canvass for and receive sub
scrptions to the capital stock of this Company and
his Compensation shall be one dollar per share, to
be paid out of the cash instalment of two dollars
required by the Charter to be paid at the time Of
the subscription, and such further sum as may be
agreed upon, not exceeding - - per cent. up.
be instrumental in obtaining y
The CHAIRMAN stated that the blanks in the
order should be now filled, whereupon
Col. PLowDEE Of St. Mary's, moved to fill the
first blank by inserting the name OF. ROBERT
BowE Esq, of Prince Georges, it being the
general opinion that he would be the best man
for the place, if he would serve; and the motion
was unanimously adopted.
The question being the filing of the second
blank, Col. BOWIE said he learned that some
companies gave as high as 10 per cent. in SINH
lar circumstances but it seemed to him that
per cent. would be fair compensation.
Col. PLowDEN was Of opinion that 1fve pei
cent would be found to be liberal and salts
factory remuneration.
A suggestion that committee of three be APP
pointed to consult with the Agent as to the pei
centage having been concurred In, the CHAIR
appointed Messrs. BARKER, PLowDEN and HILL
as such committee.
4 The Committee retired, and after an absence
of some time rejoined the meeting. Its Chair
man, Judge BARKER inquired whether it was
designed that the Committee should make a
~f
fer with the Agent as to the proper per centage?
The CHAIRMAN thought that the latter was
designed to be the duty of the Committee
Judge BARKER, remarking that the Commit
tee had taken the same view, said that upon
consutation, they considered that the entire COM
pensation of the Agent Including the 2 per cent.
allowed by his ST. on each shareI ought not to
exceed per cent. upon the amount of subscrip-
tions obtained by him and they recommended
that per centage to the meeting. The report was
rec lived and concurred in.
Some conversation followed as to the proper
method Of filing the second blank in the pend
ing order.
Col. JENKINS, of Charles, suggested that 1ipe
per cent haEing been determined on as the entire
amount of the Agents compensation, and as the
per share equivalent to per cent of course
the said blank should be filed with the words
tsthree per cent?" and he accordingly moved
that it be so filled, which was agreed to-.
Gen. BOWIE moved to amend the order by
adding at the end thereof the following words
.sto be paid only in the event of the completion
of the Road, ," which was adopted.
The same gentleman suggested difficulty as
to subscriptions to the capital stock that might
be made by other Railroad Companies He did
Hpt understand thatthe Agent would be entitled
70 per centage on such subscriptions, and it
might be well to make this plain in the order.
$ Col. BOWIE thought that the language of the
order sufficiently explained ITSELF The Agent
was to be entitled to per centage on all sub
scriptions obtained through has iast,ume,italitv
Consequently, the only test of his right to a
commission on any subscription was his agency
in obtaining it; and his trouble would be worth
the same no matter-whether the subscriber were
company or an individual. But, in case
where a company or an individual shouldvolun-
Carily come forward and subscribe, was such
subscription to be considered as obtained through
the instrumentality Of the Agent?
Judge BARKER observed that the consideration,
just mentioned, chat the same compensation
should be allowed for aid obtained from compa-
MES as from individuals, appeared sufficiently to
answer the first query Gen. BowIE's. Certainly
the terms Of the order entitled the agent to per
centage on all subscriptions obtained by him,
from whatever quarter; and as companies, if they
subscribed at all, would do so largely, the merit
IF the agent in that case would be only the
greater. And he thought it equally clear that
all subscriptions that shall be entered on the
agents books should yield per centage, ire
spectiWe of their being volunteered; for the rea-
son that, as the entire collecting power of the
Commissioners was to be RENTED to him and
no other books than his to- be opened, lit would
be only fair spresump mption, both technically and
equitably, that all subscriptions which his books
may disclose had been obtained 1sthrough his
instrumentality 49, - ~ - -
The order seeming TO be sufficiently clear,
without further alteration, the drop
ped; and the question recurring upon the adop-
ton of the order as amended 4,
Judge B4RKER remarked that, even at a fve
per cent. compensation, the amount to bere-
ceived by the agent would be very large, in case
the entire capital stock were subscribed for. He
inquired whether it would be polite to commit
the Company beforehand to such rate of COM
upensation; and whether that course might not
Ajure the whole enterprise in the view Of por-
ton of the public - 49,. s.
Gen. BOWIE said that the agent appointed was
only the agent of the Commissioners, and not of
the Company. So soon as $50, 900 should be
subscribed, the Company becomes an incorpo-
rated body, with a transfer of our powers to it
sell, by the operation Of the law. It can then
act independently in the premises, either ratify-
ing our bargain with the agent, or making a
new one for itself, as the judgment Of the direc-
TORS rnicht d6fprfninf