The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1866-05-05

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l. WHEREAS. A line of Canal, River and
Bay communication now exists from New
York to the city of Annapolis, Of sufficient
capacity to pass boats of about three hun.
dred tons burthen, and it only requires a
link to be added, Of about twenty miles, to
connect the city of Washington, by canal
with New York Therefore
Sectionrl. Be 1t enacted By the General
Assembly of Maryland, That Andrew j
Hull, WIN, E. Spalding, Henry y. Cook,
OF Washington city, VIM Fl. Tuck, John
Coates, McHenry Grafton, James Higgins,
Anthony Regbold, Wm. Thompson, Of r.,
George F. Needham and Thos. Lansdaie
of the State of Maryland, Gideon L.. Walk.
er and SamuelF. Dickinson ,aof the city OF
New York, and their successors, and each
of their assigns, be and they are hereby
created body corporate and polite, by
the name Of The Chesapeake Bay anG
Potomac River Water Canal Com
pany," and by thatgname have perpetual
succession, and shalifbe able to sue and be
sued, to plead and be impleaded. to defenC
and be defended in oil courts of law ol
equity, in the State of Maryland or the
| United States, and may make and use Q
common seal, to ordain and establish
such bylaws ordinances and regulations
+ as may appear necessary for regulating
the concerns of said company, not being
inconsistent or contrary to this act or the
laws of the United States, or the State oI
Maryland said company shall also have
power to hold and convey real estate AMI
other property, to execute mortgages and
deeds of truet upon its property and fr0n-
tchis0e, real personal and mixed property
andto borrow money and negotiate loans
upon their franchises, bonds, mortgages, Oh
other securities, l, ao--flsl;.,
Section 2. And be ii enacted, That said
| corporation is hereby authorized aud EN-
powered TO survey, locate, lay ont, con
struct, operate, use, collect tolls upon, snt
enjoy continuous line of Canal with
all its appurtenances, between the va
,ters of the Chesapeake Bay and its tributa'
ries, near the city of Annapolis. and the
waters OF the Anacosta River, ut or neal
Bladensburg, in the county OF Prince
Georges upon q route to be surveyed and
designated by competent engineer ap'
pointed by said company. for the purpose
Of carrying freight, and passing vessels
boats, RATS of timber, aud crafts of all kinds
-capable Of navigating said Canal, which
| Canal shall be cut at least ton feet deer
and forty feet " ide at the bottom, with the
usual slope to the banks, and the same
shall at all times, be kept in good and navl-
gable condition. - sin.
z Sec. g. Ard be 1t further enacted, That the
capital stock of the said Chesapeake Bay
and Potomac River Tide Water Cana
Company, shall be three millions Of dollars
and shall consist of thirty thousand shares
! Of one hundred dollars each, which shall be
| subscribed for on the books of said com
pany, and shall be transferable in such
manner as the bylaws of said company
/ shall prescribe /; the books shall be opened
at any place in the cities of Washington,
| Annapolis, Baltimore, philadelphia and
| New York. at such time and place therein
| as the said corporatorS or a majority OF
them shall designate by public notice ci
ten days, published at least in one daily
| paper in each Of said cities, and said books
shall be kept open until the whole amount
| of said stock shall be subscribed, or such
| amount as tho corporation shall deem suf
| ficient to authorize the said company to
| commence the said work a cash payment
| of ten per cent on oil subscriptions shall
| be paid at the time of subscribing, to the
person or persons properly authorized to
receive the same, but no person shall DC
| liable for any amount more than the amount
Of stock he holds,
| Sec. 4, Ind be 1t enacted, That the per-
| sons named in this act, their successors OF
assigns shall be the Directors OF said Com
pany. one Of whom shall be appointed
| President of the Board Of Directors, one
| Vice President and one Treasurer, each to
| be appointed by majority of the said Dt-
! rectors at meeting Of the same at some
convenient place in the city Of Washington,
to be designated by at least seven OF said
| Directors, and to be published IN some one
of the daily papers published in the city OF
| Washington, and also by letter properly
in the postotice OF the city of Washington
| and directed to any director or cOrporatoT
| st his residence when he does not reside
in the city of Washington, Of the time, ane
place of said meeting and seven Of whom
shall constitute quorum, and they at ths
time mentioned in said notice, shall then
in case quorum be present, proceed tc
elect said President, Vice President anC
Treasurer by ballot, first having appointed
/ two oftheir number as inspectors of said
election. which two inspectors so deslgna
| ted, shall certify under their hands, the
| names of the President and Treasurer, thus
duly elected, and shall, if they are not pres
ent. notify them at once of their elections
the proceedings Of said meeting, and ofthe
election OF said officers shall be entered in
the books Of the Company, and the othcerS
80 elected shall hold their Office for two
| Years. and until others are elected and
qualified to fill their places, but before the
said Directors, or any of them, shall enter
npon their duties, they shall take aud sub
scribed the usual oath before some person
/ authorized to administer the same, to sup
! mort the constitution Of the United States
the constitution Of the State Of Maryland
and faithfully 10 perform the duties OF the
/ Office of said corporator the Treasurer SO
elected and before he enters upon his du
ties as Treasurer, shall make, execute snC
deliver to the President of said Company, 9
bond in tho name OF said Company, in an
amount to be approved ofby the President
spd Vice President, with sufficient sure
ties as their bylaws, rules, and regulations
determine, for the faithful performance ol
the several duties aud trusts to him com
initted.
Sec. 5. Ind be 1t enacted, That the SAID
President, Vice-P resident and Treasurer
| shall have power to contract with any per
son or persons to construct said canal, res
! erV0lrS, OaSlDs auu So IOTlu, W oPPoibV
4 General Superintendent, engineers, survey
ors and other artists and laborers that they
4 shall deem necessary to complete, and car
ry on said canal or any portion of it /; L
tx the amount of salaries to be paid by thu
7 company to all officers and persons employ
ed by the company, Except their own sala
~, which shall be fixed by a majority 2
all the directors, and generally to do al
such other acts, matters and things, by thu
act and bylaws; and the regulations OF tn
compapy they are authorized to do; the.