St. Mary's beacon. [volume] (Leonard Town, Md.) 1845-1863, 1858-09-09

81 per share equivalent to per cent. OIL course
the said blank should lie filed with Ike words
"three Per cent" and he accordingly moved that
II I've so filed, which was agreed 10.
Gan. BOWIE moved 10 amend the order by
adding a, the end thereof the following words ::
t'to I've raid only in the even, Of he completion
Of the Road, " which adopted.
The same gentleman suggested difficulty as
TO Subscriptions tn the capital sto,k that might
he made bv other Railroad Companies He did
not understand that the Agent would be ehtl-
tied To ccntage on such subscriptions, and
il might be we'll TO make this plan in the
order.
Col Bowie thought thu, the language Of the
order sufficiently explained itself. Tae Agent
To i've entitled IL per cehtase on all sub
scrpIions contained through his ihstrun,sntaiiiy. y
Consequently, the only test of his right In &
commission on aug subscription vas hrs agency
in o5tail!ng u and his trouble would De worth
III. same, no matter whether the subscriber Were
a company or an individual. But, ~ a case
where a company or an individual should volun-
tarIy come forward and subscribe. snch sub
scriptIon TO he considered ob.,lned through
the instrumen ;ali,y "f the Agent:
Judge BARKER observed that the confederation
Just mentioned, that the same compensation,
should De allowed for aid obtaining froIn com?a-
MES from individuals, aPpeafed sufficiently TO
answer the first query (Gen. BOwIE's. : Certain
Iy the terms of the order entitled II agent To per-
centage % al! subscriptions obtained by ann, from
whatever quarter: and companies, II they sub
scribed at all, would do so Largely, the merit of
the agent in that case would Ice only tie greater.
And he Thought 1t equally clear thai aksubscrlp-
tons Il at shall he entered OF the ageni S books
should yield per cent,ge, Irrespective of their
being volunteered: for the reason that, AS the en-
tire collecting power of the Comm'SSrEierS was
TO be RENTED To him and other benkS than
his to lie opened, /, would be only far pre-
sumption, both technically and cqu';thv, that
all subscriptions which hIs book" may disclose
had been obtained Through hts lnstrumenta!i-
ty."
The order seeming 20 he 81 fficier@tly clear,
without further alteration, the COS yersGtIon drop
ped and the question recurring ulnn thS adoption
Of the order rs amendcd,-
Judge BlRXER remirked that, even ~ IRE per
cent. compensation, the amount To be received
by the agent would he very larse. ir case the
entire capital stock SuhSrri Po foF. lie IA
quIred whether it would be l"lir To commit the
Comnanv beforehand To such ,hte Of r"mpen-
Satinn: and whether that c"lr:e mIg'r not IN
lure the whole enterprise IN the v!ew Ola portion
of the public?
Gen Bowie said that the ageat appointed was
only the agea; ii The Commissioners, aad not o:
the COmpanU. - soon as 1910 sh"nld be sub.
scrlbeG The Company becomes an nrnrr" aied
BODY, with II transfer of oar powers ts Itself, hy
/
penden,Iy in the premises, either ratEymg oar
bargain with the agent, making IL new on;
for Itself, rs ;hc judgment of the directory might
determine.
Col Bow,E also concurrcd in this Iiew, say
rnr the Board of Commissioners w,S @lly tenn.
porary body, instituted for temporary rurpo
SEES. It's powers only went +" lSnited eX.
tent, and would determine upontie Organization
! of the Company itself.
Jude barker observed that he had no. inten
ded to submit any proposition IN the premises, rs
personally, he did not think the rate If per cen
:age too great.
! The order as amelded was unanimously adopt
ed.
! Col BOWIE said it would he reresIrry Cor IN
Board under the chatter. formally I" auth"rlZ
nm oDcnin- and exhibition Of the subscription
books and he therefore submitted Ia: following
order II that behalf:
.Ord,rcd. That books Cor the subs .riptions L
the capital stock of tbs COMPANY be Iow "E %;
BowIE; and that they remain open from day I
day untI the sum required by tie amended char
ter for the organization of the Company, o
more. lie obtained. "
Which was adopted.
The same gentleman also submitted the follow
lng order:
80 ,dered, That the agent haze power to re
ceive subscriptions 10 the S'orks t" be pad l
materials or labor, provided thetc7Sh inSta!me'
on each share subscribed be paid as require
by law"
He thought the plan involved in this propos
ton of great importance to the grcce"s of the e.
,erurisc and carried along wth IT cOnNIncn
reasons which the principle 1t 4ontaIned shou
receiyeve AZ early recognition.
Gen. Bowie thought that tn. adoption Of an
such order would be Prematsre. 1t WAS ~
clear that, a. Commissioners, they bad at
| ri
would rather fall within the proper duty of Il
Comnanv whet formed. w. Guild be entirely Wi
, ing, 10 the utmost extent possible, to recei
{ pavmen, for stock subscriptions IN the shape
! materials or labor, III every lnstnn
., in which such an rangement would
. feasible; and it would thus grerly forward I
progress and popularity OF the enterprise. L
: such action mus, he left for the Company
n Co! Bowie sad he would withdraw the c
$ der, as the proprIety Of It's present n1Iderat
J. anne ,red to be doubted; being SATISFIED, for Il
, time. with having fureshadnwed i principle viii
y he hoped would be early acted on iy the Coz
/ pany when formed.
It The order was accordingly withdrawn.
Col THoMsoN, of Charles, suggested the
It noin,ment of a committee To confer with the &c
!, tlsnan who had been appointed agent, and to
/, certain whether he would ACCEPT upon the teri
proposed. Which beng ogreSI TO, the Cn'
l. named Messrs BARKER and CHoMPsoS as
l. committee.
The Commute, having re,ir~d FOL some tin
1e returned and reported that they had consulted w
;e MIR. RoBERr BOWIE, the agerf eIet, who v
r. coniented with the terms proposed, so tnr rs
er allowance of 81 on each share Obtcned Was c.
of cerned: but he thought that tn: payment Of
ID other three per cent, being postponed BY the
m der mill the ''eompletion ot;he road, would
er reasonably delay his compensation. The CO
on mite said they were of the same opinion. IA
much as, under ths arrangement adopted, y
he BorE's per cen,age could not lie pad, even IN
event OF the success Of the read Cntii all OF
Ill claims had been liquidoted; which would he ha
RT " far towards one who would hare been INST
he mental IN obtaining the SUBSCRIPTIONS by wh
nm ,hs road was 10 be built. They recommen
on an alteration in this particula-.
Judge BARKER then moved reconsderat
nd Of the order, above rscited, apPon.ln the AZ
ne and fixing his compensation; whlcA being ca
lar ed.
Ter The same gentleman moved 20 strike
the concluding words of SAID order "to
ner paid only in the event Of tn. completion Of
to- road" and to insert in lieu thereof the foil
ing: sto lie paid as the subscriptions TO
~ ,~.;,,l s,,rk SbaU he cald IN -